Gold Technical Analysis 24 December 2020
Gold Technical Analysis: The Gold rose 0.62% against the USD on Wednesday and closed at 1872.60. Today in the Asian session, while Gold technical Analysis 24 December 2020 is preparing at 5:15 GMT, the XAU/USD trading at 1877.00, which is 0.24% higher from Yesterday’s close.
The Gold is expected to find support at 1860.00, and a fall through could take it to the next support level of 1855.00. The pair is expected to find its first resistance at 1882.00, and a rise through could take it to the next resistance level of 1892.00. Today’s expected trading range is between 1820.00, support and 1905.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1860.00
Support 2: 1855:00
Support 3: 1845:00
Important resistance levels:
Resistance 1: 1882.00
Resistance 2: 1892.00
Resistance 3: 1905.00
Gold buying opportunity for intraday trading on December 24, 2020
Buy near the support zones 1860.00 and 1855.00 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 December 24, 2020
Sell near the resistance zones 1882.00 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.