Gold prices have sustained their impressive rally into the second consecutive week, reaching a pinnacle during the initial trading sessions of this week at $2,189 per ounce, marking a new record high. Today’s technical analysis, focusing on the 4-hour timeframe chart, reveals that the simple moving averages remain supportive of …
Read More »Gold continues to record new historical peaks 7/3/2024
Gold prices have continued their remarkable ascent, defying our earlier anticipation of a bearish trend. In our previous report, we emphasized the significance of trading below the historical resistance level of 2144. However, with the price surging beyond this historical peak, reaching $2161 per ounce at the opening of today’s …
Read More »Gold hits resistance and loses momentum 6/3/2024
Gold prices experienced significant gains during the previous trading session, in line with the anticipated positive trend, nearing the historical peak recorded around $2144 per ounce and reaching a high of $2141. Analyzing the technical aspects today, particularly on the 4-hour timeframe, we observe that the resistance level at $2144, …
Read More »Gold is flirting with the historical peak 5/3/2024
Gold prices surged in the latest trading session, surpassing the targets outlined in technical reports from the previous week. The precious metal reached a peak of $2118 per ounce, marking a significant milestone in its upward trajectory. Analyzing the 4-hour chart through a technical lens reveals that the simple moving …
Read More »Gold building on support 29/2/2024
The support level highlighted in the previous technical report, situated at $2025, effectively bolstered the positive stability of gold prices. After successfully retesting this level, with a peak at $2024, gold prices experienced an upward rebound, currently trading near their highest point during the early session, at $2037 per ounce. …
Read More »Gold struggling to climb 28/2/2024
Gold prices encountered downward pressure during the preceding trading session following their ascent to the 2040 resistance level. This led to a decline, resulting in intraday movements stabilizing around the lowest level for the current period, priced at $2030. Today’s technical analysis, upon examination of the 4-hour timeframe chart, reveals …
Read More »Gold maintains the same technical conditions 27/2/2024
Gold prices surged, buoyed by the support level highlighted in the previous technical report at the price of 2016. This support level played a pivotal role in driving prices upward, aligning with our positive outlook. The market witnessed the attainment of initial official targets, reaching as high as 2042.00. Analyzing …
Read More »Gold successfully tests support 26/2/2024
Gold prices surged, buoyed by the support level highlighted in the previous technical report at the price of 2016. This support level played a pivotal role in driving prices upward, aligning with our positive outlook. The market witnessed the attainment of initial official targets, reaching as high as 2042.00. Analyzing …
Read More »Gold is holding above support 23/2/2024
Gold prices have reached the initial technical target at $2035 per ounce, marking its highest level in the previous trading session. Upon examining the 4-hour timeframe chart from a technical perspective, it’s observed that the $2035 level has acted as a barrier to further upward movement in gold prices. However, …
Read More »Gold Remains Above Critical Support 22/2/2024
In a dynamic session of trading, gold prices experienced fluctuations, influenced by the strengthening of the US dollar following the Federal Reserve Committee’s announcements. Despite initial setbacks, gold surged to reach its peak at $2032 per ounce, showcasing resilience amidst market pressures. Technical Analysis Insights A comprehensive analysis of the …
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