REDATOR Ben Graham Posted 5 hours ago REDATOR Report Share Posted 5 hours ago Gold is trading around $5,158, undergoing a technical correction after reaching $5,220 during the European session, showing a positive bias, although signs of exhaustion in the bullish momentum are evident.Yesterday, during the American session, XAU/USD made a sharp technical correction from $5,260 to $5,080. From that level, which coincided with the 21 SMA, gold made a technical rebound and is now likely to resume its bearish cycle.If gold falls below $5,143 in the coming hours, we could expect the downward movement to continue, and it could reach the psychological level of $5,000, which also coincides with the lower band of the upward trend channel.If there is a break above today's high reached during the European session around $5,220, we could expect gold to continue rising. The instrument could reach +1/8 Murray around $5,312 and even touch the upper band of the uptrend channel around $5,400.The Eagle indicator is showing a positive signal, and any pullback in gold around $5,140 or towards the psychological level of $5,000 will be seen as an opportunity to open long positions.The material has been provided by InstaForex Company - www.instaforex.com Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Liked! × 💬 Did you like this content? Your feedback is very important! Liked! Perfect! Thanks! Love it! Haha Confused :/ Oush! Wow! Quote Link to comment Share on other sites More sharing options...
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