HomeContributorsTechnical AnalysisXAUUSD Is Possibly Bearish

XAUUSD Is Possibly Bearish

Technical analysis

The price is under EMA(24) and EMA(120), suggesting a prevailing downtrend

The RSI(14) and the RSI(3) points to a downwards correction

The candlestick analysis dictates a downwards movement.

Most likely scenario – SELL

Target prices: 1,795 1,791

Alternative scenario – BUY

Target prices: 1,800 1,806

Key levels

Support 1,783 1,791 1,795

Resistance 1,800 1,806 1,811

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