Gold Technical Analysis 29 June 2021
Gold Technical Analysis: The Gold declined 0.12% against the USD on Monday and closed at 1779.00. Today in the Asian session, while Gold technical Analysis 29 June 2021 is preparing at 5:15 GMT, the XAU/USD trading at 1771.00, which is 0.41% lower from Yesterday’s close.
The Gold is expected to find support at 1768.00, and a fall through could take it to the next support level of 1760.00. The pair is expected to find its first resistance at 1778.00, and a rise through could take it to the next resistance level of 1785.00. Today’s expected trading range is between 1750.00, support and 1795.00 resistance.
The expected trend for today is Bearish
Important support levels:
Support 1: 1768.00
Support 2: 1760:00
Support 3: 1750:00
Important resistance levels:
Resistance 1: 1778.00
Resistance 2: 1785.00
Resistance 3: 1795.00
Gold buying opportunity for intraday trading on June 29, 2021
Buy near the support zones 1768.00 and 1760.00 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 June 29, 2021
Sell near the resistance zones 1778.00 and 1785.00 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.