Gold technical analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
XAU/USD is in a bearish correction after failing to hold near 4380.00 resistance. The price dropped below the 30.00, 60.00, and 90.00 SMAs, signaling a trend shift. The 30.00 SMA crossed below the 60.00 SMA, adding to downward momentum. The area near 4160.00 now acts as strong resistance.



The price found support at 3900.00 and is rebounding toward 4000.00, the next resistance. RSI at 42.71 shows sellers still in control despite the short-term bounce. A break above 4000.00 could open the way for a bullish recovery toward 4160.00 and a retest of 4380.00 as the next targe
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