GOLD UPDATE
Hello, Traders! Gold is attempting a recovery after dropping to $1730 support zone yesterday. XAUUUSD climbed above $1740 comfortably amid weakness in the DXY. The declining 200-period Simple Moving Average is found at $1787 and adds to the downside filters. The ongoing recovery can be stopped at $1750 to $1780 followed by a sell-off. Gold is oversold but the selling pressure is still there and still targets $1722.
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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.