Gold Technical Analysis 13 October 2020
Gold Technical Analysis: The Gold declined 0.21% against the USD on Friday and closed at 1922.50. Today in the Asian session, while Gold technical Analysis 13 October 2020 is preparing at 5:15 GMT, the XAU/USD trading at 1915.00, which is 0.40% lower from Yesterday’s close.
The Gold is expected to find support at 1910.00, and a fall through could take it to the next support level of 1901.00. The pair is expected to find its first resistance at 1925.00, and a rise through could take it to the next resistance level of 1931.00. Today’s expected trading range is between 1882.00, support and 1940.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1910.00
Support 2: 1901:00
Support 3: 1982:00
Important resistance levels:
Resistance 1: 1925.00
Resistance 2: 1931.00
Resistance 3: 1940.00
Gold buying opportunity for intraday trading on October 13, 2020
Buy near the support zones 1010.00 and 1901.00 as soon as you get a reversal candlestick pattern, using a stop loss 2 points below the low of the reversal candle, and keep the target equal to the stop loss.
Gold selling opportunity for intraday trading on October 13, 2020
Sell near the resistance zones 1925.00 and 1931.00 as soon as you get a reversal candlestick pattern, using a stop loss 2 points above the high of the reversal candle, and keep the target equal to the stop loss.