Source: PaxForex Premium Analytics Portal, Technical Insight
Gold futures prices rose in U.S. trading on Thursday. On COMEX, a division of the New York Mercantile Exchange, gold futures for June are trading at $1,826.95 per troy ounce.
GOLD/USD, 30 min
Pivot: 1823.00
Analysis:
Provided that the price is above 1816.00, follow these recommendations:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1823.00
- Take Profit 1: 1829.00
- Take Profit 2: 1835.00
Alternative scenario:
In case of breakdown of the level 1816.00, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1816.00
- Take Profit 1: 1808.00
- Take Profit 2: 1799.00
Comment:
RSI shows an uptrend within a day.
Key levels:
| Resistance | Support |
| 1845.00 | 1818.00 |
| 1835.00 | 1808.00 |
| 1828.00 | 1799.00 |
GOLD/USD, D1
Pivot: 1817.00
Analysis:
Provided that the price is above 1755.00, follow these recommendations:
- Time frame: D1
- Recommendation: long position
- Entry point: 1817.00
- Take Profit 1: 1875.00
- Take Profit 2: 1915.00
Alternative scenario:
In case of breakdown of the level 1755.00, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1755.00
- Take Profit 1: 1715.00
- Take Profit 2: 1675.00
Comment:
RSI shows an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1960.00 | 1755.00 |
| 1915.00 | 1715.00 |
| 1875.00 | 1675.00 |
