Gold Still Awaiting Pending Orders

We remained neutral during the previous report, due to the contradictory technical signals to witness the previous trading session, a sideways tendency to bearishness, as gold returned again to hover around 1771.

On the technical side today, the intraday trading is stable below the resistance level of 1784, which supports the negativity, and on the other hand, the stability of trading above 1771 accompanied by the positive motive of the 50-day moving average that supports the upside.

We are still facing confusion in determining the daily trend, and therefore we continue to remain neutral for the second consecutive session. activation of pending orders will lead to:

Activating the short positions requires breaking 1771, and from here we target 1765 correction of 50.0% as a first target, and then 1756 next stops.

Activating the purchase orders requires a clear and strong breach of the resistance level 1784/1786, which leads gold prices to the upward path with the first goal of 1792 and 1800, respectively.

S1: 1771.00	R1: 1786.00
S2: 1765.00	R2: 1792.00
S3: 1756.00	R3: 1801.00