Nothing seems to have changed for Gold, technically in the short-term, as the bullish potential remains intact so long as the 14-day Relative Strength Index (RSI) stays above the 50 level. The leading indicator is currently edging lower to near 55.50.
Buyers also stay hopeful amid a Bull Cross, with the 21-day Simple Moving Average (SMA) having closed above the 50-day SMA on Monday.
The immediate topside hurdle is seen in the $3,400 area, above which the static resistance at around $3,440 will be back in play.
Alternatively, sellers need to crack the 21-day SMA and the 50-day SMA confluence area near $3,350 to regain control on a sustained basis.
The next solid support is located at the 100-day SMA at $3,328. Only a sustained move below the latter will negate any positive bias in the medium term.
Xauusd signal sell 3376
Support 3370
Support 3366
Support 3350
Resistance 3386
Buyers also stay hopeful amid a Bull Cross, with the 21-day Simple Moving Average (SMA) having closed above the 50-day SMA on Monday.
The immediate topside hurdle is seen in the $3,400 area, above which the static resistance at around $3,440 will be back in play.
Alternatively, sellers need to crack the 21-day SMA and the 50-day SMA confluence area near $3,350 to regain control on a sustained basis.
The next solid support is located at the 100-day SMA at $3,328. Only a sustained move below the latter will negate any positive bias in the medium term.
Xauusd signal sell 3376
Support 3370
Support 3366
Support 3350
Resistance 3386
Trade active
Resistance hit 140 pips 
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.