HomeContributorsTechnical AnalysisXAUUSD Is Possibly Bearish

XAUUSD Is Possibly Bearish

Technical analysis

The RSI is above level 50 and headed downwards.

The Stochastics left the overbought zone and headed downwards to level 50.

Most likely scenario – SELL

Target prices: 1,802.98 1,798.53

Alternative scenario – BUY

Target prices: 1,809.04 1,811.71

Key levels

Support 1,802.98 1,798.53

Resistance 1,809.04 1,811.71

These trading ideas can only be applied to the intraday trading strategy and remain valid for 24 hours after publication. They are based on historical data and analysis and do not guarantee constant profit. You remain solely responsible for your decisions and the financial risks you take. In case your pending order is not executed within a single trading day, please, do not forget to cancel it.

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