Recently, gold has been moving downwards. As I expected, the price tested the level of $1,163.20 in a high volume. My targets from yesterday has been met. According to the 30M time frame, I found strong selling presure and watch for selling opportunities. Downward target is set at the price of $1,157.00. Supply cluster I mentoned yesterday was very strong resistance.
Resistance levels:
R1: 1,175.90
R2: 1,177.80
R3: 1,180.90
Support levels:
S1: 1,168.90
S2: 1,166.80
S3: 1,163.20
Trading recommendations for today: Watch for potential selling opportunities.
