Recently, the Gold has been trading downwards. The price tested the level of $1,211.52. According to the M15 time frame, I found the price got no power to sustain below the today's pivot ($1,21.67), which is a sign that selling looks risky. I also found a bullish cross on the stochastic oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of $1,216.93 and at the price of $1,220.72.
Resistance levels:
R1: $1,217.10
R2: $1,220.93
R3: $1,226.45
Support levels:
S1: $1,207.45
S2: $1,202.20
S3: $1,198.38
Trading recommendations for today: watch for potential buying opportunities.
