Gold Technical Analysis XAUUSD Gold closed last week on an increase at a price of $2860.65 per ounce, trading appears in an upward trend, as the price of gold is trading above 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 $2870.34 per ounce, and target the area of $2882.58 per ounce to reap profits, with the area of $2845.85 per ounce as a stop loss.
Gold Technical Analysis XAUUSD: On the other hand
On the other hand, if the selling area of $2845.85 per ounce is broken, the price may head to the area of $2836.49 per ounce.
Gold Technical Analysis XAUUSD: Resistance and support levels
- Second resistance: 2870.00
- First resistance: 2865.12
- Pivot level: 2860.78
- First support: 2855.45
- Second support: 2850.68
