Gold Technical Analysis (XAUUSD): The price of gold is trading today at $2,978.20 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 $2,986.49 per ounce, targeting the $2,998.97 per ounce area to take profits, with the $2,959.73 per ounce area as a stop-loss.
Gold Technical Analysis (XAUUSD): On the Other Hand
On the other hand, if the $2959.73/oz sell zone is broken, the price may head to the $2949.02/oz area.
Gold Technical Analysis (XAUUSD): Resistance and Support Levels
- Second Resistance: 2982.55
- First Resistance: 2979.25
- Pivot Level: 2978.13
- First Support: 2976.25
- Second Support: 2974.55
