Ixabiso leGolide: Ukujongwa komngcipheko kwi-Mood Ukulinganisa kumaxabiso eXAUUSD kwinqanaba le- $ 1,700 kwiBhidi yokuHlala

UAzeez Mustapha

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Uhlalutyo lwamaxabiso eXAUUSD-Epreli 29

During the late European session, Gold edged down into the American session and refreshed daily lows as overriding risk-on mood weighs on XAUUSD, but managed to stay just above the round-figure mark of $1,703.00. This emerges amid a significant upturn in crude oil prices, which rather bolstered the optimism of investors and smashed the inherent safe-haven status of the precious metal.

Amanqanaba aphambili
Amanqanaba okumelana nawo: $ 1,780, $ 1,765, $ 1,747
Amanqanaba enkxaso: $ 1,690, $ 1,663, $ 1,623

I-XAUUSD yexesha elide iTrend: Bullish

Gold has largely kept moving horizontally since the beginning of April. This is trading beyond nearby highs in February-March. But, this looks like a medium to long term uptrend consolidation. Though if the price hits beneath the level of $1,703.00, we may see more pressure to sell.

An upswing may return as soon as the pair soars beyond the resistance level of $1,719.25, preceded by rising to the resistance level of $1,738.87, and if it skyrockets beyond that level, we may predict the pair to hit the resistance level of $1,747.72.

I-XAUUSD yeXesha elifutshane eliQhelekileyo: Bullish

XAUUSD consolidates the progress which began in mid-March as the metal holds beyond the ascending trendline on the four-hour chart. XAUUSD retains a solid bullish momentum as buyers are now searching for a break beyond the level of $1747.00 on a daily exit grounds that may open the doors towards the resistance level of $1,780.

Alternatively, support may appear for the short term near to $1,690 price level, and further below rests the level of $1,663. In the first quarter of this year, freshly issued US GDP came in at 4.8 percent worse than anticipated.

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UAzeez Mustapha

U-Azeez Mustapha yingcali kwezorhwebo, umhlalutyi wemali, umhleli weempawu, kunye nomphathi wezezimali ngaphezulu kweminyaka elishumi yamava kwicandelo lezemali. Njengombhali webhlog kunye nombhali wezemali, unceda abatyali mali baqonde iikhonsepthi ezintsonkothileyo zemali, ukuphucula izakhono zabo zotyalo-mali, kunye nokufunda ukulawula imali yabo.

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