Source: PaxForex Premium Analytics Portal, Technical Insight

Gold futures prices climbed in U.S. trading on Thursday. On COMEX, a division of the New York Mercantile Exchange, gold futures for June are trading at $1,764.65 per troy ounce.

GOLD/USD, 30 min

Pivot: 1764.90

Analysis:

Provided that the price is above 1755.50, follow these recommendations:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 1764.90
• Take Profit 1: 1777.50
• Take Profit 2: 1784.00

Alternative scenario:

In case of breakdown of the level 1755.50, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 1755.50    
• Take Profit 1: 1745.00
• Take Profit 2: 1739.00

Comment:

RSI shows an uptrend within a day.

Key levels:

GOLD/USD, D1

Pivot: 1760.00

Analysis:

Provided that the price is above 1755.00, follow these recommendations:

• Time frame: D1
• Recommendation: long position
• Entry point: 1760.00
• Take Profit 1: 1795.00
• Take Profit 2: 1835.00 

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: 1700.00
• Take Profit 2: 1675.00

Comment:

RSI shows an uptrend in the medium term. 

Key levels: