gold prices are consolidating within a range of $2,900 to $2,932 per ounce, maintaining support above the critical psychological level of $2,900. This consolidation phase suggests a potential buildup for a directional move.
Technical Analysis:
On the H1 timeframe, immediate support is identified at $2,911 per ounce & 2902-2900. Sustaining above this level could...
Gold has posted three consecutive sessions of gains this week as markets react to a combination of weak economic data, prolonged trade tensions, and resurging geopolitical risks.
U.S Economic Data Signals Slowdown
The latest U.S economic reports continue to point toward a weakening outlook. February’s ADP Non-Farm Employment Change came in at just 77,000,...
Technical Analysis: Gold Eyes $2,950 Resistance
On the H4 chart, gold has rebounded from $2,834, with the RSI climbing above 50 and the MACD showing bullish momentum. Key resistance is at $2,950—breaking above this level could open the door to $3,000. Meanwhile, support lies at $2,880, aligning with the 50-period SMA. A drop below this level may trigger a...
