See also
25.03.2025 03:00 PM
Early in the American session, gold is trading around 3,021, below the 21-SMA, within the bearish trend channel forming since March 19.
On the H4 chart, we can see that gold is under bearish pressure and is expected to continue trading within this channel in the coming days.
If the pattern breaks and consolidates above the 21-SMA and above 3,025, we could expect a further bullish movement. In this case, gold could reach 3,046 around 7/8 of the Murray and eventually, 8/8 Murray around 3,125.
Technically, the Eagle indicator is showing a negative signal. So, we will look for opportunities to sell whenever the gold price consolidates below the 21SMA, with the first target at 6/8 Murray located at 2,968. Finally, we could sell with a target at 2,926 (200 EMA).
Gold is still overbought. Therefore, our strategy will be to sell below 7/8 Murray with short-term targets at 5/8 around 2,890.
You have already liked this post today
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
