Gold Technical Analysis November 5, 2018
The Gold declined 0.07% against the USD on Friday and closed at 1232.70. Today in the European session while Gold technical analysis November 5, 2018 is preparing at 8:45 GMT, the XAU/USD trading at 1232.00, which is 0.05% lower from Yesterday’s close.
Gold technical analysis 5 November 5018
The Gold is expected to find support at 1229.00, and a fall through could take it to the next support level of 1226.00. The pair is expected to find its first resistance at 1236.00, and a rise through could take it to the next resistance level of 1240.00. For today the expected trading range is betwee 1240.00, Support and 1222.50 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 1229.00 Support 2: 1226:00 Support 3: 1122:50
Resistance Levels: Resistance 1: 1236.00 Resistance 2: 1240.00 Resistance 3: 1243.00
Gold Buying Opportunity for Intraday Trading November 5, 2018
Buy near the support area 1229.00 and 1226.00 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 5, 2018
Sell near the resistance area 1236.00 and 1240.00 as soon as you get reversal candlesticks patterns using stop loss 4 pips above the reversal candlestick & keep target equal to stop loss.