Gold stuck in moving averages and triangles.

23 мар. 2022 г.

There is no economic report till the US season today for gold. Gold might be downtrend before the US season as it breaks below the trendline support, and 100 and 50 SMA creates a death cross.


Gold price is hovering near to its 200 SMA. If gold price breaks below 200 SMA and stabilizes below $1907, it may test again below $1895/1890.

On the other hand, at 1932has a minor trendline resistance and around $1940/1945 moving average resistance.

So, as long as above 200 SMA, it may rise to the 50/100 SMA or trendline zone. But as 100 and 50 SMA has created death cross, it has the most possibility to drop.

Fundamentally gold is still neutral comes positive till the US season. But it has not changed a lot.

So, if gold breaks below 200 SMA in the H4 candle, you also can play for the sell order...

On the other hand, if gold breaks above the 100 and 500 SMA price of $1953/1955, gold will continue its uptrend. 1st target to the upside is $1970/1975, and the final target is $2000.