🔸The daily technical setup for Gold prices suggests that a recovery could be imminent before the new downtrend resumes. The 14-day Relative Strength Index (RSI) indicator is deep in oversold territory, warranting caution for Gold sellers.
🔸Failure to find acceptance above the $1,850 barrier could consolidate selling interest around Gold prices. Immediate support is now seen at $1,810, where the March 8 low is located.
🔸The $1,800 threshold will be the level to beat for Gold sellers.
🔷I am considering buying
XAUUSD
around the price range of 1813$ - 1810$.
🔷If the candlestick goes stronger than expected, you can set up a Buy at the price range of 1807$ - 1805$
🍭Love your money by being cautious when trading
🔸Failure to find acceptance above the $1,850 barrier could consolidate selling interest around Gold prices. Immediate support is now seen at $1,810, where the March 8 low is located.
🔸The $1,800 threshold will be the level to beat for Gold sellers.
🔷I am considering buying
XAUUSD
around the price range of 1813$ - 1810$. 🔷If the candlestick goes stronger than expected, you can set up a Buy at the price range of 1807$ - 1805$
🍭Love your money by being cautious when trading
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🔸Regarding the possibility of a correction, gold needs to meet at least two conditions, either moving above the $1,825 level and then forming a supporting reversal candlestick pattern.
🔸Either gold falls to the key technical level of $1,805 and there are expectations of a correction here but the upside correction will be defeated if the $1,800 price level continues to break below.
🔸Either gold falls to the key technical level of $1,805 and there are expectations of a correction here but the upside correction will be defeated if the $1,800 price level continues to break below.
