Recently, Gold has been trading upwards. The price tested the level of $1,189.20. According to the M15 time – frame, I found a rising regression channel and rising ADX, which is a sign that buyers are in control. Buying on the dips looks like a good plan. My advice is to watch for potential buying opportunities. The upward targets are set at the price of $1,193.15 and at the price of $1,200.00.
Resistance levels:
R1: $1,188.75
R2: $1.193.25
R3: $1,200.00
Support levels:
S1: $1,175.60
S2: $1,166.98
S3: $1,162.50
Trading recommendations for today: watch for potential buying opportunities.
