Technical Analysis – Gold struggles for direction after advance pauses
The short-term oscillators currently suggest that bullish near-term forces are subsiding but remain in control. Specifically, the MACD histogram is softening but holds above zero and its red signal line, while the RSI is ticking downwards above its 50-neutral mark.
If the positive momentum fades and the price moves to the downside, the February resistance region of 1,959 could act as immediate support. Diving lower, the price could descend to challenge the recent low of 1,933. Should that barricade fail also, the 1,885 hurdle, which overlaps with the 50-day simple moving average (SMA), might provide downside protection.
Alternatively, should gold resume its short-term advance, the bulls could initially aim at the crucial 2,000 psychological mark. A violation of that region may open the door for the one-year high of 2,010. Failing to stop there, further advances could then cease at the March 2022 high of 2,070 registered after Russia’s invasion of Ukraine.
Overall, gold seems to be stuck in a rangebound pattern after its recent rally came to a halt. Hence, a break above the 2,010 ceiling is needed to revive bulls’ hopes for the continuation of gold’s uptrend.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。
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