- Analytics
- Market analysis
- Technical Analysis
- Gold remains above MA 200 H1
Gold remains above MA 200 H1
On Friday, the XAU/USD traded mixed in the range of 2391-2418 and closed the day without significant changes. Today, gold also traded in a narrow range of 2404-2412, remaining close to Friday's closing price. On the hourly chart, XAU/USD is still trading above the moving average line MA (200) H1 (2371). The situation is similar on the four-hour chart. Based on the above, it is probably worth sticking to the northern direction in trading and while gold remains above MA 200 H1, may be need to look for entry points to buy when a correction is formed.
- Resistances levels are at: 2424, 2433-37, 2449
- Support levels are at: 2391, 2377, 2369
Probably, the main scenario is the continuation of the upward movement to 2424 (Jul 11 high).
The alternative scenario is consolidation below MA 200 H1 with a subsequent decline to 2341 (the low of the American session on Jul 3).
© 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
