Orion-Markets

Gold (XAU) Long Idea

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Gold finished the year around $1835 area after a decent rally from the $1770 area. After retesting this high there has been a sell-off of 1.81% down to the low $1800 region. As there has been some support formed above $1800 which is a key level, a continuation of this uptrend is likely. The 4hr RSI levels are also in oversold levels too, 17.28, meaning that the price could rise from this point. The target for this long trade is at the $1817 level, the stop-loss is located near the $1785 zone.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.