Gold Technical Analysis 28 August 2020
Gold Technical Analysis: The Gold declined 1.21% against the USD on Wednesday and closed at 1928.00. Today in the Asian session, while Gold technical Analysis 28 August 2020 is preparing at 5:45 GMT, the XAU/USD trading at 1956.00, which is 1.45% higher from Yesterday’s close.
The Gold is expected to find support at 1911.00, and a fall through could take it to the next support level of 1900.00. The pair is expected to find its first resistance at 1967.00, and a rise through could take it to the next resistance level of 1976.00. Today’s expected trading range is between 1800.00, support and 1976.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1911.00
Support 2: 1900:00
Support 3: 1870:00
Important resistance levels:
Resistance 1: 1967.00
Resistance 2: 1976.00
Resistance 3: 1990.00
Gold buying opportunity for intraday trading on August 28, 2020
Buy near the support zones 1911.00 and 1900.00 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 August 28, 2020
Sell near the resistance zones 1967.00 and 1976.00 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.