Gold Technical Analysis Sep 16, 2019
Gold Technical Analysis: The Gold declined 0.61% against the USD on Friday and closed at 1488.40. Today in the European session while Gold technical Analysis Sep 16, 2019 is preparing at 7:45 GMT, the XAU/USD trading at 1503.00, which is 0.98% higher from Yesterday’s close.
The Gold is expected to find support at 1480.00, and a fall through could take it to the next support level of 1471.00. The pair is expected to find its first resistance at 1503.00, and a rise through could take it to the next resistance level of 1517.00. For today the expected trading range is betwee 1480.00, Support and 1526.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1480.00, Support 2: 1471:00, Support 3: 1456:00
Resistance Levels: Resistance 1: 1503.00, Resistance 2: 1517.00, Resistance 3: 1526.00
Gold Buying Opportunity for Intraday Trading Aug 16, 2019
Buy near the support area 1480.00 and 1471.00 as soon as you get reversal candlesticks patterns using stop loss 2 pips below the low of reversal candlestick & keep target equal to stop loss.
Gold Selling Opportunity for Intraday Trading Aug 16, 2019
Sell near the resistance area 1503.00 and 1517.00 as soon as you get reversal candlesticks patterns using stop loss 2 pips above the high of reversal candlestick & keep target equal to stop loss.