On Thursday (April 3), spot gold experienced a surprising volatility, with a single-day fluctuation of nearly $114, and the price of gold finally closed down.
Analyze the technical outlook of gold intraday.
The 4-hour chart of gold shows that the price of gold is trading below the currently flat 20-period SMA, but it is still well above the bullish 100-period SMA, which provides support near $3040/oz. At the same time, technical indicators have recovered from near oversold readings and stabilized within negative levels. If the price of gold falls below the above-mentioned $3040/oz area, the price of gold may fall sharply.
Support: $3086.70/oz; $3073.90/oz; $3061.10/oz
Resistance: $3123.10/oz; $3136.70/oz; $3150.00/oz
Analyze the technical outlook of gold intraday.
The 4-hour chart of gold shows that the price of gold is trading below the currently flat 20-period SMA, but it is still well above the bullish 100-period SMA, which provides support near $3040/oz. At the same time, technical indicators have recovered from near oversold readings and stabilized within negative levels. If the price of gold falls below the above-mentioned $3040/oz area, the price of gold may fall sharply.
Support: $3086.70/oz; $3073.90/oz; $3061.10/oz
Resistance: $3123.10/oz; $3136.70/oz; $3150.00/oz
Trade active
Reference data for the day:US unemployment rate in March
US seasonally adjusted non-agricultural employment in March (10,000 people)
Trade closed: target reached
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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.