Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Gold prices continue to trade within a narrow sideways range, fluctuating between $4310 and $4345, reflecting the absence of a clear near-term direction amid cautious and anticipatory market sentiment.
Technical Outlook – 4-Hour Timeframe:
Simple moving averages continue to support a positive short-term bias, indicating an underlying upward tendency, although momentum remains limited. Meanwhile, the Relative Strength Index (RSI) is hovering near overbought levels, which may restrict further upside and explains the current consolidation phase.
Given the conflicting technical signals, close monitoring of price action remains preferable to determine one of the following scenarios:
A confirmed break below the $4310 support level could accelerate losses, initially targeting $4282 and potentially extending toward $4262. Conversely, sustained consolidation above $4355 may allow prices to resume the upward trend, targeting $4376, with further gains possible toward $4403.
Caution: The level of risk in gold trading is relatively high and may not be suitable for all investors.
Caution: Today’s calendar includes high-impact economic data from the US, including monthly and annual core CPI figures and weekly jobless claims. From the Eurozone, markets await the ECB interest rate decision, monetary policy statement, and press conference, while the UK will release its interest rate decision and policy summary. Elevated price volatility is expected around these events.
Caution: The risk level remains high 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: 4310.00 | R1: 4356.00 |
| S2: 4282.00 | R2: 4376.00 |
| S3: 4262.00 | R3: 4403.00 |
