Analysis of Gold for September 22, 2017

Recently, Gold has been trading sideways at the price of $1,295.00. According to the 30M time frame, I found rejection from intraday resistance at the price of $1,300.00, which is a sign that buying looks risky. Buyers lost momentum and my advice is to watch for potential selling opportunities. The downward targets are set at the price of $1,288.45 and $1,280.75.

Resistance levels:

R1: $1,301.60

R2: $1,303.45

R3: $1,304.50

Support levels:

S1: $1,298.65

S2: $1,297.40

S3: $1,295.65

Trading recommendations for today: watch for potential selling opportunities.

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