Since our previous analysis, gold has been trading upwards. The price tested the level of $1,333.02 in a high volume. The price broke a swing high at $1,329.82, which confirmed further upward movements. According to 30M time frame, I found a broken up fractal at the price of $1,329.47.According to the volume analysis, I found low volatility today. Watch for buying opportunities. The intraday trend is upward. An upward target is set at the price of $1,341.50.
Daily Fibonacci pivot points:
Resistance levels:
R1: 1,332.10
R2: 1,333.70
R3: 1,336.40
Support levels:
S1: 1,327.05
S2: 1,325.45
S3: 1,223.00
Trading recommendations for today: Watch for buying opportunities. The intraday trend is upward.
