Gold prices surged during the previous trading session, successfully breaching the strong resistance level highlighted in the previous report. This breach temporarily halted the downward trend and triggered a rise, with the metal reaching a high of $2665 per ounce, surpassing the initial targets of 2645 and 2657. Technical Outlook:A …
Read More »Gold tries to recover 2/1/2025
Gold prices are attempting a modest upward correction during the early trading sessions of this week, reaching a high of $2636 per ounce in today’s initial trades. Technical Analysis:A closer examination of the 4-hour chart reveals that the Stochastic indicator has entered overbought territory, coinciding with the price’s continued movement …
Read More »Gold tends to be negative 30/12/2024
Gold prices maintained their downward trend, albeit with weakened momentum, reaching a low of $2611 per ounce by the end of last week’s trading session. Technical Analysis: A closer examination of the 4-hour chart reveals the Stochastic indicator losing upward momentum, while prices remain stable below the 50-day simple moving …
Read More »Gold hits targets, eyes on Fed 18/12/2024
Gold prices fulfilled the anticipated negative outlook from the previous report, achieving the initial target at $2634 per ounce and recording a low of $2633. From a technical analysis perspective, a closer examination of the 4-hour chart reveals that the Stochastic indicator is gradually losing upward momentum. Additionally, the price …
Read More »Gold faces negative pressure 16/12/2024
Gold prices followed the expected upward trend outlined in the previous technical report, where the stability of trading above the 2678 support level was highlighted. However, as noted, breaking the 2670 support level would halt the bullish scenario, placing gold under negative pressure. This scenario materialized, with prices reaching a …
Read More »Gold flirts with historic peak 12/12/2024
Gold prices sustained a robust upward trend as anticipated in the previous report, reaching the target of $2720 and recording a peak at $2726 per ounce. Technical Analysis A detailed examination of the 4-hour chart reveals: Positive Signals: The simple moving averages continue to bolster the upward trajectory. The 14-day …
Read More »Gold hits targets, eyes on inflation 11/12/2024
Gold prices continued their upward trend, as anticipated in the previous technical report, reaching the required target at $2700 per ounce and recording a peak of $2704. From a technical standpoint today, the 4-hour chart reveals the stability of intraday trading above the breached resistance level, now acting as support …
Read More »Gold draws support line 10/12/2024
Gold prices showed a neutral stance in the previous analysis due to conflicting technical signals, with an emphasis that a clear breach of the pivotal resistance at 2655 would serve as a catalyst for a bullish trend, targeting 2665 and 2671, eventually recording a peak at $2676 per ounce. Today, …
Read More »Gold needs catalysts 9/12/2024
Gold prices continue to trade within a sideways range, remaining constrained between 2620 as support and 2655 as the main resistance level. Technical Analysis: 4-Hour Chart Insights: The simple moving average is attempting to provide a positive push to prices. Meanwhile, the Stochastic indicator shows persistent negative signals, reflecting conflicting …
Read More »Gold is moving in a sideways range 5/12/2024
Gold continues to exhibit a sideways trend, trading within a narrow range confined between the support level at 2635 and resistance level at 2657 for several consecutive sessions. Technical Analysis: Positive Signals: The 50-day simple moving average provides upward pressure, hinting at the possibility of a bullish breakout. Negative Signals: …
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