Recently, Gold has been trading upwards. As I expected, the price tested the level of $1,265.05. The metal tested my yesterday's take profit level at $1,265.50. Anyway, today I found that price is having hard time to break above yesterday's high, which is a sign that downward correction is possible. My advice is to watch for potential selling opportuntiies. The downward target is set at the price of $1,249.00.
Resistance levels:
R1: $1,261.80
R2: $1,267.70
R3: $1,277.50
Support levels:
S1: $1,242.50
S2: $1,236.00
S3: $1,227.00
Trading recommendations for today: watch for potential selling opportunities.
