XAUUSD

Following the worse than expected results of retail sales data in the US, the 10-year Treasury bond yield was pulled down to 4.20% and then recovered to 4.25%, allowing for the suppression of gold ounce recoveries in the short term. When we technically evaluate short-term gold ounce pricing, we are following the 2003-2012 region, which is currently supported by the 34 (2008) period exponential moving average. As the precious metal forms within the 2003-2012 region, the decision-making scenario may be valid. Permanent pricing above the 2012 level may be needed for the positive expectation to be reinforced. In possible recoveries, the 2021 and 2030 levels may come to the agenda. In order for negative expectations to come to the fore, permanence below the 2003 level may be necessary. In possible declines, the 1993 and 1985 levels may be encountered. At this stage, the reaction of the 1985 level can be monitored in order to continue the pullback trend. Support: 1993-1985 Resistance: 2012-2023