Overview:
Since our last analysis, gold has been trading upwards. The price tested the level of 1,322.45 in a volume above average according to the daily time frame. According to the 4H timeframe, we can observe demand in a high volume. So, selling at this stage looks riksy. Our Fibonacci retracement 61.8% at the price of 1,321.00 is on the test. If the price breaks the level of 1,321.00 in a higher volume, we may see testing the level of 1,343.00.
Daily pivot Fibonacci points:
Resistance levels:
R1: 1,315.75
R2: 1,318.91
R3: 1,324.03
Support levels:
S1: 1,305.51
S2: 1,302.35
S3: 1,297.23
Trading recommendations: Selling Gold looks risky, so watch for potential buying opportunities if the price breaks the level of 1,321.00