TechnoMeter

Gold prices rose about 0.7% on the week to trade around $1945. U.S. dollar strength and rising yields were offset by geopolitical risk and recession fears. So, near-term trading outlook for XAU/USD is neutral.



The daily price is on secondary ranging to be located in the primary bullish area of the chart with near and above Ichimoku cloud for trying to break 1,949 resistance level to above for the strong bullish trend to be resumed. Alternatively, if the price breaks 1,915 support level to below so the primary bearish reversal may be started with 1,890 nearest target to re-enter.

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