GOLD - Daily chart
Gold failed to break above the downtrend channel. It bounced from 1267 resistance and returned below the trend line. Now it's heading towards 1231 and if decline continues it should hit 1218.5 level.
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| GOLD - Daily chart |
GOLD - H4 chart
Gold is still in the uptrend, but last declines suggest that this wave may be over. At the end of the week it hit the uptrend line. The support at 1237.50 was defended, but I expect it'll be broken very soon. So, in this week I predict downward movement towards 1228 and 1218.50.
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| GOLD - H4 chart |
Trade recommendation
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Sell limit around 1248.50 or sell when it breakes bellow 1237.50
Target levels: T1: 1228.50 T2: 1218.50
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Current support levels
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Current resistance levels
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