Analysis of Gold for December 11, 2017 11.12.2017

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Exchange Rates 11.12.2017 analysis

Recently, Gold has been trading downwards. The price tested the level of $1,244. Anyway, according to the 30M time- frame, I found that price is trading inside of a trading range between the price of $1,252.30 (resistance) and the price of $1,244.00 (support). Since the short-term trend is bearish, my advice is to watch for potential selling opportunities. The downward targets are set at the price of $1,244.00 and at the price of $1,239.70

Resistance levels:

R1: $1,252.37

R2: $1,256.57

R3: $1,260.77

Support levels:

S1: $1,243.97

S2: $1,239.77

S3: $1,235.57

Trading recommendations for today: watch for potential selling opportunities.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Petar Jacimovic,
Analytical expert
InstaForex Group © 2007-2017

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