Gold Technical Analysis 14 December 2020
Gold Technical Analysis: The Gold rose 0.15% against the USD on Friday and closed at 1840.00. Today in the Asian session, while Gold technical Analysis 14 December 2020 is preparing at 5:15 GMT, the XAU/USD trading at 1825.00, which is 0.80% lower from Yesterday’s close.
The Gold is expected to find support at 1820.00, and a fall through could take it to the next support level of 1802.00. 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 1790.00, support and 1860.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1820.00
Support 2: 1802:00
Support 3: 1790:00
Important resistance levels:
Resistance 1: 1849.00
Resistance 2: 1860.00
Resistance 3: 1775.00
Gold buying opportunity for intraday trading on December 14, 2020
Buy near the support zones 1820.00 and 1802.00 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 14, 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.