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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 April 18, 2018

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Recently, Gold has been trading sideways at the price of $1,345.25. According to the M30 time – frame, I found that price is respecting supply trendline, which is a sign that sellers are active. I also found a rounding top pattern, which is another sign of weakness. My advice is to watch for potential selling opportunities as long that price remains below the supply trendline. The downward targets are set at the price of $1,337.50 and at the price fo $1,333.20.

Resistance levels:

R1: $1,351.90

R2: $1,356.50

R3: $1,363.62

Support levels:

S1: $1,340.16

S2: $1,333.05

S3: $1,328.45

Trading recommendations for today: watch for potential selling opportunities.

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