Permanecer 
Condiciones de negociación
Products
Herramientas
Gold is trading around $4,028, near the 61.8% Fibonacci retracement level drawn from the low of $3,965 to the high of $4,165. We could expect gold to consolidate above the solid support level of $4,020 in the coming hours. This support level has already acted as a solid support zone on July 8, 14, and 19, so we believe it could halt gold's decline, allowing it to rebound or resume its uptrend.
Gold has recorded a series of consecutive declines since reaching a high around $4,165; this level acts as strong resistance. At the same time, gold managed to close the gap from July 9, when it surpassed $4,121.
If the downward pressure persists, gold is likely to reach $4,010 in the coming hours, which represents the first daily support level (S_1). If XAU breaks below this zone, it could be expected to reach $3,985 near the second daily support level. This zone could also be considered a solid support level for gold; hence, a technical bounce around this zone is realistic.
Although there is still no clear signal to open long positions, we should wait for gold to consolidate above the 61.8% retracement level, around $4,035. Above this zone, a buying opportunity could be considered, with targets at the 38.2% level, which also coincides with the 21-day simple moving average (SMA), around $4,082.
If gold breaks above $4,080 and consolidates above this zone, the outlook could be positive, and we could expect it to return to the 200 EMA around $4,148 in the coming days.
¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.
