Recently, Gold has been trading sideways at the price of $1,279.00. According to the H1 time - frame, I found potential end of the upward corrective structure (abc), which is a sign that sellers may continue with downward direction. My advice is to watch for a potential breakout of bearish flag to confirm further downward continuation. The downward targets are set at the price of $1,263.35 and at the price of $1,250.15.
Resistance levels: R1: $1,286.60R2: $1,288.20 R3: $1,289.90
Support levels: S1: $1,283.30S2: $1,281.60S3: $1,280.00
Trading recommendations for today: watch for potential selling opportunities.
