Gold Technical Analysis 28 July 2020
Gold Technical Analysis: The Gold rose 1.98% against the USD on Monday and closed at 1941.00. Today in the Asian session, while Gold technical Analysis 28 July 2020 is preparing at 5:45 GMT, the XAU/USD trading at 1942.00, which is 0.05% higher from Yesterday’s close.
The Gold is expected to find support at 1931.00, and a fall through could take it to the next support level of 1914.00. The pair is expected to find its first resistance at 1980.00, and a rise through could take it to the next resistance level of 1992.00. Today’s expected trading range is between 1898.00, support and 1998.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1931.00
Support 2: 1914:00
Support 3: 1898:00
Important resistance levels:
Resistance 1: 1980.00
Resistance 2: 1992.00
Resistance 3: 1998.00
Gold buying opportunity for intraday trading on July 28, 2020
Buy near the support zones 1931.00 and 1914.00 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 July 28, 2020
Sell near the resistance zones 1980.00 and 1992.00 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.