FX.co ★ Gold analysis for March 31, 2017

Recently, Gold has been trading downwards. As I expected, the price tested the level $1,239.70. According to the 30M time frame, I found that the price is trading in well-defined downward channel, which is a sign that buying looks risky. I also found hidden bearish divergence. My advice is to watch for potential selling opportunities. The downward target is set at the price of $1,235.00.

Resistance levels:

R1: $1,251.35

R2: $1,254.30

R3: $1,259.00

Support levels:

S1: $1,241.80

S2: $1,238.80

S3: $1,234.00

Trading recommendations for today: watch for potential selling opportunities.