Technical analysis XAUUSD for 02.12.2024

The Tenkan-sen line is located below the Kijun-sen line. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud turned over from ascending to descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 2616. The closest resistance is the level 2651

Key levels

2587, 2616, 2651, 2669, 2716

Trading scenario

Recommended opening long positions (Buy Limit) from the level of 2651, with Take Profit of 2716 and Stop Loss of 2616

Alternative scenario

Recommended opening short positions (Sell Limit) from the level of 2616, with Take Profit of 2587 and Stop Loss of 2669