The daily chart shows that the 14-day Relative Strength Index (RSI) has re-entered the overbought region, currently near 71, warranting caution for buyers.
If they manage to sustain above the $3,275 level on a daily closing basis, a test of the $3,300 mark will be inevitable, opening the door toward the $3,350 psychological mark.
Conversely, the initial support aligns at the $3,200 threshold, below which the April 11 low of $3,176 will be challenged.
Additional declines could test the $3,100 round level, where the 21-day Simple Moving Average (SMA) resistance-turned-support closes in.
XAUUSD sell 3270
Support 3250
Support 3240
If they manage to sustain above the $3,275 level on a daily closing basis, a test of the $3,300 mark will be inevitable, opening the door toward the $3,350 psychological mark.
Conversely, the initial support aligns at the $3,200 threshold, below which the April 11 low of $3,176 will be challenged.
Additional declines could test the $3,100 round level, where the 21-day Simple Moving Average (SMA) resistance-turned-support closes in.
XAUUSD sell 3270
Support 3250
Support 3240
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.