Analysis of Gold for July 25, 2018
Recently, Gold has been trading upwards. The price tested the level of $1,233.70. Anyway, according to the H1 time – frame, I found a potential end of the upward movement since the price tested the top band of the Keltner channel, which is a sign that buying looks very risky. I also found a bearish engulfing candle pattern, which is another sign that buying looks risky. My advice is to watch for potential selling opportunities. The downward target is set at the price of $1,226.50.
Trading recommendations for today: watch for potential selling opportunities.