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 July 23, 2018

July 24, 2018 Analytics

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Recently, the Gold has been trading upwards. The price tested the level of $1,234.68. According to the H1 time – frame, I found rejection of the upward trendline in the background, which is a sign that selling looks risky. I also found a hidden bullish divergence on the MACD oscillator in the background, which is a sign that buyers are in control. My advice is to watch for potential buying opportunities. The upward target is set at the price of $1,244.45.

Resistance levels:

R1: $1,234.15

R2: $1,235.40

R3: $1,237.35

Support levels:

S1: $1,230.90

S2: $1.228.97

S3: $1,227.75

Trading recommendations for today: watch for potential buying opportunities.

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

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