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- Gold continued yesterday's growth
Gold continued yesterday's growth
Yesterday, the XAU/USD traded higher and closed the day in the positive territory near the price of 3034. Today, gold also rose slightly, rising to the 3038 mark. On the hourly chart, XAU/USD is still trading above the moving average line MA (200) H1 (2951). 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, it may be necessary to look for entry points to buy for the formation of a correction.
- Resistance levels are at: 3038, 3100, 3200
- Support levels are at: 3018, 3006, 2982-84
Probably, the main scenario is continued growth to 3038 (session high).
An alternative scenario involves consolidation below MA 200 H1 with a subsequent decline to 2880 (Mar 11 low).
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