Gold Technical Analysis 3 December 2020
Gold Technical Analysis: The Gold rose 0.97% against the USD on Wednesday and closed at 1830.70. Today in the Asian session, while Gold technical Analysis 3 December 2020 is preparing at 5:15 GMT, the XAU/USD trading at 1840.00, which is 0.49% higher from Yesterday’s close.
The Gold is expected to find support at 1822.00, and a fall through could take it to the next support level of 1815.00. 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 1865.00. Today’s expected trading range is between 1800.00, support and 1880.00 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 1822.00
Support 2: 1815:00
Support 3: 1800:00
Important resistance levels:
Resistance 1: 1853.00
Resistance 2: 1865.00
Resistance 3: 1880.00
Gold buying opportunity for intraday trading on December 3, 2020
Buy near the support zones 1822.00 and 1815.00 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 3, 2020
Sell near the resistance zones 1853.00 and 1865.00 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.