Recently, Gold has been trading downwards. The price tested the level of $1,236.00 in an ultra high volume. According to the 15M time frame, I found a big selling climax in an ultra high volume, which is a sign that selling looks risky. The bar closed in the middle, which is a strong sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of $1,253.70.
Resistance levels:
R1: $1,258.80
R2: $1,259.60
R3: $1,260.00
Support levels:
S1: $1,257.80
S2: $1,257.35
S3: $1,256.75
Trading recommendations for today: watch for potential buying opportunities.
