Gold Technical Analysis XAUUSD: Weak Upside

Gold Technical Analysis XAUUSD: Gold is trading in a weak uptrend today, having retreated from its all-time high of $2,790 per ounce, reaching a low of $2,768, and is currently trading at $2,769 per ounce. This movement indicates instability in prices.

Gold Technical Analysis XAUUSD Technical Analysis:

Technical data indicates that prices are trading below the moving averages, reflecting the weakness of the current uptrend. On the other hand, the MACD indicator is showing a positive but weak trend, which enhances the possibility of a turn to the downside.

Forward Outlook:

If the selling pressure continues, we are likely to see a downside trend shift. Any signs of momentum reversal or price changes that could indicate a potential recovery should be monitored.

Gold Technical Analysis XAUUSD

Trading strategies based on Buy/Sell levels

XAUUSD In case of buying           in case of selling
Entry point 2776 2766
Target Point 1 (TP1) First resistance: 2781 First support: 2760
Target Point 2 (TP2) Second resistance: 2785 Second support: 2754
Stop Loss (SL) 2766 2776

 

The gold market appears to be in a volatile state, with signs of a weakening uptrend and negative potential for a bearish turn. It is important to follow future developments carefully, as they may influence price movements in the coming days.

Related Articles