XAU/USD at a critical juncture, awaits US inflation for next big move. Gold extends the rebound to test the critical resistance level at 1789 - 1792.
=> The Golden cross is playing out for gold price but acceptance above $1792 is key - the confluence of the 100 and 200-Daily Moving Averages (DMA). Next target 1800 and 1810-1815.
=> On the flip side, immediate support is seen at the previous day’s low of $1772. And $1766 could then come to the rescue of gold bulls. The crucial support is seen at the horizontal trendline at $1,760 will be the line in the sand for gold optimists.
=> The Golden cross is playing out for gold price but acceptance above $1792 is key - the confluence of the 100 and 200-Daily Moving Averages (DMA). Next target 1800 and 1810-1815.
=> On the flip side, immediate support is seen at the previous day’s low of $1772. And $1766 could then come to the rescue of gold bulls. The crucial support is seen at the horizontal trendline at $1,760 will be the line in the sand for gold optimists.
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