Gold Technical Analysis (XAUUSD): Gold closed last week higher at $3,085.22 per ounce. Trading appears to be in an upward trend, as the price of gold is trading above the Moving Average crossovers. The MACD indicator indicates a positive trend.
Based on this, we can consider selling from a decline to $3,089.11 per ounce, targeting the $3,096.34 per ounce area to take profits, with the $3,073.74 per ounce area as a stop-loss.
Gold Technical Analysis (XAUUSD): On the Other Side
On the other hand, if the $3,073.74/ounce sell zone is broken, the price may head to the $3,067.41/ounce area.
Gold Technical Analysis (XAUUSD): Resistance and Support Levels
- Second Resistance: 3,089.45
- First Resistance: 3,087.25
- Pivot Level: 3,085.66
- First Support: 3,083.85
- Second Support: 3,081.40
