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Gold analysis for July 19 , 2016

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Since our previous analysis, gold has been trading sideways at the price of $1,329.50. According to the 30M time frame, I found buying climax and successful testing of demand in a low volume, which is a sign that buying gold at this stage looks risky. I found trading range between the price of $1,320.00 (support) and $1,338.75. Anyway, sellers are in control at this stage. Watch for selling opportunities on the pullbacks. The first target is set at the price of $1,323.50.

Daily Fibonacci pivot points:

Resistance levels:

R1: 1,333.25

R2: 1.335.30

R3: 1,338.65

Support levels:

S1: 1,326.50

S2: 1,324.40

S3: 1,321.00

Trading recommendations for today: Buying looks risky, watch for selling opportunities.

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

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Gold analysis for July 19 , 2016 Reviewed by on . Since our previous analysis, gold has been trading sideways at the price of $1,329.50. According to the 30M time frame, I found buying climax and successful tes Since our previous analysis, gold has been trading sideways at the price of $1,329.50. According to the 30M time frame, I found buying climax and successful tes Rating:
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