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    Gold analysis for June 14 , 2016

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    Since our previous analysis, gold has been moving sideways at the price of $1,282.00. The trend is upward. According to the 1H time frame, I found a successful breakout of supply trendline, which is sign that we may see bullish continuation.Oscilator is also in overbought zone, which is another sign that we may see bullish continuation. The first take profit level is set at the price of $1,286.50. Be careful when selling and watch for buying opportunities on the dips.

    Daily Fibonacci pivot points:

    Resistance levels:

    R1: 1,290.85

    R2: 1,296.25

    R3: 1,305.10

    Support levels:

    S1: 1,276.50

    S2: 1,267.00

    S3: 1,262.20

    Trading recommendations for today: Be careful when selling and watch for buying opportunities on dips.


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