Gold Technical Analysis 11 December 2020
Gold Technical Analysis: The Gold declined 0.14% against the USD on Thursday and closed at 1836.40. Today in the Asian session, while Gold technical Analysis 11 December 2020 is preparing at 5:15 GMT, the XAU/USD trading at 1835.00, which is 0.05% lower from Yesterday’s close.
The Gold is expected to find support at 1826.00, and a fall through could take it to the next support level of 1822.00. The pair is expected to find its first resistance at 1849.00, and a rise through could take it to the next resistance level of 1860.00. Today’s expected trading range is between 1798.00, support and 1875.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1826.00
Support 2: 1822:00
Support 3: 1798:00
Important resistance levels:
Resistance 1: 1849.00
Resistance 2: 1860.00
Resistance 3: 1875.00
Gold buying opportunity for intraday trading on December 11, 2020
Buy near the support zones 1826.00 and 1822.00 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 11, 2020
Sell near the resistance zones 1849.00 and 1860.00 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.