- Gold keeps eyes on $1820.
- Consolidation on $1825, would put the focus on $1840.
- Equity markets rise, in a day of calm and low volume.
Gold is falling modestly on Wednesday, in a day of calm in the financial markets and where range-based runs predominate. The XAU/USD it failed to break $1820 on Tuesday and is pulling back, trading in the $1812 daily low area.
Treasury yields move in no clear direction, while stock futures Wall Street They point to an opening with gains greater than 0.5%. The dollar for its part, measured by the DXY, rises 0.05%.
Panorama and levels to consider
On Tuesday gold had the highest daily close since late June, although during trading it failed to break December’s intraday high of $1825. The bullish trend remains firm although for the moment the increases are stopped by the area of 1820/1825$. Firming above would set the stage for the next strong resistance at the $1840 area.
A bearish correction could find support at $1805 initially and also around $1800. If you continue below, the key to the short-term bullish outlook is that it stays above $1783, a level close to various horizontal resistances and where the 20-day and 200-day moving averages converge. A close below would leave XAU/USD vulnerable.
technical levels
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
