Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Market Analysis – September 22
Gold (XAUUSD) buyers face resistance as they are experiencing downward pressure for the second time this month. The market took a downturn as buyers could not breach the critical 1946.830 key level. This inability to make substantial progress can be traced back to this month when buyers lost their momentum.
Gold (XAUUSD) Key Level
Resistance Zones: 2064.800, 1986.610
Support Zones: 1946.830, 1798.180
Gold (XAUUSD) Long-Term Trend: Bearish
Sell traders flexed their muscles after repelling buyers at the 1986.610 market level. This led to a decline in buying volatility. This shift in market sentiment has driven the yellow metal lower, with the potential for a further decline. The daily chart’s Bollinger Bands indicate a compressed stage. It signals decreased price volatility. It also explains the need for increased sell-trader strength to breach the critical support zone at 1886.480.
The Price Oscillator indicator has not shown a clear sign of increased volatility in the market. This suggests that the current conditions may persist. Additionally, the Relative Strength Index (RSI) has crossed into sell-strength territory at 48.84. It further underlines the steady dominance of sell traders in the market.
Gold (XAUUSD) Short-Term Trend: Bearish
On the 4-hour chart, there is a need for increased price volatility to facilitate a breakthrough. Traders are expected to make strategic moves this week. However, the attention is still focused on sell traders as they aim for the critical 1886.480 key level. Investors should closely survey as Gold navigates this phase of price consolidation and potential breakout.
You can purchase Lucky Block here. Buy LBLOCK
Note: Learn2.trade 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
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
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.