- Analytics
- Market analysis
- Technical Analysis
- Gold remains above MA 200 H1
Gold remains above MA 200 H1
On Friday, the XAU/USD traded higher and closed the day in the positive territory near the price of 2656. Today, gold traded in a narrow range of 2642-2657, remaining near the closing price of Friday. On the hourly chart, XAU/USD is still trading above the moving average line MA (200) H1 (2641). On the four-hour chart, the situation is similar. Based on the above, it is probably worth sticking to the northern direction in trading and while gold remains above MA 200 H1, it may be necessary to look for entry points to buy for the formation of a correction.
- Resistance levels are at: 2661, 2670-73, 2685
- Support levels are at: 2635, 2616, 2602-04
Probably, the main scenario is a continuation of the upward movement to 2661 (Oct 11 high).
The alternative scenario is consolidation below MA 200 H1 followed by a fall to 2605 (Oct 10 low).
© 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
