Technical analytics

XAUUSD market technical outlook


Daily chart:

Buyers managed to close above the resistance zone 1324.00-1325.00, that indicates a probable maintaining of bullish tone on the market. However it’s obvious, that further growth of the quotes can be complicated without full-size downward correction. If upswing will express weakness approaching the last high (1342.83), this might be an indirect signal for downward reversal.


Local pivot-zone 1327.54 revealed demand for gold, that so far allows quotes to grow. However we can draw the same conclusions here: previous corrective swing has even no room to be placed on the screenshot! It’s an apparent abnormity, that should be fixed by the market.



Growth in direction 1342.83 and then downward reversal in direction 1327.54.

Trading recommendations:

  1. Longs in direction 1342.82.

  2. Shorts from the 1324.82 level (after a confirming signal).

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