Recently, Gold has been trading sideways at the price of $1,310.00. Anyway, according to the 30M time frame, I found that sellers are in contorl and that price is trading inside of the downward channel. I placed Fibonacci expansion to find potential downward targets. I got Fibonacci expansion 61.8% at the price of $1,310.00 and Fibonacci expansion 100% at the price of $1,294.00. Watch for potential selling opportunities.
Resistance levels:
R1: $1,335.00
R2: $1,338.50
R3: $1,340.80
Support levels:
S1: $1,329.25
S2: $1,326.50
S3: $1,324.00
Trading recommendations for today: watch for potential selling opportunities.
