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FX.co ★ Analysis of gold for June 23, 2017

Analysis of gold for June 23, 2017

Analysis of gold for June 23, 2017

Recently, gold has been trading upwards. The price tested the level of $1,258.00. Anyway, according to the 30M time frame, I found a climatic action followed by no demand bars, which is a sign that buying looks risky. The price also tested upper diaognal of channel, which is another sign of potential wekaness. My advice is to watch for potential selling opportunities. The downward targets are set at $1,247.00 and $1,243.00.

Resistance levels:

R1: $1,254.30

R2: $1,256.50

R3: $1,260.00

Support levels:

S1: $1,247.00

S2: $1,245.00

S3: $1,241.00

Trading recommendations for today: watch for potential selling 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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