Gold Technical Analysis October 29, 2018
The Gold rose 0.10% against the USD on Friday and closed at 1233.48. Today in the European session while Gold technical analysis October 29, 2018 is preparing at 9:45 GMT, the XAU/USD trading at 1230.00, which is 0.38% lower from Yesterday’s close.
The Gold is expected to find support at 1227.00, and a fall through could take it to the next support level of 1222.00. The pair is expected to find its first resistance at 1241.00, and a rise through could take it to the next resistance level of 1249.00. For today the expected trading range is betwee 1222.00, Support and 1249.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1227.00 Support 2: 1222:00 Support 3: 1214:50
Resistance Levels: Resistance 1: 1241.00 Resistance 2: 1249.00 Resistance 3: 1254.50
Gold Buying Opportunity for Intraday Trading October 29, 2018
Buy near the support area 1227.00 and 1222.00 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 29, 2018
Sell near the resistance area 1241.00 and 1249.00 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.