Gold Regains Bullish Momentum, May Revisit $1,850 High
Login

Gold Regains Bullish Momentum, May Revisit $1,850 High

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Key Resistance Levels: $1,900, $1,950, $2000
Key Support Levels: $1,750, $1, 700,$1,650

Gold (XAUUSD) Long-term Trend: Bullish
Gold (XAUUSD) is in an uptrend as it may revisit $1,850 high. Since January 26, the Gold price has been in a downward move. It fell to the low of $1, 780 as bulls bought the dips. The bullish momentum broke above the moving averages as price reached the high of $1,840. At the recent high, the Gold makes a minor retracement to the 21-day SMA . The uptrend will resume if the current retracement holds above the 21-day SMA.

Gold Regains Bullish Momentum, May Revisit $1,850 High
XAUUSD – Daily Chart

Daily Chart Indicators Reading:
Gold is at level 54 of the Relative Strength Index for period 14. It indicates that Gold is in the uptrend zone and it is capable of a further upward move. The 21-day SMA and the 50-day SMA are sloping sideways indicating a sideways trend.

Gold (XAUUSD) Medium-term bias: Bullish
On the 4 hour chart, the Gold price is in an upward move. The market is in a smooth uptrend as price breaks above the moving averages. Meanwhile, on February 10 uptrend, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that Gold will rise to level 1.618 Fibonacci extension or level $1,873.23.

Gold Regains Bullish Momentum, May Revisit $1,850 High
XAUUSD – 4 Hour Chart

4-hour Chart Indicators Reading
XAUUSD is below the 20% range of the daily stochastic. The market has fallen to the oversold region.`The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.


General Outlook for Gold (XAUUSD)
Gold’s (XAUUSD) price has resumed its upward move s it may revisit $1,850 high. If the initial retracement holds the uptrend will resume.


You can purchase crypto coins here. Buy Tokens


Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News