Gold Technical Analysis Gold closed last week down at $2465 per ounce, trading appears in a downward trend, as the gold price is trading below the Moving Average indicators intersections, as for the MACD indicator, it indicates a negative trend
Accordingly, we can look to sell from the decline to $2490 per ounce, and target the $2483 per ounce area to take profits with the area $2501 per ounce as a stop loss.
Gold Technical Analysis XAUUSD: On the other hand
On the other hand, if the $2501 per ounce buy zone is broken, the price may head to the $2505 per ounce zone.
Gold Technical Analysis XAUUSD: Resistance and support levels
- Second resistance: 2497.10
- First resistance: 2496.56
- Pivot level: 2495.88
- First support: 2495.00
- Second support: 2494.60
