XAUUSD

The limited movement of the US 10-year Treasury bond interest rate around 4.10% allowed for a relatively horizontal pricing of gold in the short term. When we technically evaluate the short-term pricing of gold, we are following the 2030 - 2040 region, which is currently supported by the 34 (2033) period exponential moving average. As long as precious metal prices are traded below the 2030 level, negative expectations may come to the fore. If the downward trend continues, there may be a movement area towards the 2021 and 2012 levels. In the meantime, the trend line (2017) may draw an appearance that limits the pullback trend. In the alternative case, it may be necessary to see persistence above the 2030 level for the positive trend to come to the fore. In this case, the 2040 and 2052 levels may be encountered in possible increases. Support: 2021-2012 Resistance: 2040-2052