XAUUSD

On the first trading day of the week; the US 10-year Treasury bond yield continuing to recover above 4% left room for a slight pullback in the short term for gold ounces. When we technically evaluate short-term gold ounce pricing, we are following the 2044 - 2052 region, which is currently supported by the 34 (2044) period exponential moving average. As long as the precious metal moves below the 2044 - 2052 region, a downward trend may come to the fore. If the downward trend continues, a movement area may form towards the 2024 and 2017 levels. In the meantime, the 61.8% correction level can be monitored for the stance of 2017 and the continuation of the pullback expectation. In order for positive expectations to come to the fore, a persistence above the 2052 - 2061 region may be required. In this case, the 2061 and 2070 levels may be encountered in possible increases. Support: 2024-2017 Resistance: 2052-2061