Gold Down After Hitting ATH
Gold (XAU/USD) price declined after hitting a new record high on Monday (4/14) and traded with a mild negative bias around the $3,220 area during the first half of the European session.
The positive sentiment around the equity markets prompted profit-taking around the precious metal amid slightly overbought conditions on the daily chart.
RECOMMENDATIONS
- Buy if price moves to $3,220
- Sell if price moves to $3,206
Resistance Level 2: $3,234
Resistance Level 1: $3,227
Support Level 1: $3,199
Support Level 2: $3,192
Note:
This article is only an analysis and not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id