Gold Technical Analysis April 16, 2019
Gold Technical Analysis: The Gold declined 0.25% against the USD on Monday and closed at 1287.50 Today in the European session while Gold technical analysis April 16, 2019 is preparing at 9:45 GMT, the XAU/USD trading at 1284.00, which is 0.27% lower from Yesterday’s close.
The Gold is expected to find support at 1282.00, and a fall through could take it to the next support level of 1277.50. The pair is expected to find its first resistance at 1294.00, and a rise through could take it to the next resistance level of 1298.00. For today the expected trading range is betwee 1273.00, Support and 1292.00 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1282.00 Support 2: 1277:50 Support 3: 1273:00
Resistance Levels: Resistance 1: 1292.00 Resistance 2: 1297.00 Resistance 3: 1301.00
Gold Buying Opportunity for Intraday Trading April 16, 2019
Buy near the support area 1282.00 and 1277.50 as soon as you get reversal candlesticks patterns using stop loss 4 pips below the reversal candlestick & keep target equal to stop loss.
Gold Selling Opportunity for Intraday Trading April 16, 2019
Sell near the resistance area 1292.00 and 1297.00 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.