Gold Technical Analysis October 23, 2018
The Gold declined 0.38% against the USD on Monday and closed at 1221.80. Today in the European session while Gold technical analysis October 23, 2018 is preparing at 10:45 GMT, the XAU/USD trading at 1233.00, which is 0.91% higher from Yesterday’s close.
The Gold is expected to find support at 1218.00, and a fall through could take it to the next support level of 1214.00. 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 1218.00, Support and 1237.00 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1218.00 Support 2: 1214:00 Support 3: 1208:50
Resistance Levels: Resistance 1: 1230.00 Resistance 2: 1234.00 Resistance 3: 1238.00
Gold Buying Opportunity for Intraday Trading October 23, 2018
Buy near the support area 1218.00 and 1214.00 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 23, 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.