Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

Analysis of Gold for August 02, 2018

August 2, 2018 Analytics

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Recently, the Gold has been trading downwards. The price tested the level of $1,215.40. Anyway, according to the M30 time frame, I found a potential end of the downward movement. The price stopped exactly at the yesterday’s level of $1,215.40, which is a sign that selling looks risky. My advice is to watch for potential buying opportunities. The upward targets are set at the price of $1,218.43 and at the price of $1,221.50.

Resistance levels:

R1: $1,221.50

R2: $1,227.45

R3: $1,230.50

Support levels:

S1: $1,212.49

S2: $1,209.45

S3: $1,203.50

Trading recommendations for today: watch for potential buying opportunities.

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

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