Recently, Gold has been trading upwards. The price tested the level of $1,344.48 in a high volume. According to the 15M time frame, I found that buyers are in control and that Fibonacci retracement 38.2% at the price of $1,337.00 held successfuly. My advice is to watch for potential buying opportuntiies. I have placed Fibonacci expansion to find a potential upward target. I got Fibonacci expansion 61.8% at the price of $1,344.00 and Fibonacci expansion 100% at the price of $1,354.00.
Resistance levels:
R1: $1,348.90
R2: $1,353.20
R3: $1,360.00
Support levels:
S1: $1,334.60
S2: $1.330.00
S3: $1,323.15
Trading recommendations for today: watch for potential buying opportunities.
