XAU - technical profile.
Currently, gold quotes are between two local levels. Support is the level of 1927.89. It is still far away, but nevertheless, a breakdown of this level can seriously affect the current picture. After this breakdown, it will be possible to say that in the medium term the fate of the asset is already predetermined. The role of resistance now belongs to the level of 1937.36. If it is passed, then buyers will be able to push the price of gold up to 1950. To be honest, I would not like to see such a scenario since I have an open position to sell.
Aleksandr Shirin
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