Recently, the Gold has been trading upwards. The price tested the level of $1,234.68. According to the H1 time – frame, I found rejection of the upward trendline in the background, which is a sign that selling looks risky. I also found a hidden bullish divergence on the MACD oscillator in the background, 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 $1,244.45.
Resistance levels:
R1: $1,234.15
R2: $1,235.40
R3: $1,237.35
Support levels:
S1: $1,230.90
S2: $1.228.97
S3: $1,227.75
Trading recommendations for today: watch for potential buying opportunities.
