Gold Technical Analysis 21 December 2020
Gold Technical Analysis: The Gold declined 0.20% against the USD on Friday and closed at 1880.50. Today in the Asian session, while Gold technical Analysis 21 December 2020 is preparing at 5:15 GMT, the XAU/USD trading at 1900.00, which is 1.00% higher from Yesterday’s close.
The Gold is expected to find support at 1877.00, and a fall through could take it to the next support level of 1865.00. The pair is expected to find its first resistance at 1910.00, and a rise through could take it to the next resistance level of 1924.00. Today’s expected trading range is between 1865.00, support and 1924.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1877.00
Support 2: 1965:00
Support 3: 1845:00
Important resistance levels:
Resistance 1: 1910.00
Resistance 2: 1924.00
Resistance 3: 1965.00
Gold buying opportunity for intraday trading on December 21, 2020
Buy near the support zones 1877.00 and 1865.00 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 21, 2020
Sell near the resistance zones 1910.00 and 1924.00 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.