Gold – XAU/USD Long-Term Trend: Bullish
Key Resistance Levels: 1885.35, 1892.65, 1897.50
Key Support Levels: 1873.20, 1868.35, 1861.05
Gold is trading at 1,877 level, and it has closed a Doji pattern followed by a sharp bullish trend. This demonstrates that buyers are exhausted, and now sellers are likely to take the lead. On the lower side, the pair may find support at 1,872 and 1,870. The leading indicators like RSI and MACD are supporting a selling bias in gold.
Gold – XAU/USD Medium-Term Trend: Bearish
On the hourly timeframe, gold has violated upward trendline support around 1,880, and below this, the precious metal may face intense selling pressure. Gold is likely to drop until 1,870 targets.
Sell Order @ 1,876.78
TP 1 @ 1,872
TP 2 @ 1,870
Stop Loss @ 1,881
Trade Safely 🙂