Xauusd sell Analysis
As observed on the daily chart, Gold price closed Wednesday below the 100-day Simple Moving Average (SMA) at $1,993, opening the floor for further downside.
The 14-day Relative Strength Index (RSI) is attempting a recovery but remains well below the midline, suggesting that any rebound in Gold price could likely be temporary.
Meanwhile, the 21-day and 50-day SMAs Bear Cross, confirmed last week, also remains in play, supporting Gold sellers.
Against these bearish technical indicators, any corrective upside in Gold price is expected to be a ‘sell the bounce’ trade’ in the near term.
Key support levels are now seen at the December 13 low of $1,973 and the horizontal 200-day SMA at $1,966. A sustained move below the latter will put the $1,950 psychological level at risk.
Gold sell now 1995
Confirm Target 1970
The 14-day Relative Strength Index (RSI) is attempting a recovery but remains well below the midline, suggesting that any rebound in Gold price could likely be temporary.
Meanwhile, the 21-day and 50-day SMAs Bear Cross, confirmed last week, also remains in play, supporting Gold sellers.
Against these bearish technical indicators, any corrective upside in Gold price is expected to be a ‘sell the bounce’ trade’ in the near term.
Key support levels are now seen at the December 13 low of $1,973 and the horizontal 200-day SMA at $1,966. A sustained move below the latter will put the $1,950 psychological level at risk.
Gold sell now 1995
Confirm Target 1970
t.me/Xauusdgold17
Daily 3,4 Vip Singals
97% Accurate
t.me/Xauusdgold17
Join Us For Any Help
We Are Always Ready To Help You
Daily 3,4 Vip Singals
97% Accurate
t.me/Xauusdgold17
Join Us For Any Help
We Are Always Ready To Help You
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.