Stay 
Trading Conditions
Products
Tools
Overview:
Gold has been trading sideways around the level of $1,205.00. The price supports cluster around the level of $1,201.00. We can observe weak price action in a volume just above the average in the daily time frame. The short-term trend is neutral. The daily resistance at the level of $1,224.00 held successfully. If the price breaks the level of $1,224.00 in a high volume and strong price action takes place, we may see possible testing at the level of $1,250.00 (Fibonacci expansion 100%). Anyway, I found strong trading range between the price of $1,214.00 and $1,201.00. I am waiting for a clear breakout with a high volume to confirm direction. We can observe sign of weakness (SOW) inside the trading range, which is a sign that this is more likely a redistribution.
Daily Fibonacci pivot points:
Resistance levels:
R1: 1,205.40
R2: 1,206.00
R3: 1,206.50
Support levels:
S1: 1,204.00
S2: 1,203.50
S3: 1,202.80
Trading recommendations: Be careful when buying gold below the price of $1,225.00.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of Instant Trading EU Ltd including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.
We are sorry for any inconvenience caused by this message.
