Gold Technical Analysis 29 January 2021
Gold Technical Analysis: The Gold declined 0.05% against the USD on Thursday and closed at 1842.50. Today in the Asian session, while Gold technical Analysis 28 December 2020 is preparing at 5:15 GMT, the XAU/USD trading at 1852.00, which is 0.52% higher from Yesterday’s close.
The Gold is expected to find support at 1835.00, and a fall through could take it to the next support level of 1830.00. The pair is expected to find its first resistance at 1860.00, and a rise through could take it to the next resistance level of 1867.00. Today’s expected trading range is between 1810.00, support and 1875.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1835.00
Support 2: 1830:00
Support 3: 1810:00
Important resistance levels:
Resistance 1: 1860.00
Resistance 2: 1867.00
Resistance 3: 1875.00
Gold buying opportunity for intraday trading on January 29, 2021
Buy near the support zones 1835.00 and 1830.00 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 January 29, 2021
Sell near the resistance zones 1860.00 and 1867.00 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.