GOLD Prediction 12 OCT
Updated
The XAU/USD pair's daily chart reveals that it remains close to the intraday peak, with the bulls still in control. However, the precious metal is trading below a bearish 20 Simple Moving Average (SMA), which is losing some of its bearish strength and acting as dynamic resistance around $1,880. While technical indicators continue to advance within negative levels, reflecting ongoing buying interest, they do not indicate a stronger bullish trend.
Looking at the short-term outlook, there is a slight bias towards upside risk for XAU/USD. The pair is currently struggling to overcome a mildly bearish 100 SMA, while the 20 SMA shows strong upward momentum well below the current level. At the same time, technical indicators remain in positive territory but lack clear directional strength. Additionally, there is a bearish divergence observed in the Momentum indicator as it stabilizes significantly below its recent high.
The key support levels for XAU/USD are identified at 1,865.35 followed by 1,853.00 and 1,,84410 Meanwhile,the resistance levels are positioned at 1,,87990 followed by ,89140 and ,90470
Looking at the short-term outlook, there is a slight bias towards upside risk for XAU/USD. The pair is currently struggling to overcome a mildly bearish 100 SMA, while the 20 SMA shows strong upward momentum well below the current level. At the same time, technical indicators remain in positive territory but lack clear directional strength. Additionally, there is a bearish divergence observed in the Momentum indicator as it stabilizes significantly below its recent high.
The key support levels for XAU/USD are identified at 1,865.35 followed by 1,853.00 and 1,,84410 Meanwhile,the resistance levels are positioned at 1,,87990 followed by ,89140 and ,90470
Note
🕯 SELL GOLD | 1886 - 1883🔴 SL: 1891
🟢 TP1: 1878
🟢 TP2: 1873
Trade active
Runings + 95pips. Heading to TP2 ✔️✔️✔️Trade closed: target reached
Close Full Hit TP2 + 120pips 😮 ✅✅✅Note
🟠The US Energy Information Administration said on Thursday that crude oil inventories in the United States rose last week, while gasoline and distillate inventories fell.Note
Newspaper: The president of PricewaterhouseCoopers in America leaves his position after pressure.
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