Recently, Gold has been trading upwards. The price tested the level of $1,194.00. According to the H1 time – frame, I found a potential end of the larger downward correction (regular flat), which is a sign that buying positions are favorable. I also found the breakout of the supply trendline in the background, which is another sign of the strength. My advice is to watch for potential buying opportunities on the pullbacks. The upward targets are set at the price of $1,203.70 and at the price of $1,209.00.
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company -
www.instaforex.com