Gold Technical Analysis November 16, 2018
The Gold rose 0.17% against the USD on Thursday and closed at 1212.65. Today in the European session while Gold technical analysis November 16, 2018 is preparing at 5:45 GMT, the XAU/USD trading at 1214.50, which is 0.15% higher from Yesterday’s close.
The Gold is expected to find support at 1208.00, and a fall through could take it to the next support level of 1203.00. The pair is expected to find its first resistance at 1217.00, and a rise through could take it to the next resistance level of 1221.00. For today the expected trading range is betwee 1213.00, Support and 1225.50 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1208.00 Support 2: 1203:00 Support 3: 1199:00
Resistance Levels: Resistance 1: 1217.00 Resistance 2: 1221.00 Resistance 3: 1225.50
Gold Buying Opportunity for Intraday Trading November 16, 2018
Buy near the support area 1208.00 and 1203.00 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 November 16, 2018
Sell near the resistance area 1217.00 and 1221.00 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.