Since our previous analysis, gold has been moving upwards. The price tested the level of $1,254.00 in a high volume. According to the 30M time frame, I found broken trading range (re-accumulation phase). The price went out of the trading range in a high volume, which is a sign that selling looks risky. My advice is to watch fro buying opportunities on the dips. The first take profit level is set at the price of $1,265.00.
Daily Fibonacci pivot points:
Resistance levels:
R1: 1,248.80
R2: 1,251.60
R3: 1,256.00
Support levels:
S1: 1,239.50
S2: 1,236.70
S3: 1,232.10
Trading recommendations for today: Be careful when selling and watch for buying opportunities on the dips.