Today, the technical analysis for XAU/USD (Gold against the US Dollar) indicates a strong bullish momentum. The price is hovering around $2,585, with upward momentum supported by various technical indicators:
RSI : 60.59, indicating a strong Buy .
MACD: Positive at 4.42, reinforcing the buying sentiment.
Moving Averages: The majority of moving averages (MA5, MA10, MA20, MA100) are signaling a Buy.
Take profit level: $2,592 and $2,600.87
entry Levels: $2,577.55 and $2,574.33
Overall, the short-term trend for gold seems bullish, driven by demand for safe-haven assets and technical buy signals. Traders should watch for resistance at the $2,620 level
