Gold Technical Analysis 21 April 2020
Gold Technical Analysis: The Gold rose 0.71% against the USD on Monday and closed at 1695.00. Today in the Asian session while Gold technical Analysis 21 April 2020 is preparing at 7:15 GMT, the XAU/USD trading at 1693.00, which is 0.11% lower from Yesterday’s close.
The Gold is expected to find support at 1677.00, and a fall through could take it to the next support level of 1659.00. The pair is expected to find its first resistance at 1708.00, and a rise through could take it to the next resistance level of 1721.00. For today the expected trading range is betwee 1659.00, Support and 1721.00 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1677.00, Support 2: 1659:00, Support 3: 1646:00
Resistance Levels: Resistance 1: 1708.00, Resistance 2: 1721.00, Resistance 3: 1739.00
Gold Buying Opportunity for Intraday Trading 21 April 2020
Buy near the support area 1677.00 and 1659.00 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 21 April 2020
Sell near the resistance area 1708.00 and 1721.00 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.