Key Resistance Levels: $1,900, $1,950, $2000
Key Support Levels: $1,750, $1, 700, $1,650
Gold (XAUUSD) Long-term Trend: Bullish
Gold is currently trading in the bullish trend zone as it challenges the $1,810 high. The price of Gold is erratic between the moving average lines but is locked at the 50-day SMA. The moving average lines must be crossed for Gold to trend. For instance, if buyers move past the 50-day SMA line, the market will reach a high of $1,850. At the $1,810 high, the upward movement is currently encountering opposition. If purchasers can’t get through it, XAUUSD will keep fluctuating.
Weekly Chart Indicators Reading:
Gold is at level 56 on the Relative Strength Index for period 14. In a positive area, XAUUSD may continue to advance. The fact that Gold is now restricted to the moving average lines suggests that XAUUSD will move in a range. Above level 70, the market has entered the overbought zone. As long as the price bars are above the moving average lines, the price will move upward.
Gold (XAUUSD) Medium-term bias: Bullish
On the Daily chart, Gold is in an upward trend as it approaches the $1,810 resistance level. A retraced candle body on the upswing of November 16 tested the 78.6% Fibonacci retracement line. The retracement predicts that Gold would increase but turn around the Fibonacci extension’s level of 1.272, or $1,827.14.
Daily Chart Indicators Reading
Gold is above the daily Stochastic threshold of 70 as it challenges the $1,810 high. The market is now moving upward and could keep doing so. The fact that the price bars are higher than the moving average lines indicates that Gold prices will climb in the future.
General Outlook for Gold (XAUUSD)
The Gold market has shifted to an overbought region. Further price gains are unlikely as the market approaches overbought territory. Bullish exhaustion has been reached in the current rally.
You can purchase crypto coins here. Buy LBLOCK
Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.