One of our readers asked about Gold (XAUUSD), how is the chart looking now? What is it saying?
For Gold Spot (XAUUSD), the chart is starting to look bearish after a lower high and a candle close below EMA10 (green line).
We have the MACD, pictured below, printing a bearish cross.
We also spotted bearish divergence with the RSI.
We have the RSI closing lower while XAUUSD was closing higher:
Our first target if prices continue to drop will be $1644.84 or EMA50.
If this level breaks, prices can go even lower and hit ~$1550... This is not financial advice.
Thanks a lot for reading.
Namaste.
For Gold Spot (XAUUSD), the chart is starting to look bearish after a lower high and a candle close below EMA10 (green line).
We have the MACD, pictured below, printing a bearish cross.
We also spotted bearish divergence with the RSI.
We have the RSI closing lower while XAUUSD was closing higher:
Our first target if prices continue to drop will be $1644.84 or EMA50.
If this level breaks, prices can go even lower and hit ~$1550... This is not financial advice.
Thanks a lot for reading.
Namaste.
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