Gold Technical Analysis 28 October 2020
Gold Technical Analysis: The Gold rose 0.28% against the USD on Tuesday and closed at 1907.30. Today in the Asian session, while Gold technical Analysis 28 October 2020 is preparing at 5:15 GMT, the XAU/USD trading at 1907.00, which is 0.01% lower from Yesterday’s close.
The Gold is expected to find support at 1898.00, and a fall through could take it to the next support level of 1890.00. 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 1914.00. Today’s expected trading range is between 1882.00, support and 1931.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1898.00
Support 2: 1890:00
Support 3: 1882:00
Important resistance levels:
Resistance 1: 1910.00
Resistance 2: 1914.00
Resistance 3: 1931.00
Gold buying opportunity for intraday trading on October 28, 2020
Buy near the support zones 1898.00 and 1890.00 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 October 28, 2020
Sell near the resistance zones 1910.00 and 1914.00 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.