Recently, Gold has been trading sideways at the price of $1,312.00. According to the 4H time frame, I found that price is testing major short – term resistance at the level of $1,312.65, which is a sign that buying looks risky. I also found a series of lower lows and lower highs, which indicates that short-term sellers are in control. My advice is to watch for potential selling opportunities. The downward target is set at the price of $1,302.60.
Resistance levels:
R1: $1,320.33
R2: $1,327.10
R3: $1,332.45
Support levels:
S1: $1,308.25
S2: $1.302.90
S3: $1,296.15
Trading recommendations for today: watch for potential selling opportunities.
