Technical Analysis (Gold) : XAU/USD 18 October 2022

Forex Technical Analysis : XAUUSD (Gold)

Date : 18 October 2022

Pivot point : 1659.00

Our preference : short positions below 1659.00 with targets at 1646.00 & 1639.00 in extension.

Alternative scenario : above 1659.00 look for further upside with 1667.00 & 1672.00 as targets.

Comment : as long as 1659.00 is resistance, look for choppy price action with a bearish bias.

Supports and resistances :

1672.00 **
1667.00 *
1659.00
1650.02 – Last price
1646.00
1639.00 *
1630.00 **

Warning : This information isn’t a buy-sell signal.

Source : Trading Central

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