Gold prices are holding firm above $3,000, with the metal last trading near $3,021.80, up 0.33% on the day. The broader trend remains bullish, supported by an ascending trendline and the 50-day SMA around $2,881, but price action has flattened out in recent sessions.
🔹 MACD is still above zero, but fading slightly—momentum may be cooling.
🔹 RSI at 65.63 is elevated but no longer overbought.
🔹 Price remains well above the 50-day and 200-day moving averages, reinforcing the uptrend.
Support Zones:
$2,960 (trendline support)
$2,880 (50-day SMA)
Resistance:
$3,040 (recent swing high)
$3,100+ psychological level
Gold remains in an uptrend, but the bulls may need a catalyst to extend the rally meaningfully from here. Watch for a trendline break or momentum divergence as early warning signs.
-MW
🔹 MACD is still above zero, but fading slightly—momentum may be cooling.
🔹 RSI at 65.63 is elevated but no longer overbought.
🔹 Price remains well above the 50-day and 200-day moving averages, reinforcing the uptrend.
Support Zones:
$2,960 (trendline support)
$2,880 (50-day SMA)
Resistance:
$3,040 (recent swing high)
$3,100+ psychological level
Gold remains in an uptrend, but the bulls may need a catalyst to extend the rally meaningfully from here. Watch for a trendline break or momentum divergence as early warning signs.
-MW
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.