American session, date: 07/18/2024
Introduction and overview
Gold continues to attract investor interest thanks to its volatile price movements. In this technical analysis, we will study the current price movement of gold, as it is trading at the 2465 level, and highlight the main technical indicators and support and resistance levels that may affect the market. Gold is currently moving within a narrow price range. Analysis of technical indicators indicates that the gold price shows weakness in most moving averages, which indicates the continuation of the upward trend. The MACD is also showing weakness in the strength of the uptrend, as gold is also trading above the short and long-term moving averages. However, the indicator is showing some signs of upward momentum.

Trading strategies based on Buy/Sell levels
XAUUSD | In case of buying | in case of selling |
Entry point | 2469 | 2461 |
Target Point 1 (TP1) | First resistance: 2474 | First support: 2455 |
Target Point 2 (TP2) | Second resistance: 2479 | Second support: 2450 |
Stop Loss (SL) | 2461 | 2469 |
Conclusion
At the end of this technical analysis, we find that the price of gold continues to attract attention thanks to its distinctive fluctuations. Although it is currently trading within a narrow price range, its continued trading above the moving averages and mixed signals from the MACD indicator enhance the possibility of continuing the upward trend in the coming period. Investors should carefully monitor support and resistance levels to understand potential developments in the gold market and make investment decisions wisely.