XAU/USD, D1

On the daily chart, the instrument falls along the lower border of Bollinger bands, the price range is widened, reflecting the maintenance of downward dynamics. MACD histogram is in the negative area, keeping a confident signal for the opening of short positions. Stochastic crossed the oversold area downwards, the oscillator lines are directed downwards.

XAU/USD, H4

On the 4-hour chart, the downward movement is in the correction, the instrument is traded near the lower border of the Bollinger band. MACD histogram is in the negative area, the signal line crosses the histogram body downwards, forming a sell signal. Stochastic is in the neutral zone, the oscillator lines are directed downwards.

Key Levels

Resistance levels: 1229.35, 1232.50, 1237.70, 1243.50.

Support levels: 1222.70, 1215.00, 1195.00.

Trading tips

Short positions can be opened from the current level with the target at 1200.00 and stop loss 1232.50.

Long positions can be opened from the level of 1250.00 with the target at 1272.70. Stop loss is 1243.50.

Implementation period: 1–3 days.

Spot Gold

BuySellSpread
1227.021226.282

Scenario

TimeframeDay's Range
RecommendationsSELL
Entry Point1221.31
Take Profit1200.00
Stop Loss1232.50
Support levels1195.00, 1215.00, 1222.70, 1229.35, 1232.50, 1237.70, 1243.50

Alternative scenario

RecommendationsBUY STOP
Entry Point1250.00
Take Profit1272.70
Stop Loss1243.50
Support levels1195.00, 1215.00, 1222.70, 1229.35, 1232.50, 1237.70, 1243.50
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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