Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Gold prices rebounded strongly in the previous session, reaching a high of $4,236 per ounce.
Technical Outlook – 4-Hour Timeframe:
Simple moving averages are providing positive momentum and acting as dynamic support, which may support further upside movement. The Relative Strength Index (RSI) continues to send bullish signals, reflecting a clear improvement in upward momentum. Price action remains above an ascending trendline, giving gold a solid technical foundation for additional gains.
We maintain a bullish bias, with a confirmed break above $4,236 likely opening the door for an extension towards $4,250, followed by $4,260.
On the downside, a return to trading below $4,180 could introduce temporary pressure, targeting a retest of $4,135 as the first support, with $4,105 as the next potential level.
Warning: Highly significant U.S. economic data is scheduled for release today, including the Non-Farm Private Employment Change and the ISM PMI. Sharp price volatility is possible around the release time.
Warning: Trading gold carries a high level of risk and may not be suitable for all investors. The risk remains elevated amid ongoing trade and geopolitical tensions, and all scenarios remain possible.
Risk Disclaimer: Trading CFDs involves risks, and therefore all scenarios may be plausible. The content above is not a recommendation to sell or buy but rather an explanatory reading of price movement on the chart.
| S1: 4178.00 | R1: 4250.00 |
| S2: 4135.00 | R2: 4280.00 |
| S3: 4105.00 | R3: 4325.00 |
