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FX.co ★ Analysis of Gold for May 30, 2018

Analysis of Gold for May 30, 2018

Analysis of Gold for May 30, 2018

Recently, the Gold has been trading sideways at the price of $1,298.60. According to the H1 time – frame, I found a potential bullish flag in creation, which is a sign that selling looks risky. My advice is to watch for a potential breakout of supply trendline to confirm further upward continuation. The upward targets are set at the price of $1,310.80 and at the price of $1,316.00.

Resistance levels:

R1: $1,307.50

R2: $1,313.00

R3: $1,320.00

Support levels:

S1: $1,294.50

S2: $1,287.10

S3: $1,281.30

Trading recommendations for today: 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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