From a technical perspective, the overnight breakout through the $3,324-3,326 hurdle and a subsequent strength beyond the $3,355 area was seen as a key trigger for the XAU/USD bulls. Moreover, oscillators on daily/hourly charts are holding comfortably in positive territory and suggest that the path of least resistance for the Gold price is to the upside. Hence, any subsequent slide below the $3,355 area could be seen as a buying opportunity and remain limited near the $3,326-3,324 resistance-turned-support. Some follow-through selling, however, could make the commodity vulnerable to weakening further below the $3,300 mark and testing the $3,286-3,285 horizontal support.
Xauusd sell 3356
Support 3342
Support 3330
Support 3330
Xauusd sell 3356
Support 3342
Support 3330
Support 3330
Trade active
Xauusd 1 support hit 140 pips done Trade closed: target reached
Xauusd sell 190 pips running Note
Xauusd sell 220 pips running Note
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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.