logo

FX.co ★ Analysis of Gold for June 19, 2018

Analysis of Gold for June 19, 2018

Analysis of Gold for June 19, 2018

Recently, Gold has been trading sideways at the price of $1,279.00. According to the H1 time - frame, I found potential end of the upward corrective structure (abc), which is a sign that sellers may continue with downward direction. My advice is to watch for a potential breakout of bearish flag to confirm further downward continuation. The downward targets are set at the price of $1,263.35 and at the price of $1,250.15.

Resistance levels: R1: $1,286.60R2: $1,288.20 R3: $1,289.90

Support levels: S1: $1,283.30S2: $1,281.60S3: $1,280.00

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
Go to the articles list Go to this author's articles Open trading account