Following a bullish opening to the week, Gold went into a consolidation phase and retreated below $2,350 on Monday. Rising US Treasury bond yields and expectations of Israel avoiding a further escalation of the conflict with Iran weighs on XAU/USD
.
As observed on the four-hour chart, Gold price is defending the 21-Simple Moving Average (SMA) at $2,356, at the moment.
Initial topside target is seen the intraday highs of $2,373, above which the $2,400 round figure will be tested again.
Gold now buy 2356
Target 2360
Target 2364
Target 2370
Target 2400
SL 2340
.
As observed on the four-hour chart, Gold price is defending the 21-Simple Moving Average (SMA) at $2,356, at the moment.
Initial topside target is seen the intraday highs of $2,373, above which the $2,400 round figure will be tested again.
Gold now buy 2356
Target 2360
Target 2364
Target 2370
Target 2400
SL 2340
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My Channel Link
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Check My Performance
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.