Gold Technical Analysis 27 January 2021
Gold Technical Analysis: The Gold declined 0.21% against the USD on Tuesday and closed at 1851.40. Today in the Asian session, while Gold technical Analysis 28 December 2020 is preparing at 5:15 GMT, the XAU/USD trading at 1846.00, which is 0.30% lower from Yesterday’s close.
The Gold is expected to find support at 1838.00, and a fall through could take it to the next support level of 1832.00. The pair is expected to find its first resistance at 1853.00, and a rise through could take it to the next resistance level of 1860.00. Today’s expected trading range is between 1810.00, support and 1867.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1838.00
Support 2: 1832:00
Support 3: 1810:00
Important resistance levels:
Resistance 1: 1853.00
Resistance 2: 1860.00
Resistance 3: 1867.00
Gold buying opportunity for intraday trading on January 27, 2021
Buy near the support zones 1838.00 and 1832.00 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 27, 2021
Sell near the resistance zones 1853.00 and 1850.00 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.