XAUUSD Pivot 28th May 2021
This page will show readers daily XAUUSD forecast on the pivot point for Gold, and how price may move for the day.
The 4 hour time frame will be our focus for today’s pivot analysis for XAUUSD.
XAUUSD 4HR TF:
Gold price closed on the 27th May, 2021 at 1896.35.
Opening price for today is 1897.32.
Technically, Higher Daily price open may imply that price may close Bearish at the end of the day.
Pivot for the day is 1896.05 and this is below market open price.
Fresh Price is currently in progress. Top of the Range is 1912 while Range bottom is 1888.
The 4hr chart is currently showing that market price is currently moving in a Bullish Flag Range.
Bulls are actually waiting for fresh impetus that will give opportunity to take price much higher.
However, on the 4hr chart, we have the formation of Higher Higher, 1912 level.
Price may breakout higher towards Resistance 1 (1903 area) before jumping further to 1911 (Resistance 2).
Support 1, which is at the 1888 area is currently being eyed by the Bears.
A break below that level will definitely take price to Support 2 (1880 area)
Overall bias on the 4 hour chart is Bullish. (Buyers may buy every dip).
DAILY TIME FRAME:
Using Weekly pivot levels on the Daily time frame, the most relevant levels are as follows;
Remember that price closed for the week well above the weekly pivot (1871.71). Weekly pivot is currently below Daily Pivot (1896.05).
Weekly Resistance is at 1899
While weekly Support is at 1853.
Check Out XAUUSD Pivot For 27th May 2021:
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