After breaking above the previous resistance, the EMA 50 of gold’s price at 1,776 was re-tested on Wednesday. A downward sloping trend line around 1,800 serves as resistance. A purchase signal has been produced by the fast stochastic because it crossed over its zero line.
The support rests at 1758.36 with resistance at 1793.49. The pivot point at 1790.52 and the price is moving above it. The EMA of 10 is moving in bullish bias in the ascendant channel and it crossed the EMA of 200 and the EMA of 100. Stochastic is moving in the high ranges. The RSI is moving at the level of 70 and the ADX is showing an upward momentum. The MACD histogram is in positive territory.

• There is resistance at 1793.49, followed by resistance at 1797.52 and 1800.49.
• There is support at 1786.49, Below, there is 1783.52 and 1779.49.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.

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