FX.co ★ king.zelda | XAU/USD, GOLD

Hello traders, Gold XAUUSD (H1) is trading below the day's opening level of 4696.00 and above the daily Pivot level of 4611.00. Key indicators are showing a bullish trend, with the price above the 72-period moving average trend line, where volume unloading usually occurs. A price increase above the level of 4727.00 will allow the price to move towards the level of 4750.00 or even 4763.00 and higher. Below the level of 4727.00, the pair will head south towards 4725.00 and may even go lower to 4710.00 and beyond. The pair is trading near the monthly Pivot level of 4727.56 (previous 4987.58 and penultimate 4929.79), above the weekly Pivot level of 4398.00, and above the daily Pivot level, indicating a bullish sentiment for the pair. At the current moment of this session, the monthly Pivot level is at 4727.56. The first resistance is at 4763.00, with the first support at 4710.00.