XAU/USD technical analysis: Gold price creeps lower
Gold rate is upwardly biased in spite of dropping a few steam as investors ee-e book profits, expecting the following section of the conflict. Momentum stays bullish as depicted via way of means of the Relative Strength Index (RSI) however is exiting from overbought conditions, sparking the retracement.
If XAU/USD drops below $2,650, this will open the door to check the September 30 every day low of $2,624, observed via way of means of the September 18 top at $2,600. A breach of the latter will reveal the 50-day Simple Moving Average (SMA) at $2,513.
On similarly strength, if it clears the all time excessive of $2,685, it can amplify its profits to $2,700.
💎
GOLD BUY 2645 - 2642💎
✔️TP1: 2660
✔️TP2: 2670
✔️TP3: OPEN
🚫SL: 2635
If XAU/USD drops below $2,650, this will open the door to check the September 30 every day low of $2,624, observed via way of means of the September 18 top at $2,600. A breach of the latter will reveal the 50-day Simple Moving Average (SMA) at $2,513.
On similarly strength, if it clears the all time excessive of $2,685, it can amplify its profits to $2,700.
💎
GOLD BUY 2645 - 2642💎✔️TP1: 2660
✔️TP2: 2670
✔️TP3: OPEN
🚫SL: 2635
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