Gold Technical Analysis 18 December 2020
Gold Technical Analysis: The Gold rose 1.20% against the USD on Thursday and closed at 1886.00. Today in the Asian session, while Gold technical Analysis 18 December 2020 is preparing at 5:15 GMT, the XAU/USD trading at 1881.00, which is 0.27% lower from Yesterday’s close.
The Gold is expected to find support at 1865.00, and a fall through could take it to the next support level of 1845.00. The pair is expected to find its first resistance at 1895.00, and a rise through could take it to the next resistance level of 1900.00. Today’s expected trading range is between 1845.00, support and 1920.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1865.00
Support 2: 1845:00
Support 3: 1819:00
Important resistance levels:
Resistance 1: 1895.00
Resistance 2: 1900.00
Resistance 3: 1920.00
Gold buying opportunity for intraday trading on December 18, 2020
Buy near the support zones 1865.00 and 1845.00 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 18, 2020
Sell near the resistance zones 1895.00 and 1900.00 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.