Gold Price Analysis: Bullish Trend ContinuesGold Price Analysis: Bullish Trend Continues Gold (XAU/USD) continues to trade in the positive territory, currently at $2,328.99, up 0.04%. On the 2-hour chart, the pivot point is established at $2,325.85. Above this level, immediate resistance can be found at $2,336.85, $2,345.35, and $2,355.14. Conversely, should the price fall below the pivot point, support levels emerge at $2,318.83, $2,309.68, and $2,300.67. Technical indicators suggest a bullish trend. The 50-day exponential moving average (EMA) stands at $2,325.61, while the 200-day EMA rests at $2,328.23. The current price action is situated above the $2,325.85 pivot level, indicating a bullish bias. A break below this level could potentially trigger a sharp decline in the price.
Gold (XAU/USD) is trading at $2,328.99, up 0.04%. On the 2-hours chart, the pivot point is at $2,325.85. Immediate resistance levels are at $2,336.85, $2,345.35 and $2,355.14. Immediate support is at $2,318.83, followed by $2,309.68 and $2,300.67.
Technical indicators show the 50-day exponential moving average (EMA) at $2,325.61 and the 200-day EMA at $2,328.23. The current trend is bullish above the $2,325.85 pivot level. A break below this level could trigger a sharp selling trend.
