Gold Technical Analysis November 12, 2018
The Gold declined 1.08% against the USD on Friday and closed at 1209.27. Today in the European session while Gold technical analysis November 12, 2018 is preparing at 9:45 GMT, the XAU/USD trading at 1205.00, which is 0.35% lower from Yesterday’s close.
The Gold is expected to find support at 1202.50, and a fall through could take it to the next support level of 1196.00. 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 1230.00. For today the expected trading range is betwee 1213.00, Support and 1230.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1202.50 Support 2: 1196:00 Support 3: 1186:00
Resistance Levels: Resistance 1: 1220.00 Resistance 2: 1230.00 Resistance 3: 1236.00
Gold Buying Opportunity for Intraday Trading November 12, 2018
Buy near the support area 1202.50 and 1196.00 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 November 12, 2018
Sell near the resistance area 1230.00 and 1230.00 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.