Gold Technical Analysis 29 May 2020
Gold Technical Analysis: The Gold rose 0.55% against the USD on Thursday and closed at 1719.00. Today in the European session while Gold technical Analysis 29 May 2020 is preparing at 7:15 GMT, the XAU/USD trading at 1729.00, which is 0.64% higher from Yesterday’s close.
The Gold is expected to find support at 1708.00, and a fall through could take it to the next support level of 1697.00. The pair is expected to find its first resistance at 1738.00, and a rise through could take it to the next resistance level of 1749.00. For today the expected trading range is betwee 1708.00, Support and 1749.00 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1708.00, Support 2: 1697:00, Support 3: 1687:00
Resistance Levels: Resistance 1: 1728.00, Resistance 2: 1738.00, Resistance 3: 1749.00
Gold Buying Opportunity for Intraday Trading 29 May 2020
Buy near the support area 1708.00 and 1697.00 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 29 May 2020
Sell near the resistance area 1738.00 and 1749.00 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.