Gold Technical Analysis XAUUSD closed last week with a weak rise at $2909.37 per ounce, trading appears in a weak 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 $2913.71 per ounce, and target the $2921.28 per ounce area to reap profits, with the $2901.52 per ounce area as a stop loss.
Gold Technical Analysis XAUUSD: On the other hand
On the other hand, if the selling area of $2901.52 per ounce is broken, the price may head to the area of $2895.63 per ounce.
Gold Technical Analysis XAUUSD: Resistance and support levels
- Second resistance: 2914.02
- First resistance: 2912.20
- Pivot level: 2909.45
- First support: 2907.55
- Second support: 2905.40
