Gold Analysis Overview
Updated
Hello everyone,
We find ourselves currently above the mid channel on the daily timeframe, and the monthly range appears to be gradually approaching a neutral position. It's worth noting that the 1 Year High/6-month high reached 2083.78, demonstrating some fluctuations but hinting at the potential for a new upward trend.
Now, the pressing question is whether Gold is a buy or sell. In the short to medium term, it leans towards being a sell, but in the long term, it exhibits strong buy potential. This perspective aligns with the overall trend, supported by both SMA and EMA indicators across various timeframes.
Next, let's consider whether Gold is overbought, oversold, or neutral. Currently, it appears to be in a neutral position, with a slight inclination towards a positive sentiment that suggests going long could be a viable option.
Now, let's summarize Gold's recent performance:
- 1 DAY: +0.27%
- 1 WEEK: +0.07%
- 1 MONTH: +0.52%
- 3 MONTH: +0.21%
- 6 MONTH: -2.68%
- 1 YEAR: +15.22%
On Friday, Gold closed at 1925.255, which is above the 1D pivot point at 1921.86, indicating a positive sign. Looking ahead, in terms of support levels, there are robust supports at S1 1917.837 and S2 1895.514. For the upcoming week, the price is expected to reach the 1940 level and continue to gradually grow from there.
Feel free to leave a boost if you find this analysis helpful or insightful. Your feedback is much appreciated!
TradeWithTheTrend3344
Bullish Targets:
1940.26
1932.078
1929.35
1926.623
Bearish Targets:
1921.167
1918.44
We find ourselves currently above the mid channel on the daily timeframe, and the monthly range appears to be gradually approaching a neutral position. It's worth noting that the 1 Year High/6-month high reached 2083.78, demonstrating some fluctuations but hinting at the potential for a new upward trend.
Now, the pressing question is whether Gold is a buy or sell. In the short to medium term, it leans towards being a sell, but in the long term, it exhibits strong buy potential. This perspective aligns with the overall trend, supported by both SMA and EMA indicators across various timeframes.
Next, let's consider whether Gold is overbought, oversold, or neutral. Currently, it appears to be in a neutral position, with a slight inclination towards a positive sentiment that suggests going long could be a viable option.
Now, let's summarize Gold's recent performance:
- 1 DAY: +0.27%
- 1 WEEK: +0.07%
- 1 MONTH: +0.52%
- 3 MONTH: +0.21%
- 6 MONTH: -2.68%
- 1 YEAR: +15.22%
On Friday, Gold closed at 1925.255, which is above the 1D pivot point at 1921.86, indicating a positive sign. Looking ahead, in terms of support levels, there are robust supports at S1 1917.837 and S2 1895.514. For the upcoming week, the price is expected to reach the 1940 level and continue to gradually grow from there.
Feel free to leave a boost if you find this analysis helpful or insightful. Your feedback is much appreciated!
TradeWithTheTrend3344
Bullish Targets:
1940.26
1932.078
1929.35
1926.623
Bearish Targets:
1921.167
1918.44
Note
Bearish Target @ 1921.167 DoneNote
Bearish Target @ 1918.44 DoneNote
If the price should lock below 1917.312 it will open up bearish targets up to 1904.188! See the previous chart idea! 
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