GOLD: What's the Next Trend?

XAUUSD Gold Traders
05-02

$Gold - main 2506(GCmain)$ $XAU/USD(XAUUSD.FOREX)$ Important data NFP data will be released!

TECHNICAL: Gold prices are experiencing a pullback as buyers failed to hold the 23 April low of $3,260 and are now targeting the $3,200 handle. The Relative Strength Index (RSI) is falling towards the neutral line, suggesting that sellers are entering the market.

Therefore, if gold prices effectively fall below $3,200, the next support level will be the $3,167 high of 3 April. Once that level is lost, the next target will be the 50-day simple moving average (SMA) of $3,080.

Gold is expected to continue to trade in oscillators in the Asian European markets!

Trade to keep sell orders trading! Trade in the 3255-3210 range!

Strategy: Sell:3242-3245 TP:3230 SL:3255

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