Gold (XAUUSD) Price Is Range-Bound Within $1,868 and $1,833 Levels – Cryptovibes.com – Daily Cryptocurrency and FX News

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Gold Weekly Price Analysis – June 18

In case the bears defend the resistance level of $1,868, the price may decrease towards $1,833, $1,805 and $1,786 levels. Gold price may continue an uptrend movement provided the resistance level of $1,868 is broken upside, then, $1,888 and $1,915 levels may be tested.

 

XAUUSD Market

Key levels:

Resistance levels: $1,868, $1,888, $1,915

Support levels: $1,833, $1,805, $1,786

XAUUSD Long-term Trend: Ranging

Gold is on the ranging movement on the long-term outlook. The yellow metal tested the support level of $1786 on 16 May. It bounced up with the formation of pin bar. Price increases and tested the resistance level of $1868 on 24 May. The resistance level of $1,868 holds, bulls were not able to push price above the just mentioned level. Likewise, the support level of $1,833 withstand the pressure of the bears. The price is currently ranging between the two levels.

Gold is trading around the two EMAs which indicate that the bulls’ momentum is equal the bears’ momentum. The 9 periods EMA remains interlocked with the 21 periods EMA. In case the bears defend the resistance level of $1,868, the price may decrease towards $1,833, $1,805 and $1,786 levels. Gold price may continue an uptrend movement provided the resistance level of $1,868 is broken upside, then, $1,888 and $1,915 levels may be tested.

XAUUSD Medium-term Trend: Ranging

Gold is on the ranging movement on the 4-hour chart. The white metal was range-bound within the resistance level of $1,869 and the support level of $1,833 for more than a week. On 13 June, bears increase their momentum and the support level of $1,833 was penetrated downside. Support level of $1,805 was tested, it bounces up and continued its ranging movement.

The price is trading over and around the 9 periods EMA and 21 periods EMA as an indication of ranging market. The Relative Strength Index period 14 is at 51 levels with the signal line pointing down to indicate sell signal.



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