Early in the American session, gold was trading around 2,935, around the 21 SMS=A within the bullish trend channel forming since the beginning of February.
After having made a technical correction and reaching its high around 2,954, gold is now showing signs of a further bullish movement. We believe that if the metal consolidates above 2,933 in the next few days, we could expect it to continue rising until it reaches the 6/8 Murray located at 2,968.
The outlook could be negative below 2,946 (21 SMA) and a sharp break below the bullish trend channel could indicate a strong technical correction. if this scenario occurs, we could expect gold to fall towards 2,890. The price could even eventually fall towards the 200 EMA located at 2,845.
On daily and weekly charts, gold is showing exhaustion and overbought signs. So, we believe that any technical bounce will be seen as a signal to sell below 6/8 of Murray
After having made a technical correction and reaching its high around 2,954, gold is now showing signs of a further bullish movement. We believe that if the metal consolidates above 2,933 in the next few days, we could expect it to continue rising until it reaches the 6/8 Murray located at 2,968.
The outlook could be negative below 2,946 (21 SMA) and a sharp break below the bullish trend channel could indicate a strong technical correction. if this scenario occurs, we could expect gold to fall towards 2,890. The price could even eventually fall towards the 200 EMA located at 2,845.
On daily and weekly charts, gold is showing exhaustion and overbought signs. So, we believe that any technical bounce will be seen as a signal to sell below 6/8 of Murray
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The Choice Is Yours Let's Earn Together
Public Telegram Channel
t.me/CEO_PREMIUM_ANALYSIS
VIP Telegram Channel
t.me/FxMr_Signal
Public Telegram Channel
t.me/CEO_PREMIUM_ANALYSIS
VIP Telegram Channel
t.me/FxMr_Signal
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.