Gold Price Forecast: XAUUSD looks to test 21DMA at $1,653 if the pullback extends Gold XAUUSD
“Gold price confirmed a descending triangle formation after closing Friday above the falling trendline resistance at $1,650. XAUUSD price is challenging the 50-Daily Moving Averages at $1,675 on its retreat, looking for a test of the 21DMA resistance-turned-support at $1,653, should the pullback extend.”
“On the upside, buyers need to reclaim the previous day’s high at $1,682 in a bid to initiate a fresh rally towards the $1,700 mark.” If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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