WohlstandMarketsLimited

XAUUSD(GOLD) - BEARISH TREND

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Description:

The counter XAUUSD is in the descending triangle from 31st March. The support baseline at the price 1676.48 and the resistance trend line at the prices 1755.62 and 1745.98 together form a descending triangle . Today the price is moving near the resistance line and it is expected move downwards. The bearish trend of the counter may continue further in the counter. The curves of the stochastic indicator are at the level 80 which gives additional support to the description.

The major levels for this counter are
R2 –1746.72
R1 –1738.10
PP –1721.92
S1 –1713.30
S2 –1697.12