Gold Technical Analysis February 6, 2019
The Gold rose 0.23% against the USD on Tuesday and closed at 1314.90 Today in the European session while Gold technical analysis February 6, 2019 is preparing at 9:45 GMT, the XAU/USD trading at 1314.00, which is 0.07% lower from Yesterday’s close.
The Gold is expected to find support at 1311.00, and a fall through could take it to the next support level of 1308.00. The pair is expected to find its first resistance at 1317.50, and a rise through could take it to the next resistance level of 1320.00. For today the expected trading range is betwee 1305.00, Support and 1324.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1311.00 Support 2: 1308:00 Support 3: 1305:00
Resistance Levels: Resistance 1: 1317.50 Resistance 2: 1320.00 Resistance 3: 1324.00
Gold Buying Opportunity for Intraday Trading February 6, 2019
Buy near the support area 1311.00 and 1308.00 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 February 6, 2019
Sell near the resistance area 1317.50 and 1320.00 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.