empty
 
 
28.05.2018 11:04 AM
Analysis of Gold for May 28, 2018

This image is no longer relevant

Recently, the Gold has been trading downwards. The price tested the level of $1,295.00. Anyway, according to the H1 time – frame, I found a potential end of the downward correction (abc), which is a sign that selling looks risky. I also found the upward trendline on the test, which is another sign of potential strength. My advice is to watch for a potential breakout of the supply trendline to confirm a further upward movement. The upward target is set at the price of $1,310.50.

Resistance levels:

R1: $1,310.00

R2: $1,301.90

R3: $1,303.90

Support levels:

S1: $1,296.30

S2: $1,294.30

S3 : $1,292.50

Trading recommendations for today: watch for potential buying opportunities.

Summary
Urgency
Analytic
Petar Jacimovic
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback