XAUUSD (Gold) Technical Chart Analysis

XAUUSD (Gold) Daily Chart Analysis
Current Price:
$3,011.89, up +0.96% today
High: $3,014.23 | Low: $2,978.59

*Technical Overview:
🔹 Trend:
Gold remains in a strong uptrend, forming consistent higher highs and higher lows since late 2023.
However, the recent price action shows a pullback after reaching new highs.

🔹 Stochastic RSI:
%K = 4.55, %D = 23.48 → Oversold zone

Indicates potential for a short-term bounce if momentum picks up.

🔹 MACD:
Bearish crossover in progress, histogram turning red.

Suggests short-term bearish pressure, though it's likely a healthy correction within a larger bullish trend.

🎯 Strategy Outlook:
🔸 Short-Term Strategy:
Wait for a bullish confirmation near the $2,975 support zone.

Watch for reversal signals from oversold Stoch RSI.

Consider short-term buys if price stabilizes above $2,980–$3,000.

🔸 Long-Term Strategy:
As long as the price holds above $2,900–$2,950, the overall uptrend remains intact.

Dips could be seen as buying opportunities in the long run.

Use pullbacks to scale in gradually with proper risk management.

*Thoughts :
Gold is currently in a technical pullback but still bullish in the bigger picture. Short-term traders should stay cautious, while long-term bulls can look for dips to buy.