Gold Technical Analysis XAUUSD: Gold prices witnessed a notable upward performance today, with the yellow metal recording a trading high of $3,029.03 and a low of $2,997.68. Currently, gold is trading around $3,026.16, reflecting the continuation of the positive momentum during the session.
Gold Technical Analysis XAUUSD: Technical Analysis
- Moving Averages:
Gold is currently trading above the major moving average levels, reflecting the strength of the uptrend. This situation indicates strong support from buyers, enhancing the likelihood of a continued upward trend in the short term.
- MACD Indicator:
The MACD indicator is showing positive signs, trading above the signal line, supporting the bullish market trend. This indicates strong buying momentum that may continue to push prices higher.
Future Outlook:
With gold prices continuing to trade above their moving averages and the MACD supporting the uptrend, expectations indicate that gold could target higher levels, especially if the resistance at $3,034.13 is decisively broken. However, support levels at $3,013.72 should be monitored, as any break above this level could signal a temporary correction.
Trading strategies based on Buy/Sell levels
| XAUUSD | In case of buying | in case of selling |
| Entry point | 3034.13 | 3013.72 |
| Target Point 1 (TP1) | First resistance: 3045.06 | First support: 3004.97 |
| Target Point 2 (TP2) | Second resistance: 3052.44 | Second support: 3000.78 |
| Stop Loss (SL) | 3013.72 | 3034.13 |
Gold is showing strong performance today amid an uptrend supported by positive technical indicators. Traders are advised to monitor key resistance and support levels, focusing on signals from technical indicators such as moving averages and MACD to make informed trading decisions. Under these conditions, positive trading opportunities appear to remain, especially as the upward momentum continues.
