$XAU Gold daily trading: towards 4,240
For us, the pivot point is at 4,151.
Preferred scenario: Upside is favored as long as 4,151 holds as support, with 4,240 and 4,264 as targets.
Alternative scenario: Below 4,151, expect 4,112 and 4,088.
Comment: The RSI (momentum indicator) is rising into overbought territory (>70). The MACD (trend divergence indicator) is above its signal line and positive. Furthermore, the current price is above its 20- and 50-day moving averages (at 4,174 and 4,145, respectively).
Support and resistance levels:
4,311 **
4,287 *
4,264 **
4,240
4,199 Last
4,167
4,151 **
4,112 *
4,088 **
#gold #USDT #bnb #Write2Earn
For us, the pivot point is at 4,151.
Preferred scenario: Upside is favored as long as 4,151 holds as support, with 4,240 and 4,264 as targets.
Alternative scenario: Below 4,151, expect 4,112 and 4,088.
Comment: The RSI (momentum indicator) is rising into overbought territory (>70). The MACD (trend divergence indicator) is above its signal line and positive. Furthermore, the current price is above its 20- and 50-day moving averages (at 4,174 and 4,145, respectively).
Support and resistance levels:
4,311 **
4,287 *
4,264 **
4,240
4,199 Last
4,167
4,151 **
4,112 *
4,088 **
#gold #USDT #bnb #Write2Earn