FX.co ★ Gold analysis for December 13, 2016

Recently, gold has been moving sideways at the price of $1,159.60. According to the 30M time frame, price is trading below 21 SMA and Gold may visit yesterday's low at the level of $1,151.30. According to market profile analysis, yesterday's point of control is set at the price of $1,157.15. If the price is rejected from the point of control, Gold may test $1,165.50.

Resistance levels:

R1: 1,164.30

R2: 1,166.90

R3: 1,171.50

Support levels:

S1: 1,155.60

S2: 1,153.40

S3: 1,149.20

Trading recommendations for today: Watch the price action around point of control to confirm a further direction.