Gold (XAU/USD) Technical Analysis: Downtrend Gold closed last week at $2885.35 per ounce, showing a downtrend as it trades below key moving averages. The MACD indicator signals a negative trend. A potential sell opportunity arises if the price declines to $2875.53, with a target at $2860.66. Set a stop loss at $2899.00. Alternative Scenario If the price breaks above the $2899.00 buy zone, gold could move towards $2909.17 per ounce. Resistance and Support Levels Second Resistance: 2895.44 First Resistance: 2890.12 Pivot Level: 2885.60 First Support: 2880.56 Second Support: 2875.94