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:

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: