Gold Technical Analysis November 9, 2018
The Gold declined 0.23% against the USD on Thursday and closed at 1223.33. Today in the European session while Gold technical analysis November 9, 2018 is preparing at 8:45 GMT, the XAU/USD trading at 1221.00, which is 0.19% lower from Yesterday’s close.
The Gold is expected to find support at 1216.00, and a fall through could take it to the next support level of 1213.00. The pair is expected to find its first resistance at 1227.00, and a rise through could take it to the next resistance level of 1230.00. For today the expected trading range is betwee 1213.00, Support and 1230.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1220.00 Support 2: 1216:00 Support 3: 1213:00
Resistance Levels: Resistance 1: 1227.00 Resistance 2: 1230.00 Resistance 3: 1234.00
Gold Buying Opportunity for Intraday Trading November 9, 2018
Buy near the support area 1216.00 and 1213.00 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 November 9, 2018
Sell near the resistance area 1237.00 and 1230.00 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.