Technical Analyses: GOLD reached the target at 1695.00

Technical Analyses: GOLD reached the target at 1695.00

According to the previous article we wrote, support level $1695.00 has been seen as the target level for bearish traders. All bearish positions taken below the Point of Control level at $1812.00, was seen as long-term bearish opportunity, targeting a strong support level of $1695.00 that was seen as a great taking profit area. The…

Technical Analysis: Gold still falling

Technical Analysis: Gold still falling

GOLD scored modest gains yesterday. What makes this story more complicated, it is a gold price position that is sitting within the strong previous support zone, that becomes a newly found resistance level, and it isn’t breaking down. You can check these levels in our previous Gold updated statement, anyway, the most important level at…

Technical analyses: Gold did what was expected

Technical analyses: Gold did what was expected

Sell-off in Gold(XAUUSD) was expected when we take into consideration the technical overview and technical tools setup. Late Tuesday and Wednesday, traders drove the price towards the previous support level at 1785.00, which was retested and quickly bounced back just to relax bearish force for some time. According to the chart, the significant consistency of…

Technical Analyses: XAU/USD ready for one more sell-off

Technical Analyses: XAU/USD ready for one more sell-off

XAU/USD continues to trade within the broader downtrend. Sell-off is still widely accepted through the traders’ environment. The decline reached the first support level 1759.00, and the first reaction was significant to watch. Bulls took the price and drove GOLD up to 1812.00 to retest major resistance. Many important moves were made for Gold making…