Market Analysis – January 23 Gold (XAUUSD) market analysis signals an impending bearish reversal trend. The Relative Strength Index (RSI) indicates an overbought condition at 70.33, which often precedes a potential price reversal. The 9-period Simple Moving Average (SMA) at $2725.0 currently serves as a dynamic support level. However, the divergence between price action and […]
Market Analysis – January 16 XAUUSD market potential shift to bearish momentum ahead. The XAUUSD chart incorporates the 9-day Simple Moving Average (SMA) and the Relative Strength Index (RSI). The SMA, currently at $2670.0, is positioned below the price level of $2720.0, signaling that the price is overextended and could be due for a reversal. […]
Market Analysis – January 10 Gold continues its struggle to recover from the sharp decline below the trendline that supported its bullish trend. The resistance level at 2715.0 remains a formidable barrier, stalling any meaningful restoration of the uptrend. Gold Key Levels Demand Levels: 2600.0, 2531.0, 2431.0Supply Zones: 2715.0, 2790.0, 3000.0 Gold Long-Term Trend: Ranging […]
Market Analysis – January 2 Gold prices are currently confined within a narrow range as the resistance level at 2715.0 and the support level at 2600.0 consistently limit price movements. This consolidation phase has restricted directional momentum, resulting in a range-bound market structure. Gold Key Levels Demand Levels: 2600.0, 2531.0, 2431.0Supply Levels: 2715.0, 2790.0, 2900.0 […]
Market Analysis – December 27 The gold market entered a bearish phase in November after breaking a supporting trendline on the daily chart. Despite efforts by buyers to regain control, they have consistently faced resistance at the critical level of 2715.0, resulting in the formation of a triple top pattern. Gold Key Levels Supply Levels: […]
Market Analysis – December 21 Gold has maintained a strong bullish trajectory since forming a significant low in early October 2023. This uptrend has driven prices through multiple resistance levels. Notably, the price surged past the critical demand level at $2,228.10, showcasing robust bullish momentum. Gold Key Levels Demand Zones: 2228.10, 2071.70, 1806.10Supply Zones: 2464.20, […]
Market Analysis – December 12 Gold experienced a bearish phase in October, resulting in a significant drop below the bullish trendline established in July. However, the bulls have regained momentum, driving the price higher and resuming the overall uptrend. Gold Key Levels Demand Zones: 2531.0, 2431.0, 2305.0 Supply Zones: 2708.0, 2770.9, 3000.0 Gold Long-Term Trend: […]
Market Analysis – December 5 Gold is experiencing a balance of buying and selling pressures, leading to stagnation in price movement. This equilibrium between demand and supply has restricted significant market activity in recent sessions. Gold Key Levels Demand Levels: 2531.0, 2431.0, 2305.0 Supply Levels: 2708.0, 2770.9, 3000.0 Gold Long-Term Trend: Bearish In November, gold […]
Market Analysis – November 28 Gold experienced a bearish shift in November, breaking below a long-standing upward trendline. After the breakout, the price retraced to test this broken trendline, which now serves as resistance alongside the 2708 resistance zone. Gold Key Levels Demand Levels: 2531.0, 2431.0, 2305.0Supply Levels: 2643.0, 2708.0, 2770.0 Gold Long-Term Trend: Bearish […]
