FX.co ★ XAU/USD, GOLD

For XAUUSD today we are trading within a downtrend. But if the price closes above the 4133 high, then a bullish panther-type price increase will be formed and there will be a possibility of a medium-term rise above the 4202 high. It turns out the current support level is formed by the lows at 4221 dollars per ounce. A strong support level is located around 39.42. The priority is still to open short positions, since there has been no daily candle close above the previous high, which is a necessary condition for the formation of a bullish panther pattern for growth.