Gold Technical Analysis XAUUSD. The precious metal “gold” retreated today after trying to break the $2518 per ounce area, but failed to achieve this break. However, as the chart shows, the bulls’ resistance to the bears indicates that gold will continue to rise.
Gold Technical Analysis: Technical Forecast
Gold is currently trading at $2509 per ounce. Trading shows weakness in most of the moving average crosses, indicating a decline in momentum. In addition, the MACD indicator shows weakness in the downward trend, which means that the downward trend may be on its way to slowing down or even stopping.
MACD Forecast for the Coming Period?
MACD Forecast for the Coming Period indicates a possible improvement in the bullish trend for gold. Since the MACD indicator is currently showing weakness in the downward trend, this may indicate that selling pressure is easing, and that there is a possibility of new bullish signals appearing.
If the MACD indicator continues to show signs of buying strength, we may see an increase in the bullish momentum for gold, which may enhance the possibility of breaking the resistance levels and returning to the upside. Any changes in the MACD indicator should be followed carefully to adjust trading strategies according to the latest technical signals.
Trading strategies based on Buy/Sell levels
| XAUUSD | In case of buying | in case of selling |
| Entry point | 2513 | 2504 |
| Target Point 1 (TP1) | First resistance: 2520 | First support: 2498 |
| Target Point 2 (TP2) | Second resistance: 2525 | Second support: 2495 |
| Stop Loss (SL) | 2504 | 2513 |
In conclusion. Despite the current decline and an attempt to break the resistance level, the bulls’ support and indicators of weak downtrend may support the possibility of continuing the rise. The key support and resistance levels should be monitored and the analysis updated based on the upcoming price movements.
