XAU/USD trimmed Friday’s gains, and the daily chart supports a continued decline. The pair develops below a mildly bearish 20 Simple Moving Average (SMA), while the longer moving averages lack directional strength well below the current level. Technical indicators, in the meantime, resumed their declines within negative levels, although their strength is limited.
The 4-hour chart for XAU/USD offers a neutral stance. The pair briefly pierced a flat 20 SMA but quickly recovered above it, suggesting unconvinced sellers. The longer moving averages head marginally lower above the current level, limiting advances. Finally, technical indicators head nowhere around their midlines, failing to provide clear directional clues.
Support levels: 2,016.40 2,001.60 1,988.60
Resistance levels: 2,033.10 2,047.20 2,056.80
Gold sell Now 2029
Confirm Target 2010
The 4-hour chart for XAU/USD offers a neutral stance. The pair briefly pierced a flat 20 SMA but quickly recovered above it, suggesting unconvinced sellers. The longer moving averages head marginally lower above the current level, limiting advances. Finally, technical indicators head nowhere around their midlines, failing to provide clear directional clues.
Support levels: 2,016.40 2,001.60 1,988.60
Resistance levels: 2,033.10 2,047.20 2,056.80
Gold sell Now 2029
Confirm Target 2010