Gold Technical Analysis 15 October 2020
Gold Technical Analysis: The Gold declined 0.38% against the USD on Wednesday and closed at 1890.40. Today in the Asian session, while Gold technical Analysis 15 October 2020 is preparing at 5:15 GMT, the XAU/USD trading at 1892.00, which is 0.53% lower from Yesterday’s close.
The Gold is expected to find support at 1882.00, and a fall through could take it to the next support level of 1872.00. The pair is expected to find its first resistance at 1915.00, and a rise through could take it to the next resistance level of 1925.00. Today’s expected trading range is between 1867.00, support and 1925.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1882.00
Support 2: 1872:00
Support 3: 1867:00
Important resistance levels:
Resistance 1: 1915.00
Resistance 2: 1925.00
Resistance 3: 1933.00
Gold buying opportunity for intraday trading on October 15, 2020
Buy near the support zones 1882.00 and 1872.00 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 15, 2020
Sell near the resistance zones 1915.00 and 1925.00 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.