Gold Technical Analysis 22 December 2020
Gold Technical Analysis: The Gold declined 0.32% against the USD on Monday and closed at 1876.40. Today in the Asian session, while Gold technical Analysis 22 December 2020 is preparing at 5:15 GMT, the XAU/USD trading at 1868.00, which is 0.44% lower from Yesterday’s close.
The Gold is expected to find support at 1855.00, 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 1884.00, and a rise through could take it to the next resistance level of 1895.00. Today’s expected trading range is between 1820.00, support and 1905.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1855.00
Support 2: 1845:00
Support 3: 1820:00
Important resistance levels:
Resistance 1: 1884.00
Resistance 2: 1895.00
Resistance 3: 1905.00
Gold buying opportunity for intraday trading on December 22, 2020
Buy near the support zones 1855.00 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 22, 2020
Sell near the resistance zones 1884.00 and 1895.00 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.