Source: PaxForex Premium Analytics Portal, Technical Insight
Gold futures prices rose in U.S. trading Monday. On COMEX, a division of the New York Mercantile Exchange, gold futures for June delivery are trading at $1,793.10 per troy ounce, up 1.44% as of this writing.
GOLD/USD, 30 min
Pivot: 1788.00
Analysis:
Provided that the price is above 1781.00, follow these recommendations:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1788.00
- Take Profit 1: 1799.00
- Take Profit 2: 1811.00
Alternative scenario:
In case of breakout of the level 1781.00, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1781.00
- Take Profit 1: 1772.00
- Take Profit 2: 1763.00
Comment:
RSI shows an uptrend within a day.
Key levels:
| Resistance | Support |
| 1820.00 | 1781.00 |
| 1811.00 | 1772.00 |
| 1799.00 | 1763.00 |
GOLD/USD, D1
Pivot: 1768.00
Analysis:
Provided that the price is above 1735.00, follow these recommendations:
- Time frame: D1
- Recommendation: long position
- Entry point: 1768.00
- Take Profit 1: 1815.00
- Take Profit 2: 1855.00
Alternative scenario:
In case of breakdown of the level 1735.00, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1735.00
- Take Profit 1: 1700.00
- Take Profit 2: 1675.00
Comment:
RSI shows an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1875.00 | 1735.00 |
| 1855.00 | 1700.00 |
| 1815.00 | 1675.00 |
