Waiting for the next pullback to go down. (Downtrend)

27 Jun

The 4-hour chart shows XAU/USD has fallen below all its moving averages, while a firmly bearish 20 SMA crossed below a flat 100 SMA, usually a sign of persistent selling interest. At the same time, the Momentum indicator turned south after failing to overcome its midline, maintaining a clear downward slope. Finally, the Relative Strength Index (RSI) indicator accelerated south, now hovering around 30 with no signs of changing course.

Support levels: 2,293.50 2,279.60 2,265.60

Resistance levels: 2,316.60 2,329.50 2,337.00