Recently, Gold has been trading sideways at the price of $1,295.00. According to the 30M time frame, I found rejection from intraday resistance at the price of $1,300.00, which is a sign that buying looks risky. Buyers lost momentum and my advice is to watch for potential selling opportunities. The downward targets are set at the price of $1,288.45 and $1,280.75.
Resistance levels:
R1: $1,301.60
R2: $1,303.45
R3: $1,304.50
Support levels:
S1: $1,298.65
S2: $1,297.40
S3: $1,295.65
Trading recommendations for today: watch for potential selling opportunities.
