XAUUSD Bear Market

Gold is struggling to recover above the $1,790 level as the bearish weekly technicals keep the yellow-metal under pressure in the near-term. Gold has turned technically bearish and is starting to create space between price and its trend-defining 200-day moving average. The stochastic indicator on the daily time frame is still pointing lower, further highlighting downward pressure towards the metal.


XAUUSD is only bullish while trading above the $1,800 level, key resistance is found at the $1,815 and the $1,815 levels.


If XAUUSD trades below the $1,800 level, sellers may test the $1,750 and $1,730 support levels.



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