- Analytics
- Market analysis
- Technical Analysis
- Gold tests MA 200 H1 resistance
Gold tests MA 200 H1 resistance
Yesterday, the XAU/USD traded mixed in the range of 1955-75 and closed the day without significant changes. Today, gold also traded in a narrow 1956-62 range, remaining close to yesterday's closing price. On the hourly chart, XAU/USD is testing the strength of resistance - the moving average line MA (200) H1 (1960). On the four-hour chart, gold still remains below the MA 200 H4 line. Based on the above, it is probably worth sticking to the southern direction in trading and while gold remains below MA 200 H1, it may be necessary to look for entry points to sell at the end of the correction.
- Resistances levels are at: 1975, 1989, 1995
- Support levels are at: 1955, 1944, 1931
Probably, the main scenario is the resumption of the downward movement towards $1955 (Nov 15 low).
The alternative scenario involves a breakout of the MA 200 H1 level followed by growth to $2003 (Nov 3 high).
© 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
