Gold Long Confirm Analysis
XAU/USD regains the upside traction and approaches the $2,400 mark, showing some near-term consolidation for the time being. Technical indicators retreat from extreme overbought levels, suggesting that some decline may lie ahead in the short term. Still, a steeper slide remains out of the picture, as XAU/USD refuses to give up while developing its moving averages above all. On this, the 55-day SMA hovers around $2,150 while the 100-day SMA tests the $2,100 zone.
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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.