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- Gold Price Forecast: XAU/USD consolidates before resuming the uptrend toward $1,929
Gold Price Forecast: XAU/USD consolidates before resuming the uptrend toward $1,929
Gold price remains depressed for the second successive day. But bulls are not out whilst above $1,900, FXStreet’s Dhwani Mehta reports.
Gold bulls must defend the 21-SMA at $1,906 to resume the uptrend
“Should Gold buyers regain control, the price could head back toward the $1,920 round figure, above which the multi-month high will be on tap once again.”
“A four-hourly candlestick closing below the bullish 21-Simple Moving Average (SMA) at $1,906 could offer additional legs to the ongoing correction. Gold sellers will then aim for the $1,900 threshold. A fresh drop toward the upward-sloping 50SMA at $1,882 will be on the cards on a sustained break below the latter.”
See – Gold Price Forecast: XAU/USD to see substantial selling flow on a break below $1,865 – TDS
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