Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,184.20. According to the M30 time – frame, I found a broken bearish flag in the background, which is a sign that sellers are in control. My advice is to watch for potential selling opportunities on the rallies. The downward target is set at the price of $1,179.00.
Resistance levels:
R1: $1,197.00
R2: $1,201.07
R3: $1,204.00
Support levels:
S1: $1,190.65
S2: $1,187.80
S3: $1,184.00
Trading recommendations for today: watch for potential selling opportunities.
