Analysis of Gold for February 13, 2018

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Recently, Gold has been trading upwards. The price tested the level of $1,330.00. Accorrding to the 15M time – frame, I found a successful rejection of the support at the price of $1,328.00, which is a sign that selling looks risky. I also found a higher highs and higher lows today, which is a sign of a healthy intraday bullish trend. My advice is to watch for potential buying opportunities. The upward targets are set at the price of $1,333.75 and at the price of $1,340.50.

Resistance levels:

R1: $1,328.15

R2: $1.333.80

R3: $1,340.80

Support levels:

S1: $1,315.50

S2: $1,308.55

S3: $1,302.90

Trading recommendations for today: watch for potential buying opportunities.

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