Recently, Gold has been trading upwards. As I expected, the price tested the level of $1,305.90. According to the H1 time – frame, I found that there is a finished (abc) bearish correction in the background, which is a sign that selling looks risky. I also found an intraday bullish flag and upward channel, which is a sign that buyers are in control. My advice is to watch for potential buying opportunities. The upward target is set at the price of $1,316.60.
Resistance levels:
R1: $1,305.00
R2: $1,308.65
R3: $1,313.55
Support levels:
S1: $1,296.55
S2: $1,291.63
S3: $1,288.10
Trading recommendations for today: watch for potential buying opportunities.
