Gold Technical Analysis XAUUSD :Gold closed last week with a decline at a price of $ 2651 per ounce, trading appears at the beginning of a downward trend, as the price of gold is trading below the intersections of the Moving Average indicators, as for the MACD indicator, it indicates the beginning of a negative trend
Accordingly, we can look to sell from the decline to a price of $ 2642 per ounce, and target the $ 2630 per ounce area to reap profits, with the $ 2664 per ounce area as a stop loss.
Gold Technical Analysis XAUUSD: On the other hand
On the other hand, if the $2664 per ounce buy zone is broken, the price may head to the $2672 per ounce zone.
Gold Technical Analysis XAUUSD: Resistance and support levels
- Second resistance: 2663
- First resistance: 2657
- Pivot level: 2652
- First support: 2646
- Second support: 2641
