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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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Analysis of Gold for January 24, 2018

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Recently, Gold has been trading upwards. The price tested the level of $1,350.60. According to the 30M time – frame, I found that price broke the resistance cluster at the price of $1,344.65, which is a sign that buyers are in control. Now, the strong resistance cluster at the price of $1,344.65 became strong support and my advice is to watch for potential buying opportunities around that level. The upward target is set at the price of $1,357.00.

Resistance levels:

R1: $1,344.97

R2: $1.348.60

R3: $1,355.39

Support levels:

S1: $1,334.55

S2: $1,327.78

S3: $1,324.13

Trading recommendations for today: watch for potential buying opportunities.

The material has been provided by InstaForex Company - www.instaforex.com