Gold Technical Analysis (XAUUSD): The price of gold is trading today at $2,997.82 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 $3,004.99 per ounce, targeting the $3,014.16 per ounce area to take profits, with the $2,986.08 per ounce area as a stop-loss.
Gold Technical Analysis (XAUUSD): On the Other Hand
On the other hand, if the $2986.08/ounce sell zone is broken, the price may head to the $2978.05/ounce area.
Gold Technical Analysis (XAUUSD): Resistance and Support Levels
- Second Resistance: 3002.46
- First Resistance: 3000.12
- Pivot Level: 2998.16
- First Support: 2995.82
- Second Support: 2991.55
