Gold Technical Analysis December 5, 2018
The Gold rose 0.63% against the USD on Tuesday and closed at 1238.50. Today in the European session while Gold technical analysis December 5, 2018 is preparing at 7:45 GMT, the XAU/USD trading at 1236.00, which is 0.20% lower from Yesterday’s close.
The Gold is expected to find support at 1232.00, and a fall through could take it to the next support level of 1225.00. The pair is expected to find its first resistance at 1243.50, and a rise through could take it to the next resistance level of 1248.00. For today the expected trading range is betwee 1225.00, Support and 1248.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1232.00 Support 2: 1225:00 Support 3: 1220:00
Resistance Levels: Resistance 1: 1243.50 Resistance 2: 1248.00 Resistance 3: 1255.00
Gold Buying Opportunity for Intraday Trading December 5, 2018
Buy near the support area 1232.00 and 1220.00 as soon as you get reversal candlesticks patterns using stop loss 4 pips below the reversal candlestick & keep target equal to stop loss.
Gold Selling Opportunity for Intraday Trading December 5, 2018
Sell near the resistance area 1243.50 and 1248.00 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.