Gold Technical Analysis 13 May 2020
Gold Technical Analysis: The Gold rose 0.33% against the USD on Tuesday and closed at 1702.00. Today in the European session while Gold technical Analysis 13 May 2020 is preparing at 7:15 GMT, the XAU/USD trading at 1700.00, which is 0.11% lower from Yesterday’s close.
The Gold is expected to find support at 1693.60, and a fall through could take it to the next support level of 1685.00. The pair is expected to find its first resistance at 1711.00, and a rise through could take it to the next resistance level of 1720.00. For today the expected trading range is betwee 1685.00, Support and 1728.00 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1693.60, Support 2: 1685:00, Support 3: 1676:00
Resistance Levels: Resistance 1: 1711.00, Resistance 2: 1720.00, Resistance 3: 1728.00
Gold Buying Opportunity for Intraday Trading 13 May 2020
Buy near the support area 1693.60 and 1685.00 as soon as you get reversal candlesticks patterns using stop loss 2 pips below the low of reversal candlestick & keep target equal to stop loss.
Gold Selling Opportunity for Intraday Trading 13 May 2020
Sell near the resistance area 1711.00 and 1720.00 as soon as you get reversal candlesticks patterns using stop loss 2 pips above the high of reversal candlestick & keep target equal to stop loss.