The XAU/USD chart indicates a bearish trend as the price is below a significant descending trend line. In the short term, there is potential for a price rise towards the first resistance level at 1966.26, which previously acted as a swing high resistance. If bullish momentum continues, the second resistance level at 1980.08, an overlap resistance, could pose a stronger barrier. Conversely, the first support level at 1933.95, an overlap support
The material has been provided by InstaForex Company – www.instaforex.com
The XAU/USD chart indicates a bearish trend as the price is below a significant descending trend line. In the short term, there is potential for a price rise towards the first resistance level at 1966.26, which previously acted as a swing high resistance. If bullish momentum continues, the second resistance level at 1980.08, an overlap resistance, could pose a stronger barrier. Conversely, the first support level at 1933.95, an overlap support
The material has been provided by InstaForex Company – www.instaforex.com
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