FX.co ★ Analysis of gold for May 21, 2018

Recently, gold has been trading downwards. The price tested the level of $1,281.66. According to the H1 time frame, I found a broken support trendline in the background, which is a sign that sellers are in control. My advice is to watch for potential selling opportunities on the rallies. The downward target is set at the price of $1,262.50.

Resistance levels:

R1: $1,291.50

R2: $1,292.00

R3: $1,292.80

Support levels:

S1: $1,289.90

S2: $1,289.40

S3: $1,288.60

Trading recommendations for today: watch for potential selling opportunities.