Gold has been trading upward during the past 20 hours but the upward movement may come to the end.
According to the M30 time – frame, we found that bearish flag in our opinion it is just question of the time when we will see the down break. Intraday support level at the price of $1.308.80 will be critical. Breakout of the support would confirm potential testing of the $1.303.90 and $1.298.00. Key resistance from the other side is seen at the price of $1.319.45.
Trading recommendation: We are watching for selling opportunities with targets at $1.303.90 and $1.298.00.
The material has been provided by InstaForex Company - www.instaforex.com