Technical Analysis – Gold sluggish below 1,830 but bullish pressures still alive



Gold has been trading at a sluggish pace below the tough 1,830 resistance zone for the past three weeks, but the latest upturn in the price could show more resilience according to the technical picture.

With the RSI fluctuating within the bullish territory and the MACD standing above its signal and zero lines, the bias is skewed more to the upside than to the downside. Also, the progressing bullish cross between the shorter and longer-term simple moving averages (SMAs) is raising hopes for trend improvement in the market. But a confirmation signal could only come above the 1,830 bar, where the tentative descending trendline drawn from the record top of 2,079 is currently intersecting the 23.6% Fibonacci retracement of the latest upleg (1,680 – 1,877).

A sustainable move above 1,830 could clear the way towards November’s high of 1,870, unless the 1,850 barrier cools buying pressures. Further up, all eyes would shift to the 1,900 – 1,916 region, a break of which is required to upgrade the neutral medium-term picture, and hence bring the 2021 top of 1,959 under the spotlight.

On the downside, a close below the 1,800 round-level could confirm another decline towards the 50% Fibonacci of 1,778 and the 1,770 support area. Note that an ascending trendline stretched from the 2020 lows is around this neighborhood. Hence, any significant violation here could sharpen selling interest, likely pressing the price immediately within the 1,743 -1,722 territory. Should the sell-off gain extra legs, the door would open for the five-month low of 1,680.

In brief, gold's short-term bias is still within the positive territory despite the soft pullback from 1,830 last week, suggesting that the bulls have not abandoned the game yet. 


最新新聞

Technical Analysis – EURUSD creates headways in broader bearish outlook


RBNZ is expected to raise rates; kiwi dollar surges – Forex News Preview


Daily Market Comment – Markets turn cautiously positive but growth fears persist



Technical Analysis – Gold rises back above 200-day SMA

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。

所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。

本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。

風險提示:您的資金存在風險。槓桿商品並不適合所有客戶。請詳細閱讀我們的風險聲明