Analysis of Gold for January 26, 2018

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Recently, the Gold has been trading downwards. As I expected, the price tested the level of $1,342.20 (resistance became strong support). Since the Gold is still in upward trend and there is a successful rejection of strong support in the background, my advice is to watch for potential buying opportunities. The upward target is set at the price of $1,365.55 (yesterday’s high).

Resistance levels:

R1: $1,362.07

R2: $1.375.87

R3: $1,385.67

Support levels:

S1: $1,338.47

S2: $1,328.67

S3: $1,314.87

Trading recommendations for today: watch for potential buying opportunities.

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

Source:: Analysis of Gold for January 26, 2018

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