GOLD possible bearish continuationXAUUSD - Possible for a bearish continuation for next week, with NFP forecasted to be weaker. But watchout for some retrace / correction for intraday play.
Gold
Gold XAUUSD Move 03-07 March 2025Technical Analysis & Trade Signal
Market Overview:
Current Price: Around 2,858.140 USD
Trend Analysis:
The price was in an uptrend but recently broke down, indicating a possible bearish reversal.
A key support level was broken, which is now acting as resistance.
Key Levels:
Resistance Zones:
Minor Resistance: 2,900 - 2,920 USD
Strong Resistance: 2,960 USD
Support Zone: 2,780 - 2,800 USD
Trade Signal:
📉 Sell Signal: If the price retests the 2,900 - 2,920 USD resistance zone and rejects downward, enter a short trade targeting 2,800 USD.
📈 Buy Signal: If the price holds support around 2,780 - 2,800 USD and starts moving up, consider a long trade targeting 2,900 USD.
👉 Confirmation: Use additional indicators like RSI, MACD, and volume to confirm the trade setup before executing.
GOLD - BEARISH SCENARIOHello Traders !
The GOLD price formed a falling rising wedge.
So, Let's expect the Bearish Scenario📉
if the market breaks the support level (2864 - 2882) and closes below that,
We will see a huge bearish move📉
__
TARGET: 2793🎯
Gold shorts are still at home next, and gold will continue to beIt is reasonable that gold rose in the early trading for risk aversion, but gold did not break through the resistance of 2877, but rose and fell. Then the rise of gold for risk aversion may be digested, and gold will continue to be short. Gold 2868-2875 can be directly shorted!
The 1-hour moving average of gold is still dead cross downward short arrangement divergence. Although the gold bulls seem to rebound strongly in the case of risk aversion, the situation has not been reversed yet. Gold will fall directly under the resistance of the moving average. Then the strength of gold bulls to continue to rise is not strong. Gold will continue to be short. Gold 2868-2875 can be directly shorted first.
The market changes rapidly. Gold bulls cannot turn the tide in the case of risk aversion. Then gold bulls may only be short-lived. Gold shorts will still be the main field in the future. Gold will continue to be short. However, gold should also pay attention to one thing today. If it does not fall for a long time, then the 1-hour moving average of gold may start to turn around, so it is necessary to give up the short first, and then readjust the thinking. If it can fall smoothly in the early trading, then gold shorts will continue to be the main field of shorts today.
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Gold price today: The decline continues!Dear traders! What do you think about OANDA:XAUUSD – Buy or Sell?
Yesterday, gold continued its downward trend, dropping $27 from its highest point in the previous session at $2,885 per ounce. On March 1, gold closed the week negatively at $2,858 per ounce.
The main reason for this sharp decline in gold prices was the strengthening US dollar. The USD Index surged to 107.66, its highest level in the past 10 days, as financial markets grew concerned over the US administration's aggressive trade policies.
Specifically, former President Donald Trump confirmed a 25% tariff on imports from Mexico and Canada, effective March 4. Additionally, he announced an extra 10% tariff on Chinese goods. This policy has fueled uncertainty in the market, pushing investors toward the USD as a safe-haven asset, which has negatively impacted gold.
XAUUSD ( GOLD ) | 1H | BUYDon't forget to press like if you want to receive updates of this analysis. 🚀
SIGNAL ALERT
BUY XAUUSD ( GOLD ) > 2869,0 or 2851,0
🟢TP1: 2880,0
🟢TP2: 2890,0
🟢TP3: 2951,0
🔴SL: 2828,0
RISK REWARD - 2,04
Thank you to everyone who supported me with likes.💙💙💙
Update gold today!Dear traders!
During the Asian session on Monday, gold is attracting some buyers, aiming for the $2,900 level. Geopolitical uncertainty surrounding the Russia-Ukraine conflict continues to support the precious metal while putting pressure on the US dollar, further aiding gold’s short-term recovery.
However, from a technical perspective, gold remains below the EMA 34 and EMA 89, indicating that the bearish trend is still in control. The key resistance zone at $2,892 - $2,895 could be a crucial area where sellers re-enter the market. If gold fails to break above this level, we may see a renewed downward move, reinforcing the dominance of the bears.
Gold Market Outlook: A Key Resistance AheadHello passionate traders, what are your thoughts on gold prices?
At the start of the trading session, gold is rebounding to recover from last week's losses. The precious metal has gained over 60 pips and is approaching the key resistance level of $2,873. This zone is crucial as sellers are eyeing this level for potential short positions.
This week, all eyes will be on February’s Non-Farm Payroll (NFP) report, set to be released on Friday morning. Other major events include the flash CPI estimate for the Eurozone and the U.S. ISM Manufacturing PMI on Monday, the ADP Employment Report on Wednesday, the U.S. ISM Services PMI, and the weekly jobless claims data on Thursday.
Despite the sharp drop in gold prices, this is merely a normal retracement and nothing to be overly concerned about. From a technical standpoint, gold was overbought as investors attempted to push it toward the $3,000/oz mark. A bullish momentum is expected to return soon.
Wishing you all a fantastic trading day!
Best regards!
Sorry, I choose to short gold in this round!!!Every time I write an analysis, I hope that my friends who read it can gain something. Gold fell again on Friday to a new low. Gold fell sharply again on Friday and hit a new low. In the 4H cycle, it bottomed out and rebounded due to the news at the end of the day. Although gold prices hit a low of 2832 in late trading, they ushered in a wave of rebound. However, because the price is still running in the middle of the Bollinger Bands and below the short-term 10 moving average, it has driven the short-term moving average downward to the 2866-2888 area. In the domain, other cyclical indicators maintain a short position, and the overall downward trend of Bollinger Bands intensifies. However, the macd indicator fast line turns upward, failing to give short sellers downward momentum, and the RSI indicator intentionally strengthens the upward potential above the 30 axis. Therefore, at the 4-hour level, the overall downward trend of gold prices after short-term correction can still be seen. As long as the rebound is not strong, gold still has room to fall. Then next week's opening will focus on the resistance near 2880, but as long as it is still under pressure and blocked below 2880, then gold can continue to be short. If gold breaks through 2880 strongly, then it is necessary to adjust its thinking. Pay attention to news changes over the weekend, and we will do further analysis on Monday.
Finally, whether you are a novice trader, or you want to maintain a stable trading win rate to get more generous returns, or you want to create a valuable and free life through trading, or you are now deeply troubled by losses, you can find what you need at the bottom of the article, and wish all of us all the best in trading! Have a good weekend, brothers!!!
GOLD MARKET ANALYSIS AND COMMENTARY - [March 03 - March 07]OANDA:XAUUSD this week were under pressure to take profits. After opening this week at 2,934 USD/oz, gold prices rose to 2,956 USD/oz, but then continuously dropped to 2,832 USD/oz and closed the week at 2,858 USD/oz. Thus, gold prices this week dropped sharply after 8 consecutive weeks of increases.
The reason why gold prices dropped sharply this week is because the USD continued to increase strongly compared to many other major currencies. Market sentiment changed slightly after the US announced the Personal Consumption Expenditure Index (PCE) for January 2025. Accordingly, PCE increased by 2.5% over the same period last year, thus down from 2.6% in December 2024 and in line with market expectations. Meanwhile, core PCE, excluding fluctuating food and energy prices, also increased 2.6% year-on-year, but down from 2.9% in December 2024 and in line with forecasts.
Notably, in the recent meeting, US President Donald Trump and Ukrainian President Volodymyr Zelensky had many disagreements and could not reach any agreement to contribute to an early end to the war between Russia and Ukraine. This is a factor that may increase gold's role as a haven, but it is unlikely to push gold prices up sharply next week, perhaps just a slight recovery before adjusting again.
There will be a lot of data released next week, but the US February non-farm payrolls (NFP) report will be of particular interest to investors. According to forecasts, NFP is expected to reach 156,000 jobs, compared to 143,000 jobs in January. If NFP reaches the forecast level, it will not affect the Fed's interest rate policy direction, unless NFP increases far beyond the threshold of 200,000 jobs. Therefore, NFP news is likely to have little impact on gold prices next week.
In addition, investors will also pay attention to the European Central Bank's (ECB) monetary policy decision, which could have an impact on gold prices next week. The ECB is expected to cut interest rates again next week, which could partially support the USD, thereby negatively impacting gold prices next week.
🕹SOME DATA THAT MAY AFFECT GOLD PRICES NEXT WEEK:
Next week, the market will focus on jobs data, with the US February non-farm payrolls report released on Friday morning.
Other key economic events include the Eurozone FMCG and US ISM manufacturing PMI on Monday, the ADP jobs report and US ISM services PMI on Wednesday, and weekly unemployment data on Thursday.
The other big event of the week is the European Central Bank's (ECB) monetary policy decision on Thursday, with many experts expecting the ECB to make another interest rate cut.
📌Technically, gold prices next week may continue to adjust, with the level of 2,790 USD/oz being an important support level. If next week's gold price stays above this level, it will increase slightly to 2,900 USD/oz. On the contrary, if gold prices fall below 2,790 USD/oz next week, there is a risk of a deeper correction.
Notable technical levels are listed below.
Support: 2,814 – 2,835USD
Resistance: 2,900 – 2,868USD
SELL XAUUSD PRICE 2951 - 2949⚡️
↠↠ Stoploss 2955
BUY XAUUSD PRICE 2739 - 2741⚡️
↠↠ Stoploss 2735
After falling for several days in a row, where should gold go?Gold technical analysis: After the gold opened in early trading, the price shot straight up, with the opening price at the 2858 line, which is a strong short-term support level. After rising in early trading, according to market inertia, there is a high probability that the European market will continue to rise. The strong pressure above is at the 2885 line. When the price touches this point for the first time, short selling can be carried out during the day. Since the opening of the morning session was directly pulled up sharply, the entry position for long positions today will obviously not be too low. However, it should be noted that since the rebound of 2832, the possibility of directly hitting a new low again today is extremely small, so the probability of a direct sharp drop in price is unlikely. However, don’t think about gold too simply. The short trend does not mean that it will continue to fall without a counter-tick. It can be found that before gold fell, it made two supports near 2890. If it falls below 2890 later, then 2890 will change from a support to a suppression position. In the short term, the upper side focuses on the resistance of 2880-2890, and the lower side focuses on the support of 2860-2850.
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XAUUSD: 3/3 Today's Market Analysis and StrategyGold technical analysis
Daily chart resistance 2892-2930, support below 2850
Four-hour chart resistance 2876-2892, support below 2832
One-hour chart resistance 2876, support below 2860
Gold news analysis:
Last Friday, gold technical pressure 2884 mark further ushered in a very weak unilateral adjustment downward trend, Asian, European and American markets successively under pressure to fall and fluctuate downward, the US market accelerated downward to break through the 2840 mark to reach 2832 and began to rebound, closing near 2860, closing with a decline for two consecutive trading days, short-term gold price encountered resistance at the 2950 mark ushered in a daily level adjustment, today's Asian market opened under the influence of weekend news, gold price quickly rushed up to pierce the 2876 mark, and then fell into a shock consolidation.
Gold operation suggestions: Today's upper short-term resistance is 2876-2892. Any rebound before the daily level breaks through and stabilizes at 2892 is a short-selling opportunity. Pay attention to the lower low support around 2825-30. Overall, rely on this range to participate in high selling and low buying, and wait patiently for key points to enter the market.
Sell: 2870near SL: 2875
Sell: 2892near SL: 2897
Use small size to control risk
XAU/USD SELLSLook for sells on the daily.
Areas of interest
TP 3 - 2,785
TP 2 - 2,834
TP 1 - 2,871
SL - 2,895
Gold Declines as USD StrengthensGold ended today’s trading session fluctuating around $2,858, retreating further from its record high and marking a decline of over 200 pips by the session’s close. The drop came as the US dollar remained near its two-week high, following the latest inflation data aligning with expectations. This reinforced the Federal Reserve’s cautious stance on rate cuts, limiting gold’s upside momentum.
Losses in the stock market exacerbated the downward pressure on gold, extending the sell-off that began after the metal hit a fresh all-time high earlier in the week.
On Friday, US Personal Consumption Expenditures (PCE) Price Index data showed a 0.3% increase in January, in line with expectations, following an unchanged 0.3% rise in December. Despite the release, the report did not significantly impact Fed rate expectations, meaning it failed to provide a catalyst for a gold rebound.
GOLD – Key Pivot Zone at 2,880! Breakout or Rejection?🔹 Market Overview
GOLD is trading at a key pivot zone (2,880), attempting to establish its next trend.
🔼 Bullish Scenario:
A 4H candle close above 2,880 could trigger a bullish continuation.
If buyers step in, the targets will be 2,895 → 2,905.
A strong breakout above 2,905 could extend gains toward 2,918+.
🔽 Bearish Scenario:
If GOLD fails to hold above 2,880 and faces rejection, we may see a drop toward 2,866 and 2,859.
A break below 2,859 could lead to a deeper decline, targeting 2,841.
📍 Key Levels to Watch:
Pivot Line: 2,880
🔼 Resistance: 2,895 | 2,905 | 2,918
🔽 Support: 2,866 | 2,859 | 2,841
⚡ Outlook & Trade Plan:
As long as GOLD holds above 2,880, the bullish case remains valid.
A 4H close above 2,880 strengthens the upside potential.
A rejection from 2,880 could confirm downside momentum.
⏳ Wait for confirmation before entering trades!
BEARS ARE TRAPPED - $2990's SOONAs illustrated, Im visualizing a strong beginning to a historical bullish MARCH.
On average in 15, 10, and 5 years, MARCH has been mostly bullish.
To anticipate a bullish march, FEB must make sense and leave a few clues that could indicate a healthy setup for a potential buy opportunity.
In this case, FEB made a natural correction toward the end of the month which makes total sense and it is completely appropriate and necessary to setup March for what COULD be next:
A STRONG BULLISH MARCH that could potentially take the yellow metal to see $3,000 USD/Oz for its first time in history.
The setup looks beautiful; with a bullish engulfing candle closing above previous candles, and such bounce having taken place below a major daily support and very near FEB's breaker block that served as a major support - trampoline level for the month (of February) to expand so strongly.
Market has grabbed liquidity at a discount price level, below the 50% retracement of the expansive move of FEB; yet another positive sign of a potential continuation to the upside since: THE TREND IS YOUR FRIEND .
I could be off in my timing by 1 week; maybe 2 AT MOST..
But there will be a continuation simply because the demand for gold just keeps rising with all the BS going on around the world + USA's insane tariffs THAT COME INTO EFFECT IN MARCH ... JOIN THE DOTS @!#$% ...
--
GOOD LUCK!
Gold Turning Bearish on H4Gold trading at 2866.xx
It failed to hold above suggested weekly levels 2953/2958 by making high that was expected weekly resistance on long term charts that achieved low of 2832 on last Friday.
Now as per H4 charts gold is changing bullish direction that started on Jan 2025 to corrective or sideways direction with expected resistance around 2907/2916 that limit the upsides upon test and correct gold further to 2839/2831 that is my initial Goal now.
Please note failing to hold 2831/2830 may open 2790/2756.
Buyers should work with cautions
Monthly, Weekly and Monday analysis for Nasdaq, Oil, and GoldNasdaq
The Nasdaq closed higher, finding support at the lower Bollinger Band on the weekly chart. Due to the sharp decline last week, the 20,500 to 20,300 range was a technical rebound zone.
On the monthly chart, February closed with a bearish candle, bringing the index below the 5-day moving average and forming a range with the 10-day MA. For March, the 3-day and 5-day moving averages will act as resistance, while the 10-day MA serves as support. Since the monthly MACD is still above the signal line, even if corrections occur this month, rebound potential remains, meaning traders should be cautious about chasing shorts aggressively.
On the weekly chart, the Nasdaq fell below the 20-week MA, accelerating the sell-off. The MACD continues to slope downward, keeping further downside potential open, but since the signal line is still above zero, the index may consolidate between the 3-week and 5-week moving averages, making a range-bound strategy effective this week.
On the daily chart, both MACD and the signal line have dropped below zero, confirming a bearish market structure. The 21,000 level was broken decisively with a large bearish candle, meaning that if price struggles to reclaim this level, further downside toward the 240-day moving average is possible. If the Nasdaq falls to the 240-day MA, traders should prepare for a potential technical bounce, as historically, this level has provided support. Reviewing moving average dynamics could be helpful for understanding this scenario.
On the 240-minute chart, Friday’s low produced a strong rebound, making the MACD's potential golden cross a key signal to watch. As long as the recent lows hold, buying opportunities may exist, but since the signal line remains far above zero, selling pressure may persist on any rallies. Traders should avoid chasing long positions and focus on range trading. This week, traders should keep an eye on China’s National People's Congress (NPC) on Tuesday and the U.S. Employment Report on Friday, as both events could increase market volatility later in the week.
Crude Oil
Crude oil closed lower within a narrow range, continuing its sideways movement. On the monthly chart, February closed with a bearish candle, causing the MACD to turn downward while still maintaining a range-bound structure. Although the MACD and signal line remain above zero, buyers are still attempting to hold support within this range. For now, oil should be traded as a large range-bound market.
On the weekly chart, last week’s doji candle suggests indecision, and this week, the MACD has crossed below the signal line, triggering a sell signal. However, since a weekly close is needed to confirm this, the possibility of a trend reversal remains open. If oil continues lower this week, the sell signal will be fully confirmed, but if price rebounds, last week’s doji candle could mark a reversal point. Key bullish catalysts include Trump’s potential tariffs on Canada and Mexico, as well as the possibility of stricter oil sanctions on Venezuela. Meanwhile, bearish factors include economic slowdown fears reducing oil demand.
On the daily chart, breaking above $70 remains the key bullish trigger, but since the MACD has yet to form a golden cross, confirming an end to the downtrend is premature. On the 240-minute chart, the MACD has formed a golden cross, indicating a potential recovery after a pullback. For now, traders should buy dips cautiously, but breaking above $70 remains the key factor for further upside confirmation.
Gold
Gold closed sharply lower, forming a large bearish candle. On the daily chart, gold has fallen from previous highs to the lower Bollinger Band, meaning that additional downside (overshooting below support) remains possible.
On the monthly chart, gold formed a doji candle, indicating uncertainty. If gold found support at the 3-day MA last month, this month, traders should watch for support at the 5-day MA, as it could provide a buying opportunity on pullbacks.
On the weekly chart, gold has fallen to the 5-week MA, meaning that it has entered a range-bound structure. Since the lower support levels are still open, traders should avoid chasing long positions at highs and focus on buying lower. The U.S. Employment Report is due on Friday, which could increase volatility for gold.
On the daily chart, while the MACD is declining, the signal line remains well above zero, meaning that even if prices fall, rebound attempts are likely. On the 240-minute chart, further downside toward the 240-day moving average remains possible, but traders should watch for bottoming signals and potential support. If the MACD forms a golden cross, a strong rebound could follow, so monitoring short-term momentum shifts will be key.
February marked a transition to a range-bound market after an extended uptrend, suggesting that March could be a period of consolidation or further downside extension. Geopolitical risks have increased since Trump took office, and market volatility is rising due to key global events. Traders should focus on risk management and avoid overexposure. Wishing you a successful start to March! 🚀
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XAU/USD Weekly Analysis XAU/USD Weekly Analysis with support and resistance levels tailored between $2,800 and $3,000:
XAU/USD Weekly Analysis: March 3–7, 2025
🔹 Overview:
Gold (XAU/USD) has entered a critical consolidation phase, trading between $2,800 and $3,000. The market remains sensitive to macroeconomic developments, including U.S. jobs data, Fed commentary, and geopolitical events.
🔹 Key Support Levels:
Immediate Support:
$2,835–$2,850: Critical support zone, aligned with the 38.2% Fibonacci retracement of the recent rally.
$2,800: Psychological support and a key structural level, reinforced by the 50-day SMA.
Major Support (Downside Breach Scenario):
$2,765–$2,780: Long-term trendline support from the 2024 lows.
$2,735: Key swing low; a break below here could signal a deeper bearish trend.
🔹 Key Resistance Levels:
Immediate Resistance:
$2,900–$2,920: Key consolidation range high and near-term target for bullish momentum.
$2,950: Previous week’s high and a critical barrier to further gains.
Major Resistance (Upside Breakout Scenario):
$2,975–$3,000: Psychological resistance and the upper bound of the bullish channel.
$3,075: Fibonacci 127.2% extension and a potential breakout target.
🔹 Technical Scenario Breakdown:
Bullish Case (Breakout):
Trigger: Fed dovishness or USD weakness.
Action: Break above $2,950 confirms bullish momentum.
Targets: $2,975 (psychological level), then $3,075 (breakout extension).
Bearish Case (Reversal):
Trigger: Strong USD or risk-on sentiment.
Action: Breakdown below $2,835 signals bearish shift.
Targets: $2,800 (key support), then $2,765–$2,735 (trendline and swing low).
Neutral/Range-Bound:
Range: $2,835–$2,950.
Action: Fade extremes (buy dips near $2,835, sell rallies near $2,950).
🔹 Price Action Drivers During the Week:
U.S. Jobs Data (March 7):
Weak NFP (<150k jobs) → USD sell-off → Gold rallies toward $2,950–$3,000.
Strong NFP (>250k jobs) → USD strength → Gold tests $2,835–$2,800.
Fed Commentary (March 5):
Hawkish tone → Gold pressured below $2,835.
Dovish tone → Rally toward $2,950+.
Geopolitical Surprises:
Escalations → Safe-haven surge → Gold breaches $2,975–$3,000.
De-escalations → Profit-taking → Drop to $2,800.
🔹 Technical Tools to Monitor:
RSI (14-day): Overbought above 70 indicates pullback risk; oversold below 30 signals potential rebound.
MACD: Bullish crossover above the zero line strengthens upward bias.
Volume: Confirm breakouts above $2,950 with rising volume.
📈 Summary:
Support: $2,835–$2,850 (critical), $2,800 (structural), $2,765–$2,735 (trendline).
Resistance: $2,900–$2,920 (immediate), $2,950 (key breakout), $2,975–$3,000 (psychological).
Catalysts: U.S. data, Fed commentary, and geopolitical factors remain key drivers.
Gold may drop to 2800, follow me and short gold!!Brothers, yesterday was "Black Friday". Gold went up and down, but it broke through many supports, so the trading rhythm next week will still be mainly shorting gold.
At present, gold stopped falling and rebounded after hitting around 2830, and finally closed at around 2858. Although it has recovered most of its lost ground, gold is not considered strong as long as it is below 2860, and the rebound can only be regarded as a technical rebound repair. Over the weekend, there was another unstable news from Russia and Ukraine. Gold may have room to continue its upward trend due to the influence of the news. However, I predict that even if gold continues to rebound, it will still encounter obstacles at 2880. Gold may have room to continue to rise with the help of the news, but I expect that even if gold continues to rebound, it will still be blocked at 2880. So in terms of trading, we first consider ambush gold short trading below 2880. If gold can fall below 2830, then gold will inevitably continue to the 2820-2810 area, or even 2800.
There is no luck in the market. We need more time to find opportunities and be good at seizing them. I spend a lot of time studying the market and making profits from it. I also make more detailed trading plans and trading signals based on the market every day. The article has a certain lag. In order to grasp the market dynamics and trading plans in time, you can follow the bottom of the article to master the wealth code and create your own wealth!
Next week's gold trend trading strategy:
Analysis of gold market trends:
The gold market showed an extremely complex trend this week. Since the plunge from the high of $2,950 last week, the market has repeatedly fallen and rebounded. It is worth noting that the gold price in the US market bottomed out and rose sharply on Friday. The US market also rose sharply after Tuesday and Wednesday this week. The US market also rose slightly on Thursday, and the US market rose strongly again yesterday. In this series of fluctuations, each time the key position is touched, it can trigger a rebound to varying degrees, which fully demonstrates the tenacious resistance of the bulls.
From the analysis of the market, the gold price experienced a sharp drop on Friday, and then rebounded strongly. The daily line finally closed with a medium-sized Yin line with a lower shadow of nearly 30 US dollars. In terms of the weekly line, it presents a large Yin line pattern, and a bearish engulfing pattern appears. A Yin line directly engulfs the previous two Yang lines, and successfully ends the nine-week continuous Yang trend. The monthly line is a medium Yang line, but the upper shadow is as long as 97 US dollars.
At present, the prospect of the Russian-Ukrainian peace talks is overshadowed, and the subsequent trends have attracted much attention. This is also one of the important driving factors for the rise in gold prices at the end of Friday. Looking ahead to next week, the United States will release non-agricultural data, and the eurozone will also announce interest rate decisions. In addition, US manufacturing data and the Federal Reserve Beige Book will also be released one after another, all of which will have a significant impact on the gold market.
After a sharp drop in gold this week, there is a need for a rebound correction in the short term. From the monthly line, the longer upper shadow line indicates that there may be a move to fill the upper shadow line in the early stage of the decline. The bearish engulfing pattern on the weekly line and the closing of the negative line after nine consecutive weeks of gains have significantly suppressed the bulls. However, the long lower shadow of the daily line on Friday shows that there is strong support below. On the 4-hour chart, after a short-term sharp drop, it has shown a serious oversold signal, so it is bound to usher in a rebound correction. The 5-day moving average and the 10-day moving average, which were originally used as support, have turned into pressure points for subsequent rebounds after being broken. It is expected that gold prices will face downward pressure again when they rebound and test these two moving averages.
Taking all factors into consideration, the impact of Trump's tariffs has been basically digested. In the absence of new tariff news, the relevant tariff news is likely to be regarded as a factor that induces more buying. Next, the focus will be on whether there will be any new news from the U.S.-led Russia-Ukraine peace talks over the weekend, as well as the release of U.S. non-agricultural data. From a technical perspective, gold is expected to rebound before the $2835-2840 range is broken next week. If the Russia-Ukraine conflict does not deteriorate further, the overall trend of gold is expected to be mainly high and then fall, and the high-level short-selling strategy can continue to be adopted in terms of operation. However, it should be noted that if the situation between Russia and Ukraine deteriorates further, the market trend may change significantly. The upper resistance levels are $2880-2885, $2890-2895, and the 5-day moving average and the 10-day moving average; the lower support levels are $2835-2840, $2805-2810, and $2785-2770.
GOLD I.T. Bottom WAVE 4 low is in place move to LONGThe chart posted is GOLD SPOT .I am Now moving to Bullish from my Bearish top of wave C or 3 . The Stop MUST be placed at the low we just saw . I will now project wave 5 of 5 of 5 target is 3031/3069 I will go with the LOWER of the two targets and would look for this TOP on march 10 to the 13th of march .in a super cycle peak .I will look for a major crash from this 5th wave top
