Analysis of Gold for June 21, 2018

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Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,261.50 and met my first downward target. According to the H1 time – frame, I found no strong reaction from buyers, which is a sign that sellers are still in control. Watch for potetnial bearish flag before you sell. The next downward target is set at the price of $1,250.00 (Fibonacci expansion 100%).

Resistance levels: R1: $1,276.75 R2: $1,282.13 R3: $1,285.70

Support levels: S1: $1,267.75 S2: $1,264.50 S3: $1,258.75

Trading recommendations for today: watch for potential selling opportunities.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Analysis of Gold for June 21, 2018

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