XAUUSD

On the first trading day of the week; the ounce of gold exhibited a slight pullback due to the decrease in concerns about geopolitical risks and the US 10-year Treasury bond yield rising above 4.66%. The precious metal, which opened the day at 238a5, is trading around 2372 while the analysis is being prepared. When we evaluate the short-term pricing of the ounce of gold technically, we can see downward relaxations as long as it remains below 2,373.56. The daily loss for the ounce of gold, which closed at 2,369.85 on the previous trading day, was 0.94%. The RSI indicator for the ounce of gold, which is above its 20-day moving average, is at 66.97, while its momentum is at 103.44. The 2,373.56 level can be followed in intraday upward movements. If this level is exceeded, the resistances of 2,384.91, 2,399.98 and 2,411.33 may become important. In case of possible pullbacks, 2,358.49, 2,347.14 and 2,332.07 will be monitored as support levels. Support: 2358 - 2347 Resistance: 2384 - 2399