Gold Technical Analysis XAUUSD in an upward trend at a price of $2916.30 per ounce, trading appears in an upward trend, as the price of gold is trading below the intersections of the Moving Average indicators, as for the MACD indicator, it indicates the emergence of a weak positive trend
Based on that, we can look to buy from the rise to a price of $2923.43 per ounce, and target the $2932.83 per ounce area to reap profits, with the $2903.45 per ounce area as a stop loss.
Gold Technical Analysis XAUUSD: On the other hand
On the other hand, if the selling area of $2903.45 per ounce is broken, the price may head to the $2895.82 per ounce area.
Gold Technical Analysis XAUUSD: Resistance and support levels
- Second resistance: 2923.44
- First resistance: 2919.97
- Pivot level: 2917.13
- First support: 2913.66
- Second support: 2907.55
