Gold (XAU/USD) is trading at $2,376.98, up 0.34% in the latest session. The two-hour chart highlights key levels, with the pivot point at $2,370.22 serving as a critical support. Immediate resistance is at $2,381.39, followed by $2,393.00 and $2,402.46. On the downside, immediate support is at $2,361.10, with further support at $2,349.76 and $2,340.05.
Technical indicators show a bullish trend, with the 50-day EMA at $2,366.94 and the 200-day EMA at $2,348.09. The outlook remains bullish above $2,370.22; a break below this level could trigger a sharp sell-off.
Arslan, a webinar speaker and derivatives analyst, has an MBA in Finance and MPhil in Behavioral Finance. He guides financial analysis, trading, and cryptocurrency forecasting. Expert in trading psychology and sentiment.