TradeProofer XAUUSD Sentiment Bullish While Resistance Holds

By Tom Stewart on 23 August 2021
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TradeProofer XAUUSD community members are currently net long, with 70.3% of community trades long gold against the dollar and 29.6% short. Despite recent USD strength gold has also appreciated recently, following a crash to he 1675 level.

Gold Resistance Holds

Technically gold has bounced from support at the 1675 level, however now has topped out around resistance at the 50 day moving average. The 50 day moving average is now below the 200 day MA in a bearish cross, and the RSI has capped out just below the 50% level, staying bearish.

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