Gold Technical Analysis Gold closed last week on the rise at $2502 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 $2499 per ounce, and target the $2493 per ounce area to take profits with the $2508 area For an ounce as a stop loss.
Gold Technical Analysis XAUUSD: On the other hand
On the other hand, if the $2508 per ounce buy zone is broken, the price may head to the $2512 per ounce zone.
Gold Technical Analysis XAUUSD: Resistance and support levels
- Second resistance: 2503.89
- First resistance: 2503.06
- Pivot level: 2502.55
- First support: 2501.59
- Second support: 2500.75
