$XAU #GOLD Daily Gold Trading: Find 4,395 For us, the pivot point is at 4,503.
Preferred Scenario: A drop is more likely as long as 4,503 is resistance, with 4,395 and 4,365 as targets.
Alternative Scenario: Above 4,503, look for 4,553 and 4,583.
Comment: The RSI Relative Strength Index (momentum indicator) is below. The MACD (trend deviation indicator) is above its signal line, but it is bearish. In addition, the current price is below its 20- and 50-day moving averages (at 4,439 and 4,501 respectively). Furthermore, the current price is between its 20- and 50-day moving averages (at 4,439 and 4,501 respectively).
Support and Resistance Levels: 4,583 ** 4,553 * 4,503 ** 4,483 4,436 last 4,395 4,365 ** 4,335 * 4,305 **
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