Gold Technical Analysis 8 December 2020
Gold Technical Analysis: The Gold rose 1.41% against the USD on Monday and closed at 1863.60. Today in the Asian session, while Gold technical Analysis 8 December 2020 is preparing at 5:15 GMT, the XAU/USD trading at 1865.00, which is 0.15% higher from Yesterday’s close.
The Gold is expected to find support at 1847.00, and a fall through could take it to the next support level of 1830.00. The pair is expected to find its first resistance at 1880.00, and a rise through could take it to the next resistance level of 1898.00. Today’s expected trading range is between 1822.00, support and 1898.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1847.00
Support 2: 1830:00
Support 3: 1822:00
Important resistance levels:
Resistance 1: 1880.00
Resistance 2: 1898.00
Resistance 3: 1930.00
Gold buying opportunity for intraday trading on December 8, 2020
Buy near the support zones 1847.00 and 1830.00 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 December 8, 2020
Sell near the resistance zones 1880.00 and 1898.00 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.