XAU/USD, D1

On the daily chart, the instrument is trading near the lower border of Bollinger Bands. The key support level is 1313.28, the breakout of which can give a strong sell signal. The indicator was corrected downwards, while the price range is widened, which reflects the development of the downward trend. MACD is in the positive zone, its volumes are decreasing. Stochastic is in correction near the border of the oversold area, the signatory signal is not formed.

XAU/USD, H4

On the 4-hour chart, the instrument is trading in the lower part of Bollinger Bands. The indicator is pointed downwards, as the price range insignificantly narrowed, the strong sell signal is still relevant. MACD histogram is in the negative zone, keeping the strong signal to open short positions. Stochastic has reversed downwards near the border of the overbought area.

Key levels

Support levels: 1288.92, 1296.42, 1303.93, 1313.28.

Resistance levels: 1322.88, 1330.95, 1341.08, 1350.46, 1361.53.

Trading tips

Short positions can be opened below the level 1313.28 with the targets at 1303.00, 1296.00 and stop loss 1319.50. Implementation period: 1–2 days.

Long positions can be opened from the level 1324.00 with the target at 1340.50 and stop loss 1316.00. Implementation period: 1–2 days.

Spot Gold

BuySellSpread
1313.851313.0481

Scenario

TimeframeDay's Range
RecommendationsSELL STOP
Entry Point1313.25
Take Profit1303.00, 1296.00
Stop Loss1319.50
Support levels1361.53, 1350.46, 1341.08, 1330.95, 1322.88, 1288.92, 1296.42, 1303.93, 1313.28

Alternative scenario

RecommendationsBUY STOP
Entry Point1324.00
Take Profit1340.50
Stop Loss1316.00
Support levels1361.53, 1350.46, 1341.08, 1330.95, 1322.88, 1288.92, 1296.42, 1303.93, 1313.28
XAU/USD: technical analysis

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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