Gold Technical Analysis October 22, 2018
The Gold rose 0.07% against the USD on Friday and closed at 1225.47. Today in the European session while Gold technical analysis October 22, 2018 is preparing at 10:45 GMT, the XAU/USD trading at 1225.17, which is 0.02% lower from Yesterday’s close.
Gold technical analysis 22 October 2018
The Gold is expected to find support at 1222.50, and a fall through could take it to the next support level of 1218.50. The pair is expected to find its first resistance at 1220.00, and a rise through could take it to the next resistance level of 1234.00. For today the expected trading range is betwee 1215.00, Support and 1238.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1222.50 Support 2: 1218:50 Support 3: 1215:00
Resistance Levels: Resistance 1: 1230.00 Resistance 2: 1234.00 Resistance 3: 1238.00
Gold Buying Opportunity for Intraday Trading October 22, 2018
Buy near the support area 1222.50 and 1218.50 as soon as you get reversal candlesticks patterns using stop loss 4 pips below the reversal candlestick & keep target equal to stop loss.
Gold Selling Opportunity for Intraday Trading October 22, 2018
Sell near the resistance area 1230.00 and 1234.00 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.