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FX.co ★ Analysis of Gold for June 18, 2018

Analysis of Gold for June 18, 2018

Analysis of Gold for June 18, 2018

Recently, Gold has been trading downwards. The price tested the level of $1,275. According to the H1 time - frame, I found strong supply in the background, which is a sign that sellers in control. I also found a bearish flag in creation, which is another sign of weakness. My advice is to watch for a potential breakout of the bearish flag to confirm further downward continuation. The downward targets are set at the price of $1,275.25 and at the price of $1,236.00.

Resistance levels: R1: $1,284.50R2: $1,286.40 R3: $1,287.90

Support levels: S1: $1,281.10S2: $1,279.60S3: $1,277.70

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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