Technical analyst
18 Jul
18Jul


The daily gold (XAU/USD) chart is showing a bullish bounce after building on strong support near the 2,320 area, and is currently approaching strong technical resistance at the 2,370 level.

  • Short-term trend: Neutral to bullish.
  • The 50-day moving average supports the price and acts as a positive dynamic level.
  • Bullish scenario: A break above 2,370 will open the way for an upward move towards 2,390 and 2,410.
  • Bearish scenario: A failed breakout with a retest of 2,320 could lead to a decline towards 2,300 and possibly lower.
  • The RSI indicator shows the beginning of positive momentum but without final confirmation.

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