Gold Price broke a one-month-old rising support line, now immediate resistance near $1,963, and helped bears cheer the first weekly loss in four. However, the 200-SMA joined the oversold conditions of the Relative Strength Index (RSI) line, placed at 14, to trigger the metal’s corrective bounce afterward.
However, the recovery moves also gain support from an impending bull cross on the Moving Average Convergence and Divergence (MACD) indicator.
Even so, a clear upside break of the aforementioned support-turned-resistance surrounding $1,960-65 becomes necessary to convince the Gold buyers.
Following that, a 10-week-old horizontal resistance of around $1,985 will act as the final defense of the XAU/USD bears.
On the contrary, the Gold Price pullback remains elusive beyond the 200-SMA level of near $1,942.
In a case where the XAU/USD remains bearish past $1,942, multiple levels around $1,930 and $1,900 round figure may test the Gold bears before directing them to the previous monthly low of around $1,893.
Overall, Gold Price lacks bullish bias but the bears need validation from $1,942 to retake control.
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
더 오래된 의견은 없습니다. 소파를 가장 먼저 잡으십시오.