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FX.co ★ Gold analysis for June 30, 2016

Gold analysis for June 30, 2016

Gold analysis for June 30, 2016

Since our previous analysis, gold has been trading sideways at the price of $1,318.50. According to the 30M time frame, I found the key point of control from the massive bullish day in the background is set at the price of $1,317.50. Today, I found buying tails from the bottom at the price of $1,313.20. Watch for buying opportunities on the dips. The first take profit level is set at the price of $1,327.30. The major take profit level is set at the price of $1,358.00 (major swing high)

Daily Fibonacci pivot points:

Resistance levels:

R1: 1,325.30

R2: 1.329.00

R3: 1,335.50

Support levels:

S1: 1,313.00

S2: 1,309.50

S3: 1,303.50

Trading recommendations for today: Selling gold looks risky at this stage. So, watch for potential buying opportunities.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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