XAUUSD The main trend today is still down

22 thg 8, 2023

XAUUSD The price started the day by breaking above the downtrend line resistance at $1,904 as it attempted to recover. For gold buyers to maintain momentum from multi-month lows, they need a daily close above this level.

If this scenario comes to fruition, the next upside target would be $1,900. If that is achieved, there will be a significant resistance at the $1,908 round figure where the 200-day Moving Average (DMA) is sloping up.