Gold
$XAU Technical Analysis and Price Forecast.
Gold plunge below $4,000 last week as the Middle east tension escalate. Sellers are more interested in Gold as Dollar is continuously getting strong.
Gold tested the key psychological support of descending channel and form a lower low near $3,960. At the time of writing this Gold is trading near $4,060.
$4,140 and $4,200 are reacting as resistance price level, while $4,020 and $3,900 are reacting as support.
If gold will make a day close above $4,080 than gold could extend the pump towards $4,200. However a day close below below $4,020 than it can extend the decline towards $3,900.
The Relative Strength index RSI is at 36 lower than the level of neutral, aiming downward indicating that the bearish momentum.
Moving Averages on daily time frame are near to make Death Crossover 50-DMA is near to flip 200-DMA.
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