As per XAU/USD, the pair retreated sharply after reaching the aforementioned high amid profit taking, with buyers finally returning at around $3,050. From a technical point of view, Gold has a limited bearish scope, according to technical readings in the daily chart. The intraday slide stalled far above a bullish 20 Simple Moving Average (SMA), currently at around $3,022. The 100 and 200 SMAs, in the meantime, maintain their sharp upward slopes far below the shorter one. Finally, technical indicators ease from extreme readings, yet remain far above their midlines, not enough to confirm a top in place.
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Gold signal
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