FX.co ★ king.zelda | XAU/USD, GOLD

Hello traders, Gold XAUUSD (H1) is trading above the day's opening level of 5012.00 and above the daily Pivot level of 5003.00. Key indicators are showing a bearish trend, and the price is below the MA72 trend line, where volume unloading usually occurs. A price increase above the level of 5020.00 will allow the price to move towards the level of 5044.00 or even towards 5050.50 and higher. Below the level of 5020.00, the pair will move south towards the level of 5003.00 and may even go lower to 4987.58 and beyond. The pair is trading above the monthly Pivot level of 4987.58 (previous 4929.79), below the weekly Pivot level of 5089.79, and above the daily Pivot level, indicating a corrective sentiment for the pair. The current session's fork level is 5020.00. The first resistance is at 5044.00, and the first support is at 5012.00.