XAU/USD at a critical juncture, awaits US inflation for next big move. Gold extends the rebound to test the critical resistance level at 1789 - 1792.
=> The Golden cross is playing out for gold price but acceptance above $1792 is key - the confluence of the 100 and 200-Daily Moving Averages (DMA). Next target 1800 and 1810-1815.
=> On the flip side, immediate support is seen at the previous day’s low of $1772. And $1766 could then come to the rescue of gold bulls. The crucial support is seen at the horizontal trendline at $1,760 will be the line in the sand for gold optimists.
=> The Golden cross is playing out for gold price but acceptance above $1792 is key - the confluence of the 100 and 200-Daily Moving Averages (DMA). Next target 1800 and 1810-1815.
=> On the flip side, immediate support is seen at the previous day’s low of $1772. And $1766 could then come to the rescue of gold bulls. The crucial support is seen at the horizontal trendline at $1,760 will be the line in the sand for gold optimists.
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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.