Gold Technical Analysis 22 May 2020
Gold Technical Analysis: The Gold declined 0.20% against the USD on Thursday and closed at 1727.00. Today in the European session while Gold technical Analysis 22 May 2020 is preparing at 7:15 GMT, the XAU/USD trading at 1735.00, which is 0.48% higher from Yesterday’s close.
The Gold is expected to find support at 1713.00, and a fall through could take it to the next support level of 1700.00. The pair is expected to find its first resistance at 1745.00, and a rise through could take it to the next resistance level of 1762.00. For today the expected trading range is betwee 1700.00, Support and 1762.00 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1713.00, Support 2: 1700:00, Support 3: 1681:00
Resistance Levels: Resistance 1: 1745.00, Resistance 2: 1762.00, Resistance 3: 1776.00
Gold Buying Opportunity for Intraday Trading 22 May 2020
Buy near the support area 1713.00 and 1700.00 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 22 May 2020
Sell near the resistance area 1745.00 and 1762.00 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.