XAU/USD, D1

On D1 chart, the instrument consolidated above the sliding midline of Bollinger Bands. The important resistance level is 1200.00. The indicator turns sideways, and the price range remains wide, which indicates a correction. MACD histogram is in the negative zone with its volumes growing, the weak sell signal is still relevant. Stochastic does not give a clear signal for entering the market.

XAU/USD, H4

On H4 chart, the instrument is testing a strong psychological level of 1.1200. Bollinger Bands are directed horizontally, and the price range remains unchanged, which indicates a continuation of the corrective dynamics. MACD histogram is near the zero line, the signal for opening positions is not formed. Stochastic is corrected in the neutral zone.

Key levels

Support levels: 1159.62, 1169.64, 1179.65, 1189.27, 1197.70.

Resistance levels: 1200.00, 1206.97, 1214.34, 1220.70, 1227.30, 1234.88.

Trading tips

Short positions may be opened below the level of 1194.00 with the target at 1186.00 and stop loss at 1198.00. Implementation time: 1-2 days.

Long position may be opened above the level of 1204.00 with the target at 1214.00 and stop loss at 1201.00. Implementation time: 1-2 days.

Spot Gold

BuySellSpread
1204.11203.560

Scenario

TimeframeDay's Range
RecommendationsSELL STOP
Entry Point1193.90
Take Profit1186.00
Stop Loss1198.00
Support levels1159.62, 1169.64, 1179.65, 1189.27, 1197.70, 1200.00, 1206.97, 1214.34, 1220.70, 1227.30, 1234.88

Alternative scenario

RecommendationsBUY STOP
Entry Point1204.10
Take Profit1214.00
Stop Loss1201.00
Support levels1159.62, 1169.64, 1179.65, 1189.27, 1197.70, 1200.00, 1206.97, 1214.34, 1220.70, 1227.30, 1234.88
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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