One of our readers asked about Gold (XAUUSD), how is the chart looking now? What is it saying?
For Gold Spot (XAUUSD), the chart is starting to look bearish after a lower high and a candle close below EMA10 (green line).
We have the MACD, pictured below, printing a bearish cross.
We also spotted bearish divergence with the RSI.
We have the RSI closing lower while XAUUSD was closing higher:
Our first target if prices continue to drop will be $1644.84 or EMA50.
If this level breaks, prices can go even lower and hit ~$1550... This is not financial advice.
Thanks a lot for reading.
Namaste.
For Gold Spot (XAUUSD), the chart is starting to look bearish after a lower high and a candle close below EMA10 (green line).
We have the MACD, pictured below, printing a bearish cross.
We also spotted bearish divergence with the RSI.
We have the RSI closing lower while XAUUSD was closing higher:
Our first target if prices continue to drop will be $1644.84 or EMA50.
If this level breaks, prices can go even lower and hit ~$1550... This is not financial advice.
Thanks a lot for reading.
Namaste.
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🚨 The difference between poor weak signals & PREMIUM trade-numbers lies in results. Stand apart from the crowd. #1 Since 2017. Join now 👉 t.me/lamatrades/4
🎯 LIFETIME Results: t.me/anandatrades/1183
(Click & Claim Your FREE Pizza! 🍕)
🎯 LIFETIME Results: t.me/anandatrades/1183
(Click & Claim Your FREE Pizza! 🍕)
Related publications
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.