Gold Price stays well beneath the $1,898 resistance confluence comprising Fibonacci 38.2% in one week, 100-SMA on one-hour and the previous daily high.
Adding strength to the downside bias is the XAU/USD’s sustained trading below $1,892 immediate hurdle including the Fibonacci 61.8% on one-day and the middle band of the Bollinger on the hourly play.
It’s worth noting that the convergence of the 10-DMA and Pivot Point one-week R1, close to $1,910, acts as the final defense of the Gold bears, a break of which could convince the buyers to return to the table.
Alternatively, the previous weekly low and Pivot Point one-day S1 puts a floor under the Gold Price near $1,885.
Following that, the $1,878 becomes a crucial support as it comprises the lower band of the Bollinger on the daily chart, as well as the Pivot Point one-week S1.
In a case where the Gold Price remains bearish past $1,878, the $1,865 support confluence, encompassing Pivot Point one-month S2, will be in the spotlight.
Gold Sell 1888
Target 1884
Target 1880
Target 1870
Sl 1898
Adding strength to the downside bias is the XAU/USD’s sustained trading below $1,892 immediate hurdle including the Fibonacci 61.8% on one-day and the middle band of the Bollinger on the hourly play.
It’s worth noting that the convergence of the 10-DMA and Pivot Point one-week R1, close to $1,910, acts as the final defense of the Gold bears, a break of which could convince the buyers to return to the table.
Alternatively, the previous weekly low and Pivot Point one-day S1 puts a floor under the Gold Price near $1,885.
Following that, the $1,878 becomes a crucial support as it comprises the lower band of the Bollinger on the daily chart, as well as the Pivot Point one-week S1.
In a case where the Gold Price remains bearish past $1,878, the $1,865 support confluence, encompassing Pivot Point one-month S2, will be in the spotlight.
Gold Sell 1888
Target 1884
Target 1880
Target 1870
Sl 1898
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