Gold Technical Analysis 12 January 2021
Gold Technical Analysis: The Gold declined 0.55% against the USD on Monday and closed at 1844.00. Today in the Asian session, while Gold technical Analysis 28 December 2020 is preparing at 5:15 GMT, the XAU/USD trading at 1858.00, which is 0.77% higher from Yesterday’s close.
The Gold is expected to find support at 1839.00, and a fall through could take it to the next support level of 1820.00. The pair is expected to find its first resistance at 1861.00, and a rise through could take it to the next resistance level of 1870.00. Today’s expected trading range is between 1820.00, support and 1891.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1839.00
Support 2: 1820:00
Support 3: 1800:00
Important resistance levels:
Resistance 1: 1861.00
Resistance 2: 1870.00
Resistance 3: 1991.00
Gold buying opportunity for intraday trading on January 12, 2021
Buy near the support zones 1839.00 and 1820.00 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 12, 2021
Sell near the resistance zones 1861.00 and 1870.00 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.