$XAU Daily Gold Trading: 4,470 on the horizon
For us, the pivot point is at 4,359.
Preferred scenario: An upward move is likely as long as 4,359 holds as support, with 4,470 and 4,501 as targets
Alternative scenario: Below 4,359, expect 4,307 and 4,276.
Comment: The Relative Strength Index (RSI) (momentum indicator) is above 50. The MACD (trend divergence indicator) is above its signal line and is positive. In addition, the current price is above its 20- and 50-day moving averages (located at 4,382 and 4,384 respectively).
Support and resistance levels:
4,563 **
4,532 *
4,501 **
4,470
4,401 last
4,379
4,359 **
4,307 *
4,276 **
#GOLD #TradingSignals #USDT #BTC
For us, the pivot point is at 4,359.
Preferred scenario: An upward move is likely as long as 4,359 holds as support, with 4,470 and 4,501 as targets
Alternative scenario: Below 4,359, expect 4,307 and 4,276.
Comment: The Relative Strength Index (RSI) (momentum indicator) is above 50. The MACD (trend divergence indicator) is above its signal line and is positive. In addition, the current price is above its 20- and 50-day moving averages (located at 4,382 and 4,384 respectively).
Support and resistance levels:
4,563 **
4,532 *
4,501 **
4,470
4,401 last
4,379
4,359 **
4,307 *
4,276 **
#GOLD #TradingSignals #USDT #BTC
