FX.co ★ Analysis of Gold for March 20, 2018

Recently, Gold has been trading sideways at the price of $1,311.55. According to the 4H time frame, I found that price rejected of supply trendline in the background, which is a sign that sellers are in control. I also found a buying climax in the background, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downward target is set at the price of $1,302.55.

Resistance levels:

R1: $1,321.75

R2: $1,326.62

R3: $1.333.60

Support levels:

S1: $1,309.90

S2: $1,302.92

S3: $1,298.05

Trading recommendations for today: watch for potential selling opportunities.