FX.co ★ Gold analysis for September 19, 2016

Since our previous analysis, gold has been trading sideways at the price of $1,314.15. According the 30M time frame and using the market profile, I found point of control at the price of $1,314.50. I found strength in Asian sesion, which is a sign that sellers lost power. Watch for potential buying opportunities. Next point of control levels are set at the price of $1,321.30 - $1,322.30.

Daily Fibonacci pivot points:

Resistance levels:

R1: 1,315.30

R2: 1,316.00

R3: 1,317.10

Support levels:

S1: 1,313.20

S2: 1,312.50

S3: 1,311.40

Trading recommendations for today: Strength came in on the market. Be careful when selling Gold at this stage and watch for potential buying opporutnties.