TECHNICAL ANALYSIS OF XAUUSD (GOLD)28 FEB 2023
Feb 28, 2023 Uncategorized by Henry
XAUUSD (GOLD) trading in negative tertiary and trading near to its support level of $1810 if it break and sustain this mark then we can see next level of $1800 in near term , On opposite side it has major resistance of $1820 above this mark we can expect some bounce back from here. However, with the bearish 14-day Relative Strength Index (RSI) and the 21 and 50-Daily Moving Averages (DMA) bearish crossover still in play, any rebound in the Gold price is likely to be sold off at higher levels. Additional declines will challenge the bullish 100 DMA at $1,795. The last line of defense for Gold buyers is seen at the falling trend line (wedge) support, now at $1,789.