In our previous report, we highlighted potential targets of 2374 and 2388 for gold, which successfully reached a high of $2391 per ounce. While a minor pullback occurred due to overbought conditions, the technical outlook remains bullish. Key Technical Signals: Support Holds: The 2353 support level effectively limited the recent …
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Gold prices have broken out of the previous sideways range, consolidating above the 2340 resistance level (23.60% Fibonacci retracement) as anticipated in our previous analysis. This breakout signals a potential shift in momentum towards a bullish trend. Technical Outlook: On the 4-hour chart, the price is now trading above the …
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Gold prices continue to trade within a tight range, bounded by the 2317 support level and the 2340 resistance level. Technical Outlook: The technical outlook remains unchanged, with a bearish bias prevailing. The price continues to trade below the crucial 2340 resistance level (23.60% Fibonacci retracement) on the 240-minute chart, …
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Gold prices continue to trade within a tight range, bounded by the 2318 support level and the 2340 resistance level. Technical Outlook: The technical outlook remains bearish, as the price continues to trade below the crucial 2340 resistance level (23.60% Fibonacci retracement) on the 240-minute chart. The 50-day simple moving …
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Gold prices remain under bearish pressure, continuing the downward trajectory as anticipated in our previous technical report. The price has reached a low of $2310 per ounce, confirming the ongoing downtrend below the pivotal resistance level of 2340. Technical Outlook: The technical outlook remains unchanged, with the price consistently trading …
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Gold prices have been trading within a narrow range, bounded by the 2317 support and 2340 resistance levels during the start of the week. Technical Outlook: Our technical analysis suggests a potential continuation of the downward trend. This bearish outlook is supported by the price remaining below the crucial 2340 …
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Gold prices reversed their previous downward trend and rallied during yesterday’s trading session, surpassing the key resistance level of 2340 and reaching a high of $2365 per ounce. This price action indicates a potential shift in sentiment towards a bullish outlook. Technical Outlook: The technical analysis now suggests a continuation …
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Gold prices opened on a positive note today, retesting the pivotal resistance level of 2340. However, the technical outlook remains predominantly bearish. Technical Analysis On the 240-minute chart, while the simple moving averages are now providing support from below, suggesting a potential upward trend, the price remains below the crucial …
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Gold prices remain confined within a narrow sideways range, bounded by the 2313 support level and the 2340 resistance level. Technical Outlook: Analysis of the 240-minute chart reveals a bearish flag pattern formation, indicating a potential continuation of the downward trend. The 50-day simple moving average is exerting negative pressure, …
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Gold prices experienced mixed trading in the previous session, influenced by the Federal Reserve’s interest rate decision. On the 4-hour chart, the key resistance level of 2340, as previously highlighted, successfully capped the upward movement. Gold’s inability to breach this level, combined with the persistent negative pressure from simple moving …
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