FX.co ★ king.zelda | XAU/USD, GOLD

Hello traders, GOLD / Gold / XAUUSD

Sunday technical analysis of the pair on the daily chart. At the level of 5406.85, the price has reached the maximum TF and is now pulling back. The price has started to work within a large red zone. During the descent, the price may use the blue zone, which is just starting to form, as a resistance level. The price may fully work within the red zone, correct downwards to test the support level, with the red MA line at 3839.20 and the black MA line at 2832.30. The price may break below the black MA and continue to work within the extended red zone.