Recently, Gold has been trading sideways at the price of $1,276.00. According to the 15M time – frame, I found a supply trendline, which is holding. It also indicates that sellers are in control today. There is also a breakout of the pivot level of $1,276.95, which is another sign that there is weakness in the background. My advice is to watch for potential selling opportunties. The downward tarrgets are set at the price of $1,271.10 (pivot support 1) and at the price of $1,265.50 (swing low).
Resistance levels:
R1: $1,287.83
R2: $1,293.80
R3: $1,304.70
Support levels:
S1: $1,270.97
S2: $2,260.10
S3: $1,254.11
Trading recommendations for today: watch for potential selling opportunities.
