Gold Technical Analysis November 2, 2018
The Gold rose 1.48% against the USD on Thursday and closed at 1233.00. Today in the European session while Gold technical analysis November 2, 2018 is preparing at 9:45 GMT, the XAU/USD trading at 1234.65, which is 0.13% higher from Yesterday’s close.
The Gold is expected to find support at 1219.00, and a fall through could take it to the next support level of 1205.50. The pair is expected to find its first resistance at 1242.00, and a rise through could take it to the next resistance level of 1251.00. For today the expected trading range is betwee 1219.00, Support and 1242.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1219.00 Support 2: 1205:50 Support 3: 1196:50
Resistance Levels: Resistance 1: 1242.00 Resistance 2: 1251.00 Resistance 3: 1265.00
Gold Buying Opportunity for Intraday Trading November 2, 2018
Buy near the support area 1219.00 and 1205.50 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 November 2, 2018
Sell near the resistance area 1242.00 and 1251.00 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.