Gold Technical Analysis 11 January 2021
Gold Technical Analysis: The Gold declined 3.47% against the USD on Friday and closed at 1849.00. Today in the Asian session, while Gold technical Analysis 28 December 2020 is preparing at 5:15 GMT, the XAU/USD trading at 1850.00, which is 0.05% higher from Yesterday’s close.
The Gold is expected to find support at 1812.00, and a fall through could take it to the next support level of 1800.00. The pair is expected to find its first resistance at 1870.00, and a rise through could take it to the next resistance level of 1876.00. Today’s expected trading range is between 1765.00, support and 1891.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1812.00
Support 2: 1800:00
Support 3: 1765:00
Important resistance levels:
Resistance 1: 1870.00
Resistance 2: 1876.00
Resistance 3: 1991.00
Gold buying opportunity for intraday trading on January 11, 2021
Buy near the support zones 1812.00 and 1800.00 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 January 11, 2021
Sell near the resistance zones 1870.00 and 1876.00 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.