XAUUSD

When we evaluate the short-term price of ounce gold, the 2029 region, where the 34-period average is located, is important, but the precious metal may want to continue its upward trend above the relevant average. With this in mind, pricing can be monitored towards the 2052, 2061 and 2070 barriers. In particular, the reaction to be given at the 2052 level should be followed in the short term in answering the question of whether it will be a reaction sale or a trend rally. In the possible reaction idea, the 34-period average is the main support, but it should not be forgotten that permanent movements below the average are needed for the current scenario to be considered invalid, although it will continue positively as long as we do not observe a dramatic pricing. However, with this condition, a new pressure can be monitored towards the 1969 - 1977 bottom region. Support: 2031-2022 Resistance: 2052-2088