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FX.co ★ Analysis of Gold for September 22, 2017

Analysis of Gold for September 22, 2017

Analysis of Gold for September 22, 2017

Recently, Gold has been trading sideways at the price of $1,295.00. According to the 30M time frame, I found rejection from intraday resistance at the price of $1,300.00, which is a sign that buying looks risky. Buyers lost momentum and my advice is to watch for potential selling opportunities. The downward targets are set at the price of $1,288.45 and $1,280.75.

Resistance levels:

R1: $1,301.60

R2: $1,303.45

R3: $1,304.50

Support levels:

S1: $1,298.65

S2: $1,297.40

S3: $1,295.65

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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