Gold Prices Plunge Towards August 2021 Lows, Where to?
Gold prices have been getting washed out this week so far. While losses have slowed recently, XAU/USD finds itself sitting just above lows from August 2021. That makes for a range of support between 1716 - 1722.
Still, getting there entails breaching 1731. The near-term 20- and 50-period Simple Moving Averages (SMAs) remain tilted lower, offering a downside bias. These may come into play as resistance in the event of a turn higher.
Clearing the August 2021 low would subsequently expose the 2021 low at 1676.
XAUUSD
Still, getting there entails breaching 1731. The near-term 20- and 50-period Simple Moving Averages (SMAs) remain tilted lower, offering a downside bias. These may come into play as resistance in the event of a turn higher.
Clearing the August 2021 low would subsequently expose the 2021 low at 1676.
XAUUSD
