Gold (XAUUSD) Faces Battle Between Bulls and Bears

Market Analysis – March 25th

Gold (XAUUSD) faces a battle between bulls and bears. The recent surge in the price of gold attracted a significant number of buyers who believed in its upward momentum.

However, their optimism was short-lived, as the bears made a strong comeback. The rejection at the significant level of 2222.400 forced the bulls to drop out of the market. Unlike previous weeks, where buyers demonstrated their strong resolve, they failed to make significant progress this time. The bulls managed to challenge the market from the key level of 1984.030, but their efforts were in vain.

Gold (XAUUSD) Price Levels

Resistance Levels: 2222.000, 2147.000

Support Levels: 2026.000, 1984.000

Gold (XAUUSD) Long-Term Trend: Bullish

Towards the end of February, the buyers faced a temporary distraction but managed to pull through after a retest at the significance zone of 2026.870. Since the beginning of this month, the market has been fired up with a strong bullish upthrust.

The buyers easily broke the significant level of 22147.000 and pushed the price higher. However, the sellers attempted to take advantage of the situation, resulting in a retracement back to this level. The bulls, in an attempt to recover, pushed the price up to 2147.00 this week but failed to breach the significant level of 2222.000.

It appears that a correction in the price is underway, with sellers exerting their influence. The MACD (Moving Average Convergence and Divergence) indicator has reached its climax, indicating a potential shift in control. If the sellers regain control, it is highly likely that the price will correct itself to the key zone of 2088.300 and potentially beyond. Traders can gain valuable insights into the gold market by utilizing forex signals.

Gold (XAUUSD) Short-Term Trend: Bullish

On the short-term trend, the sellers are taking a dive lower, but the Parabolic SAR (Stop and Reverse) is yet to confirm the buyers’ exit from the shutdown trend. The recent demonstration from sellers can still be considered a pullback until a break below the significant level of 2147.000 is observed.

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