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 15, 2018

August 15, 2018 Analytics

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Recently, Gold has been trading downwards. As I expected, the price tested the level of $1,184.20. According to the M30 time – frame, I found a broken bearish flag in the background, which is a sign that sellers are in control. My advice is to watch for potential selling opportunities on the rallies. The downward target is set at the price of $1,179.00.

Resistance levels:

R1: $1,197.00

R2: $1,201.07

R3: $1,204.00

Support levels:

S1: $1,190.65

S2: $1,187.80

S3: $1,184.00

Trading recommendations for today: watch for potential selling opportunities.

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

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