FX.co ★ Gold analysis for October 25, 2016

Since our previous analysis, gold has been trading sideways around the price of $1,270.00. According to the 30M time frame and using the market profile analysis, I found the strong point of control from yesterday $1,265.00. The price broke the point of control from yesterday and I expect higher price. Upward targets are set at the price of $1,271.60 and $1,273.90. Watch for buying opportunities on the dips.

Fibonacci pivot points:

Resistance levels:

R1: 1,267.15

R2: 1,268.90

R3: 1,271.50

Support levels:

S1: 1,261.20

S2: 1,259.95

S3: 1,256.50

Trading recommendations for today: Strength on the Gold. Watch for buying opportunities on the dips.