- Analytics
- News and Tools
- Market News
- Gold Price Forecast: XAU/USD to see a test of $1,835 as technicals remain favorable
Gold Price Forecast: XAU/USD to see a test of $1,835 as technicals remain favorable
Gold price is sitting at the highest levels in nine days near the $1,830 barrier on Wednesday. As FXStreet’s Dhwani Mehta notes, XAU/USD has more room to rise.
Strong support seen around $1,817
“Gold is in an upside consolidative mode, prepping up for a fresh leg up once the $1,830 round level is cleared. The next bullish target is seen at the horizontal trendline resistance at $1,835. Further up, bulls will challenge a powerful hurdle of around $1,848.
“$1,820 could limit any retracement, below which strong support around $1,817 will test the bullish commitments. The latter is the confluence of the horizontal 100-SMA and upward-pointing 21-SMA. Sellers will then target the horizontal 200-SMA support at $1,814.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
