The daily chart shows XAU/USD met buyers around the 23.6% Fibonacci retracement of the bullish run, which measured between $1,984.03 and $2,195.22 at $2,145.17. The same chart shows technical indicators have turned flat around overbought levels after correcting extreme readings, suggesting sellers have no say. At the same time, moving averages develop far below the current level, with the 20 Simple Moving Average (SMA) heading north almost vertically far above the longer ones.
Gold price struggles to capitalize on the previous day's bounce from the $2,145 region and oscillates in a range during the Asian session on Tuesday. Hawkish Fed expectations, elevated US bond yields and a bullish USD cap the upside.
Gold now buy 2156
Target 2185
SL 2136
Gold price struggles to capitalize on the previous day's bounce from the $2,145 region and oscillates in a range during the Asian session on Tuesday. Hawkish Fed expectations, elevated US bond yields and a bullish USD cap the upside.
Gold now buy 2156
Target 2185
SL 2136
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