empty
 
 
17.01.2018 01:53 PM
Analysis of Gold for January 17, 2018

This image is no longer relevant

Recently, Gold has been trading sideways at the price of $1,337.00. According to the 30M time - frame, I found that price rejected of the pivot support at $1,332.00, which is a sign that selling looks risky. I also found positive readings on MACD oscillator, which is another sign of strength. Short-term trend is still bullish. My advice is to watch for potential buying opportunities. The upward targets are set at the price of $1,343.15 and at the price of $1,347.80.

Resistance levels:

R1: $1,343.17

R2: $1,347.80

R3: $1,353.58

Support levels:

S1: $1,332.75

S2: $1,327.13

S3: $1,322.35

Trading recommendations for today: watch for potential buying opportunities.

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 $1000 more!
    In April we raffle $1000 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
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 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