Gold Technical Analysis 14 May 2020
Gold Technical Analysis: The Gold rose 0.69% against the USD on Wednesday and closed at 1715.00. Today in the European session while Gold technical Analysis 14 May 2020 is preparing at 7:15 GMT, the XAU/USD trading at 1714.00, which is 0.05% lower from Yesterday’s close.
The Gold is expected to find support at 1703.00, and a fall through could take it to the next support level of 1692.00. The pair is expected to find its first resistance at 1723.00, and a rise through could take it to the next resistance level of 1730.00. For today the expected trading range is betwee 1692.00, Support and 1742.00 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1703.00, Support 2: 1692:00, Support 3: 1684:00
Resistance Levels: Resistance 1: 1723.00, Resistance 2: 1730.00, Resistance 3: 1742.00
Gold Buying Opportunity for Intraday Trading 14 May 2020
Buy near the support area 1703.00 and 1692.00 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 14 May 2020
Sell near the resistance area 1723.00 and 1730.00 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.