XAUUSD

With the effect of consumer inflation cooling down less than expected in the US, the 10-year Treasury bond interest rate exceeding 4.30% left room for pricing dominated by the desire to downgrade ounce gold in the short term. When we technically evaluate the short-term pricing of ounce gold, we are following the 2012 - 2021 region, which is currently supported by the 34 (2018) period exponential moving average. As long as the precious metal is traded below the 2012 - 2021 region, negative expectations may come to the fore. If the desire to downgrade continues, there may be a movement area towards the 1985 and 1977 levels. At this stage, the reaction of the 1973 - 1977 range can be monitored in terms of continuing downward pricing. In the alternative case, it may be necessary to see persistence above the 2012 - 2021 region for the positive trend to come to the fore. In this case, the 2030 and 2040 levels may be encountered in possible increases. Support: 1985-1977 Resistance: 2012-2021