Since our previous analysis, gold has been trading upwards. As I expected, the price tested the level of $1,355.06 in an high volume. According to the H1 time frame, I found strong upward pressure and upward trend. There is a successful test of supply in a high volume. Watch for buying opportunities. The first take profit level is set at the price of $1,364.00.
Daily Fibonacci pivot points:
Resistance levels:
R1: 1,339.80
R2: 1,342.40
R3: 1,346.50
Support levels:
S1: 1,331.50
S2: 1,328.90
S3: 1,324.70
Trading recommendations for today: Selling looks very risky. Watch for buying opportunities.
