Gold Technical Analysis 21 January 2021
Gold Technical Analysis: The Gold rose 1.65% against the USD on Wednesday and closed at 1871.40. Today in the Asian session, while Gold technical Analysis 28 December 2020 is preparing at 5:15 GMT, the XAU/USD trading at 1870.00, which is 0.07% lower from Yesterday’s close.
The Gold is expected to find support at 1856.00, and a fall through could take it to the next support level of 1845.00. The pair is expected to find its first resistance at 1885.00, and a rise through could take it to the next resistance level of 1892.00. Today’s expected trading range is between 1845.00, support and 1899.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1856.00
Support 2: 1845:00
Support 3: 1832:00
Important resistance levels:
Resistance 1: 1885.00
Resistance 2: 1892.00
Resistance 3: 1899.00
Gold buying opportunity for intraday trading on January 21, 2021
Buy near the support zones 1856.00 and 1845.00 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 January 21, 2021
Sell near the resistance zones 1885.00 and 1892.00 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.