XAU/USD, D1
On the D1 chart, the instrument is declining along the bottom line of Bollinger Bands; the price range is widened, which indicates a possible continuation of the downtrend. MACD histogram is in the negative area and gradually increases its volumes. Stochastic is in the oversold zone and is moving horizontally.
XAU/USD, H4
On the H4 chart, there is a correction of the downtrend, the instrument is trading near the bottom line of Bollinger Bands, the price range is expanded. MACD histogram is in the negative zone keeping a signal for opening short positions. Stochastic is in the oversold zone and is directed horizontally.
Key levels
Support levels: 1237.70, 1231.30, 1222.70, 1215.50.
Resistance levels: 1242.90, 1246.50, 1249.70, 1256.30.
Trading tips
According to technical indicators, short positions could be opened from the current level with target at 1223.00 and stop-loss at 1248.00.
Long positions may be opened from the level of 1257.00 with target at 1270.00. Stop-loss is at 1248.00.
Implementation period: 1-3 days.
Spot Gold
Buy Sell Spread
1251.92 1251.3 62
Scenario
Timeframe Day's Range
Recommendations SELL
Entry Point 1242.83
Take Profit 1223.00
Stop Loss 1248.00
Support levels 1215.50, 1222.70, 1231.30, 1237.70, 1242.90, 1246.50, 1249.70, 1256.30
Alternative scenario
Recommendations BUY STOP
Entry Point 1257.00
Take Profit 1270.00
Stop Loss 1248.00
Support levels 1215.50, 1222.70, 1231.30, 1237.70, 1242.90, 1246.50, 1249.70, 1256.30
On the D1 chart, the instrument is declining along the bottom line of Bollinger Bands; the price range is widened, which indicates a possible continuation of the downtrend. MACD histogram is in the negative area and gradually increases its volumes. Stochastic is in the oversold zone and is moving horizontally.
XAU/USD, H4
On the H4 chart, there is a correction of the downtrend, the instrument is trading near the bottom line of Bollinger Bands, the price range is expanded. MACD histogram is in the negative zone keeping a signal for opening short positions. Stochastic is in the oversold zone and is directed horizontally.
Key levels
Support levels: 1237.70, 1231.30, 1222.70, 1215.50.
Resistance levels: 1242.90, 1246.50, 1249.70, 1256.30.
Trading tips
According to technical indicators, short positions could be opened from the current level with target at 1223.00 and stop-loss at 1248.00.
Long positions may be opened from the level of 1257.00 with target at 1270.00. Stop-loss is at 1248.00.
Implementation period: 1-3 days.
Spot Gold
Buy Sell Spread
1251.92 1251.3 62
Scenario
Timeframe Day's Range
Recommendations SELL
Entry Point 1242.83
Take Profit 1223.00
Stop Loss 1248.00
Support levels 1215.50, 1222.70, 1231.30, 1237.70, 1242.90, 1246.50, 1249.70, 1256.30
Alternative scenario
Recommendations BUY STOP
Entry Point 1257.00
Take Profit 1270.00
Stop Loss 1248.00
Support levels 1215.50, 1222.70, 1231.30, 1237.70, 1242.90, 1246.50, 1249.70, 1256.30