Gold Price Forecast: XAU/USD bulls try their luck but upside appear limited amid cautious optimism Gold XAUUSD
“Investors remain edgy amid slim chances of a meeting between the Russian and the Ukrainian leaders while cease-fire talks will likely continue. The developments surrounding the two warring nations will likely lead the“Gold is testing the trendline support now resistance at $1,931 on its road to recovery. If the latter is scaled on a sustained basis, then the 23.6% Fibo level at $1,937 will come into play once again. Further up, the mildly bullish 21-DMA at $1,953 will be retested.
“If the previous day’s low of $1,917 gets cracked convincingly, then floors will open floors towards the previous week’s low of $1,910. The line in the sand for gold bulls is seen at $1,895, where the March 16 low and ascending 50-DMA align.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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