Gold Price is making headway to the north this Tuesday. However, recovery appears limited by $1,821, with death cross in play, FXStreet’s Dhwani Mehta reports.
XAUUSD eyes $1,821 on its road to recovery
“Acceptance above the falling trendline resistance at $1,821 is critical to unleashing the further upside, as the bearish 21-Daily Moving Average (DMA) at $1,830 will be next on buyers’ radar. Further up, the June 27 high at $1,841 will come into the picture.”
“With the death cross in play, any upswing in gold price is likely to remain short-lived. The 50 DMA cut the 200 DMA for the downside on Monday, flashing a bearish signal.”
“Gold bears need a daily close below the $1,800 mark to resume the downtrend towards the critical support at $1,785, below which $1,780 the figure will be probed.”