XAUUSD

In the middle of the week; with the effect of the US 10-year Treasury bond yield pulling back to 4.26%, the ounce gold recorded an outlook dominated by the desire to rise in the short term. The precious metal, which opened the day at the 2023 level, is trading around the 2030 level while the analysis is being prepared. The FOMC meeting minutes can be followed during the day due to their possible effects. When we evaluate the short-term ounce gold pricing technically, we are following the 2012 - 2021 region, which is currently supported by the 34 (2016) period exponential moving average. As long as the precious metal is trading above the 2012 - 2021 region, the upward trend may continue. If the positive pricing desire continues, the 2040 and 2052 levels may be encountered. In the alternative view, it may be necessary to see permanence below the 2012 - 2021 region for the negative expectation to come to the fore. In this case, the 2003 and 1993 levels may come to the agenda. Support: 2021-2012 Resistance: 2040-2052