Gold Technical Analysis December 12, 2018
The Gold declined 0.14% against the USD on Tuesday and closed at 1242.80. Today in the European session while Gold technical analysis December 12, 2018 is preparing at 7:45 GMT, the XAU/USD trading at 1244.00, which is 0.09% higher from Yesterday’s close.
The Gold is expected to find support at 1240.00, and a fall through could take it to the next support level of 1236.00. The pair is expected to find its first resistance at 1248.00, and a rise through could take it to the next resistance level of 1253.00. For today the expected trading range is betwee 1230.00, Support and 1256.00 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1240.00 Support 2: 1236:00 Support 3: 1230:00
Resistance Levels: Resistance 1: 1248.00 Resistance 2: 1253.00 Resistance 3: 1256.00
Gold Buying Opportunity for Intraday Trading December 12, 2018
Buy near the support area 1240.00 and 1236.00 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 December 12, 2018
Sell near the resistance area 1248.00 and 1253.00 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.