Gold Technical Analysis XAUUSD Gold closed last week down at $2854.57 per ounce, trading appears in a downtrend, 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 negative trend
Accordingly, we can look to sell from the decline to $2847.08 per ounce, and target the $2836.43 per ounce area to reap profits, with the $2867.69 per ounce area as a stop loss.
Gold Technical Analysis XAUUSD: On the other hand
On the other hand, if the buying zone of $2867.69 per ounce is broken, the price may head to the $2877.63 per ounce area.
Gold Technical Analysis XAUUSD: Resistance and support levels
- Second resistance: 2858.52
- First resistance: 2856.12
- Pivot level: 2854.66
- First support: 2852.55
- Second support: 2850.74
