$XAU
XAU/USD trades at $4,612, after rejection at the $4.700 area earlier in the week, although the near-term bias remains bullish while above the 200-day Simple Moving Average (SMA). Momentum indicators in the daily chart are well within positive territory, with the Relative Strength Index (14) down to 66, after reaching overbought levels, and the Moving Average Convergence Divergence (MACD) indicator retreating but still above zero, hinting at a moderating bullish momentum rather than a bearish reversal.
Immediate support emerges at Wednesday's low of $4,583, ahead of the aforementioned 200-day SMA, a very popular indicator for FX traders, which now lies at $4,525. A confirmation below here would give fresh hopes for bears, and would expose the August 20 low near $4,450 and the August 14 low, near $4,310.
#gold320 #XAU320 #Trendingissue #mr320 #WriteToEarn2026
XAU/USD trades at $4,612, after rejection at the $4.700 area earlier in the week, although the near-term bias remains bullish while above the 200-day Simple Moving Average (SMA). Momentum indicators in the daily chart are well within positive territory, with the Relative Strength Index (14) down to 66, after reaching overbought levels, and the Moving Average Convergence Divergence (MACD) indicator retreating but still above zero, hinting at a moderating bullish momentum rather than a bearish reversal.
Immediate support emerges at Wednesday's low of $4,583, ahead of the aforementioned 200-day SMA, a very popular indicator for FX traders, which now lies at $4,525. A confirmation below here would give fresh hopes for bears, and would expose the August 20 low near $4,450 and the August 14 low, near $4,310.
#gold320 #XAU320 #Trendingissue #mr320 #WriteToEarn2026
