Gold - Tensions between Russia and Ukraine are intensifying, and
Gold rose for the fourth consecutive trading day on Thursday, reaching a high of more than a week, and tensions between Russia and Ukraine intensified, leading to a surge in risk-averse demand. During the global crisis, investors flocked to risk-averse assets. Since the outbreak of the Middle East conflict in October last year, gold has hit record highs many times. Since this week, the gold price has risen by 4%, the best performance since April, recovering from the largest single-week decline in more than three years last week.
As can be seen in the technical chart, the RSI and stochastic indexes continue to rise, and even the MACD indicator breaks the signal line, which also indicates that the gold price can maintain a high tendency. If calculated by the cumulative decline in the month, the margin of 61.8% is $2,692. And the 25-day average line 2685 is also a key reference. If the gold price can remain stable above this area in the short term, it will further consolidate the rise of the gold price; the larger resistance is 2750, and the medium-term key target is still the 2800 barrier that failed to break through last month. The closer support is estimated at $2,665 and $2,658, and the next level is estimated at $2,548.
As can be seen in the technical chart, the RSI and stochastic indexes continue to rise, and even the MACD indicator breaks the signal line, which also indicates that the gold price can maintain a high tendency. If calculated by the cumulative decline in the month, the margin of 61.8% is $2,692. And the 25-day average line 2685 is also a key reference. If the gold price can remain stable above this area in the short term, it will further consolidate the rise of the gold price; the larger resistance is 2750, and the medium-term key target is still the 2800 barrier that failed to break through last month. The closer support is estimated at $2,665 and $2,658, and the next level is estimated at $2,548.
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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.