Gold Technical Analysis 29 December 2020
Gold Technical Analysis: The Gold declined 0.80% against the USD on Monday and closed at 1873.00. Today in the Asian session, while Gold technical Analysis 28 December 2020 is preparing at 5:15 GMT, the XAU/USD trading at 1879.00, which is 0.32% higher from Yesterday’s close.
The Gold is expected to find support at 1871.00, and a fall through could take it to the next support level of 1861.00. The pair is expected to find its first resistance at 1892.00, and a rise through could take it to the next resistance level of 1900.00. Today’s expected trading range is between 1855.00, support and 1905.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1871.00
Support 2: 1861:00
Support 3: 1855:00
Important resistance levels:
Resistance 1: 1892.00
Resistance 2: 1900.00
Resistance 3: 1905.00
Gold buying opportunity for intraday trading on December 29, 2020
Buy near the support zones 1871.00 and 1861.00 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 29, 2020
Sell near the resistance zones 1892.00 and 1900.00 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.