FX.co ★ Analysis of Gold for June 20, 2017

Recently, the Gold has been trading sideways at the price of $1,245.00. According to the 15M time frame, I found broken bearish flag and hidden bearish divergence on the moving average oscillator, which is a sign that buying looks risky. The short- term trend is bearish. My advice is to watch for potential selling opportunities today. Downward targets are set at the price of $1,243.00 and $1,236.00.

Resistance levels:

R1: $1,245.50

R2: $1,262.45

R3: $1,267.50

Support levels:

S1: $1,241.00

S2: $1,236.00

S3: $1,228.55

Trading recommendations for today: watch for potential selling opportunities.