In the markets, gold is traditionally seen as a safe haven asset. This is because it doesn’t experience the same volatility as other assets, and it has been a reliable store of value over the years.
When analyzing gold using technical analysis, you can use indicators like the Relative Strength Index (RSI) to determine whether the market is overbought or oversold. You can also look at price trends to see if there’s any indication that the price is about to change direction. Xauusd Live Chart is available in our Telegram free channel.
If you’re looking to invest in gold, then it’s important to keep an eye on these indicators so that you can make informed decisions about when and how to buy. Please follow the instructions for xauusd tradingview–
- Majority of the initial daily losses being recaptured.
- Levels below 1629 continue to attract buyers.
- Posted a Double Bottom formation.
- A break of resistance at 1675 should lead to a more aggressive move higher towards 1731.
- Preferred trade is to buy on dip close of support.
Recommendations: Buy/Buy limit @ 1630-1635 area TP/Target: 1675