Gold Technical Analysis 18 August 2020
Gold Technical Analysis: The Gold rose 2.00% against the USD on Monday and closed at 1984.50. Today in the Asian session, while Gold technical Analysis 18 August 2020 is preparing at 5:45 GMT, the XAU/USD trading at 1999.00, which is 0.73% higher from Yesterday’s close.
The Gold is expected to find support at 1967.00, and a fall through could take it to the next support level of 1945.00. The pair is expected to find its first resistance at 2007.00, and a rise through could take it to the next resistance level of 2015.00. Today’s expected trading range is between 1945.00, support and 2030.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1967.00
Support 2: 1945:00
Support 3: 1930:00
Important resistance levels:
Resistance 1: 2007.00
Resistance 2: 2015.00
Resistance 3: 2030.00
Gold buying opportunity for intraday trading on August 18, 2020
Buy near the support zones 1967.00 and 1945.00 as soon as you get a reversal candlestick pattern, using a stop loss 2 points below the low of the reversal candle, and keep the target equal to the stop loss.
Gold selling opportunity for intraday trading on August 18, 2020
Sell near the resistance zones 2007.00 and 2015.00 as soon as you get a reversal candlestick pattern, using a stop loss 2 points above the high of the reversal candle, and keep the target equal to the stop loss.
Crude Oil Technical Analysis 18 August 2020