Gold Technical Analysis 5 January 2021
Gold Technical Analysis: The Gold rose 1.76% against the USD on Monday and closed at 1943.20. Today in the Asian session, while Gold technical Analysis 28 December 2020 is preparing at 5:15 GMT, the XAU/USD trading at 1939.00, which is 0.21% lower from Yesterday’s close.
The Gold is expected to find support at 1919.00, and a fall through could take it to the next support level of 1906.00. The pair is expected to find its first resistance at 1955.00, and a rise through could take it to the next resistance level of 1965.00. Today’s expected trading range is between 1900.00, support and 1975.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1919.00
Support 2: 1916:00
Support 3: 1900:00
Important resistance levels:
Resistance 1: 1955.00
Resistance 2: 1965.00
Resistance 3: 1975.00
Gold buying opportunity for intraday trading on January 5, 2021
Buy near the support zones 1919.00 and 1806.00 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 5, 2021
Sell near the resistance zones 1955.00 and 1965.00 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.