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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 July 25, 2018

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Recently, Gold has been trading upwards. The price tested the level of $1,233.70. Anyway, according to the H1 time – frame, I found a potential end of the upward movement since the price tested the top band of the Keltner channel, which is a sign that buying looks very risky. I also found a bearish engulfing candle pattern, which is another sign that buying looks risky. My advice is to watch for potential selling opportunities. The downward target is set at the price of $1,226.50.

Resistance levels:

R1: $1,230.55

R2: $1,235.75

R3: $1,241.95

Support levels:

S1: $1,219.15

S2: $1,212.97

S3: $1,207.75

Trading recommendations for today: watch for potential selling opportunities.

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