Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Gold (XAU/USD) saw mixed trading during the previous session, with the price facing some selling pressure due to the strong resistance level of 4800, which continues to represent a key obstacle to further upward movement.
Technical Outlook – 4-Hour Timeframe:
The price successfully recovered above the 50-day simple moving average, which is providing strong dynamic support and reinforcing the short-term upward corrective trend. The price is also moving along an ascending trendline, further supporting the positive outlook as long as trading remains within this timeframe.
Meanwhile, the Relative Strength Index (RSI) is showing positive signals after moving out of oversold territory, which supports the possibility of a gradual improvement in upward momentum.
The price holding above the support level of 4765 maintains the bullish bias, but a confirmed break above the 4800 resistance level is needed to strengthen the bullish outlook. If this occurs, the price could target:
- 4837 as a first target
- 4870 as the next level
Conversely, a return to trading and stabilization below 4765 could bring back selling pressure on the price, with a potential move towards:
- 4730 as a first target
Caution: The risk level in trading gold is relatively high and may not be suitable for all investors. The risk remains elevated amid ongoing trade and geopolitical tensions, and all scenarios are 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: 4765.00 | R1: 4837.00 |
| S2: 4730.00 | R2: 4873.00 |
| S3: 4695.00 | R3: 4908.00 |
