Gold Technical Analysis 14 January 2021
Gold Technical Analysis: The Gold declined 0.56% against the USD on Wednesday 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 1840.00, which is 0.24% lower from Yesterday’s close.
The Gold is expected to find support at 1830.00, and a fall through could take it to the next support level of 1818.00. The pair is expected to find its first resistance at 1850.00, and a rise through could take it to the next resistance level of 1862.00. Today’s expected trading range is between 1800.00, support and 1870.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1830.00
Support 2: 1818:00
Support 3: 1800:00
Important resistance levels:
Resistance 1: 1850.00
Resistance 2: 1862.00
Resistance 3: 1870.00
Gold buying opportunity for intraday trading on January 14, 2021
Buy near the support zones 1837.00 and 1818.00 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 14, 2021
Sell near the resistance zones 1850.00 and 1862.00 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.