XAUUSD

On the first trading day of the week; the effect of the recovery of the US 10-year Treasury bond yield towards 4.30% allowed the suppression of gold ounce recoveries in the short term. When we technically evaluate the short-term gold ounce pricing, we are following the 2003 - 2012 region, which is currently supported by the 34 (2009) period exponential moving average. As long as the precious metal is traded above the 2003 - 2012 region, the upward trend may continue. If the positive pricing demand continues, the 2021 and 2030 levels may be encountered. In the alternative view, in order for the negative expectation to come to the fore, it may be necessary to see permanence below the 2003 - 2012 region. In this case, the 1993 and 1985 levels may come to the agenda. At this stage, the 1985 level may draw an outlook that limits the desire for decline. Support: 2012-2003 Resistance: 2030-2042