XAU/USD, D1

On the daily chart, the instrument grows towards the upper border of Bollinger bands, and the price range is widened, which reflects a possibility of further upward movement development. MACD histogram is in the positive area, the signal line crosses the zero line and the body of the histogram upwards, forming a signal to open long positions. Stochastic is in the neutral zone, the signal line of the oscillator is directed downwards.

XAU/USD, H4

On the 4-hour chart, the instrument broke through the upper border of Bollinger bands, and the price is now growing. MACD histogram is in the positive area, its volumes are minimal, the indicator signal line moves horizontally. Stochastic is in the neutral zone, the lines of the oscillator are directed upwards.

Key levels

Resistance levels: 1235.54, 1245.43, 1257.05, 1267.00.

The levels of support: 1228.52, 1222.71, 1217.95, 1214.00, 1207.60, 1205.05, 1198.69, 1192.75, 1182.79.

Trading tips

In the short term, long positions can be opened from the current level with the target at 1245.00 and stop loss 1230.00.

Short positions can be opened from the level of 1214.00 with the target at 1207.50. Stop loss is 1218.00.

Implementation period: 1–3 days.

Spot Gold

BuySellSpread
1217.611217.0259

Scenario

TimeframeDay's Range
RecommendationsBUY
Entry Point1236.01
Take Profit1245.00
Stop Loss1230.00
Support levels1182.79, 1192.75, 1198.69, 1205.05, 1207.60, 1214.00, 1217.95, 1222.71, 1228.52, 1235.54, 1245.43, 1257.05, 1267.00

Alternative scenario

RecommendationsSELL STOP
Entry Point1214.00
Take Profit1207.50
Stop Loss1218.00
Support levels1182.79, 1192.75, 1198.69, 1205.05, 1207.60, 1214.00, 1217.95, 1222.71, 1228.52, 1235.54, 1245.43, 1257.05, 1267.00
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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