In the previous trading session, gold exhibited a strong upward trend, meeting the initial targets outlined in the preceding technical report at $2040 and $2048, reaching its highest level at $2048 per ounce. From a technical standpoint, the $2048 level exerted negative pressure on the price, prompting a retest of …
Read More »Gold establishes a support floor 30/1/2024
Gold experienced positive trading during the initial sessions of the week, breaking free from a recent period of sideways movement. The precious metal established a robust support level around the 2016 mark. From a technical perspective today, the outlook tends towards optimism, relying on the stability of trading above the …
Read More »Gold is still in a sideways price range 26/1/2024
Gold prices demonstrated limited movements in the previous trading session, characterized by a prevailing downward trend. As highlighted earlier, breaching the 2016 level aims for a touchpoint at 2005, potentially reaching its lowest level at $2009 per ounce. From a technical standpoint, the price has returned to stability above the …
Read More »Gold: Resuming the decline requires confirmations 25/1/2024
The resistance point highlighted in the previous technical report at the price of 2034 successfully impeded the upward trend temporarily. As mentioned yesterday, a prudent approach is to closely observe price behavior. A drop below 2016 could signify a shift towards a downward trend, with an initial target of 2009 …
Read More »Gold is still waiting for a signal to move 24/1/2024
The technical outlook for gold has experienced little change, with the precious metal trading within a narrow range for the third consecutive session, bound by support near 2016 and resistance around 2034. In a detailed analysis based on the 240-minute time frame chart, the price has found stability above the …
Read More »Gold is waiting for a trend confirmation signal 23/1/2024
Gold has been trading within a narrow range, confined below the strong support level of 2016 and above the sub-resistance level at 2032, showing little significant change in its movements. In terms of technical analysis on the 240-minute time frame chart, the price has returned to stability above the 2016 …
Read More »Gold is waiting for a stronger trend signal 19/1/2024
Gold prices experienced a modest upward rebound in the last trading session, attempting to build on the previously established bottom around $2000. In our prior technical report, we highlighted that the consolidation of prices above 2016, and more significantly 2025, could potentially halt the possibility of a further decline. Examining …
Read More »Gold is touching targets 18/1/2024
Gold prices experienced significant losses in the last trading session, aligning with the anticipated negative trend outlined in the previous technical report. The prices touched the official target by breaking the support at $2016, reaching $2000 per ounce. In the current technical analysis, focusing on the 240-minute chart, the price …
Read More »Gold achieves the target and confirms breaking the support 17/1/2024
Gold prices experienced negative trading in line with the expected downward trajectory outlined in yesterday’s technical report, reaching the designated target at $2037 and marking a low at $2024 per ounce. Analyzing the 4-hour chart today reveals stability in trading below the support level of 2037, with gold still under …
Read More »Gold awaits confirmation of the breakout 16/1/2024
Gold prices are currently experiencing a downward trend after facing resistance at the critical level of 2065, leading to negative stability. From a technical standpoint today, examining the 240-minute chart reveals emerging signs of negativity on the Stochastic indicator. Simultaneously, clear negative trends are evident on the 14-day momentum indicator. …
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