Gold Technical Analysis October 31, 2018
The Gold declined 0.55% against the USD on Tuesday and closed at 1222.83. Today in the European session while Gold technical analysis October 31, 2018 is preparing at 9:45 GMT, the XAU/USD trading at 1217.00, which is 0.47% lower from Yesterday’s close.
The Gold is expected to find support at 1213.50, and a fall through could take it to the next support level of 1208.00. The pair is expected to find its first resistance at 1229.00, and a rise through could take it to the next resistance level of 1235.00. For today the expected trading range is betwee 1208.00, Support and 1239.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1218.00 Support 2: 1213:50 Support 3: 1208:00
Resistance Levels: Resistance 1: 1239.00 Resistance 2: 1235.00 Resistance 3: 1240.00
Gold Buying Opportunity for Intraday Trading October 31, 2018
Buy near the support area 1213.50 and 1208.00 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 October 31, 2018
Sell near the resistance area 1235.00 and 1241.00 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.