Recently, Gold has downwards. The price tested the level of $1,311.80. According to the 30M time frame, I found a valid breakout of Friday's low at the price of $1,315.50. I found that demand looks very weak and that sellers are in control. MACD oscilator confirmed that sellers are in control. My advice is to watch for potential selling opportunities. The downward target is set at the price of $1,300.30.
Resistance levels:
R1: $1,322.25
R2: $1,325.50
R3: $1,327.15
Support levels:
S1: $1,317.35
S2: $1,315.60
S3: $1,312.45
Trading recommendations for today: watch for potential selling opportunities.
