From a technical perspective, the Relative Strength Index (RSI) on the daily chart has just started drifting in the oversold zone and helps limit the downside for the Gold price. The subdued range-bound price action, meanwhile, might still be categorized as a bearish consolidation phase and the lack of any buying interest suggests that the path of least resistance for the XAU/USD is to the downside. However, it will be prudent to wait for some near-term consolidation or a modest rebound before positioning for a further depreciating move. Nevertheless, the XAU/USD remains vulnerable to prolong its downward trajectory towards the next relevant support near the $1,860-1,858 region en route to the $1,820 level.
Gold Sell 1885
Target 1857
Sl 1889
Gold Sell 1885
Target 1857
Sl 1889
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90 pips running keep hold sellNote
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100% perfect targetNote
Gold SellNote
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110 pips running keep hold sellNote
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Gold SellNote
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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.