Recently, the Gold has been trading downwards. As I expected, the price tested the level of $1,321.90. According to the H1 time – frame, I found a potential end of a bullish corrective phase, which is a sign that buying looks risky. The trend is still bearish and my advice is to watch for potential selling opportunities. The downward targets are set at the price of $1,319.45 and at the price of $1,305.20.
Resistance levels:
R1: $1,332.77
R2: $1,340.82
R3: $1,346.15
Support levels:
S1: $1,319.40
S2: $1,314.08
S3: $1,306.04
Trading recommendations for today: watch for potential selling opportunities.