Gold Technical Analysis (XAUUSD): Gold closed last week higher at $2,984.47 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 buying from the rise to $2,990.66 per ounce, targeting the $2,999.26 per ounce area to take profits, with the $2,972.90 per ounce area as a stop-loss.
Gold Technical Analysis (XAUUSD): On the Other Side
On the other hand, if the $2972.90/ounce sell zone is broken, the price may head to the $2965.44/ounce area.
Gold Technical Analysis (XAUUSD): Resistance and Support Levels
- Second Resistance: 2988.56
- First Resistance: 2986.45
- Pivot Level: 2984.55
- First Support: 2982.00
- Second Support: 2980.44
