XAU / USD Technical Analysis - Uniglobe Markets

XAU / USD Technical Analysis

Posted on October 11, 2018 at 06:03 AM

The price of gold continues to decline and now settles at 1195.00, and stability below this level is considered a loot. But at the same time, we will need to see a break of 1185.00 to prove the negative extension

Moving averages give supportive signals for a potential downside. But at the same time, we confirm that negativity requires a break of 1185.00. From the top, trading back above 1200.00 will be a negative sign.

Support: 1185.00

Resistance: 1200.00

Price Trend: Down with a break of 1195.00 with a target of 1185.00 provided it does not breach 1200.00

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