Analysis of Gold for January 24, 2018 24.01.2018

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Exchange Rates 24.01.2018 analysis

Recently, Gold has been trading upwards. The price tested the level of $1,350.60. According to the 30M time – frame, I found that price broke the resistance cluster at the price of $1,344.65, which is a sign that buyers are in control. Now, the strong resistance cluster at the price of $1,344.65 became strong support and my advice is to watch for potential buying opportunities around that level. The upward target is set at the price of $1,357.00.

Resistance levels:

R1: $1,344.97

R2: $1.348.60

R3: $1,355.39

Support levels:

S1: $1,334.55

S2: $1,327.78

S3: $1,324.13

Trading recommendations for today: watch for potential buying 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 © 2007-2018

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