- Gold prices hold strong support on both the daily and 4-hour schedules.
- Bulls still monitor an average reversal of 50% of weekly bearish resistance.
As per the previous analysis, Gold Price Analysis: XAU / USD bulls test vital daily resistance, there is still a focus on the average 50% weekly turnover with old support.
Preliminary analysis
Weekly charter
Bulls move backwards to test old support and 50% average turn.
Daily schedule
The daily chart shows that the price is at a crossroads.
At the front, it is possible that he will return to confirm the support and leave the price locked.
On a breakout resistance, a reversal is expected to test the 21-D SMA that would meet an average 50% reversal of the bearish weekly stop.
Live market, daily and 4-hour schedules
The daily chart, above, has outperformed a daily counter that would now be expected to support.
The 4-hour chart, below, shows the price holding at support in the confluence of the 21-SMA, the rising trend line support and the previous resistance.
