Gold Technical Analysis (XAUUSD): The price of gold is trading today at $3,116.66 per ounce. Trading appears to be in an upward trend, as the price is trading above most of the Moving Average crossovers. The MACD indicator indicates a positive trend.
Accordingly, if we buy, we will wait for a rise to $3,122.48 per ounce, targeting the $3,131.95 per ounce area to take profits, with the $3,102.99 per ounce area as a stop-loss.
Gold Technical Analysis (XAUUSD): On the Other Hand
On the other hand, if the $3102.99/ounce sell zone is broken, the price may head to the $3095.75/ounce area.
Gold Technical Analysis (XAUUSD): Resistance and Support Levels
- Second Resistance: 3120.55
- First Resistance: 3118.20
- Pivot Level: 3116.75
- First Support: 3114.05
- Second Support: 3112.45
