TECHNICAL ANALYSIS OF XAUUSD (GOLD)24 FEB 2023
XAUUSD (GOLD) is sideways to down trend from last forth days near to its support level of $1820 . technical indicators hold within negative levels, the Momentum posting a modest advance, but the Relative Strength Index (RSI) maintaining its downward slope near oversold readings. The daily chart shows that the pair keeps sliding below a firmly bearish 20 SMA, while the 100 SMA has lost its bullish strength, currently at around $1,789.15.If it gibe closing below this mark then it can drag down towards next support zone of $1810 and $1800.On higher side $1850 is still psychological resistance mark above this we can expect up side movement towards next resistance mark of $1870. So trade can take position after proper break out in either side.