XAUUSD $1,800 pivot
Gold has failed to build upside traction above the $1,800 level as the early week momentum in the yellow metal appears to be stalling now. Failure to move the price of gold above the $1,815 resistance level could result in another sudden drop towards the $1,760 level. Traders should watch the $1,800 level closely as it is acted as major pivot point for the trading action in the short-term.
XAUUSD is only bullish while trading above the $1,800 level, key resistance is found at the $1,815 and the $1,825 levels.
If XAUUSD trades below the $1,800 level, sellers may test the $1,775 and $1,760 support levels.