Recently, gold has been trading upwards. The price tested the level of $1,320.80. According to the 30M time frame, I found a successful rejection from the Fibonacci retracement 50% at the price of $1,311.00, which is a sign that selling looks risky. The short-term trend is bullish and my advice is to watch for potential buying opportunities. The upward targets are set at the price of $1,323.00 and at the price of $1,330.00.
Resistance levels:
R1: $1,322.80
R2: $1,329.50
R3: $1,338.00
Support levels:
S1: $1,307.00
S2: $1,297.00
S3: $1,291.00
Trading recommendations for today: watch for potential buying opportunities.
