GOLD Stop the downward trend
Analysis 
GOLD
It’s worth noting, however, that the Relative Strength Index (RSI) line, placed at 14, remains below 50.0 and suggests bottom-picking, which in turn highlights the 61.8% Fibonacci retracement of the Gold Price run-up from late February to May, near $1,910.
In a case where the XAU/USD drops below $1,910, the $1,900 round figure will precede the 200-DMA surrounding $1,897 and June’s bottom of near $1,893 to challenge the further downside.
Meanwhile, the Gold Price recovery needs to provide a daily closing beyond the $1,942–45 resistance confluence comprising the 50-DMA and 50% Fibonacci retracement.
Following that, a three-month-long descending resistance line surrounding $1,960 will be crucial to watch as it holds the key to the XAU/USD’s further advances.
GOLD It’s worth noting, however, that the Relative Strength Index (RSI) line, placed at 14, remains below 50.0 and suggests bottom-picking, which in turn highlights the 61.8% Fibonacci retracement of the Gold Price run-up from late February to May, near $1,910.
In a case where the XAU/USD drops below $1,910, the $1,900 round figure will precede the 200-DMA surrounding $1,897 and June’s bottom of near $1,893 to challenge the further downside.
Meanwhile, the Gold Price recovery needs to provide a daily closing beyond the $1,942–45 resistance confluence comprising the 50-DMA and 50% Fibonacci retracement.
Following that, a three-month-long descending resistance line surrounding $1,960 will be crucial to watch as it holds the key to the XAU/USD’s further advances.
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.