Gold Price Analysis: Where XAU/USD can go to once it exits swamp of technical lines – Confluence Detector
The price of gold has been somewhat limited to a narrow range just above $1,800. There are several technical lines explaining why XAU/USD stuck, but also bullish targets for the precious metal, once it loses its chains.
The Technical Confluences Indicator is showing that gold is mired between $1,804 and $1,806, which is a dense cluster including the Simple Moving Average 200-15m, the SMA 50-1h, the Bollinger Band 1h-Lower, the Fibonacci 23.6% one-day, the BB 15min-Lower, the BB 4h-Middle, the Fibonacci 23.6% one-week, and more. Read more…
Gold: Uptrend will start if it rises above 1817.8
An uptrend will start as soon, as the pair rises above resistance level 1817.8, which will be followed by moving up to resistance level 1829.8.
The downtrend may be expected to continue, while pair is trading below resistance level 1817.8, which will be followed by reaching support level 1801.8 – 1787. Read more…
Gold prices march-on above a key support structure as inflation expectations ramp-up
Gold has made a mark on the $1,800 level, holding the support structure above $1,786/90 on a retest and pulling in commitments from the bulls.
Inflation expectations and uncertainties remain the core fundamentals of the outlook.
We have seen risk markets improved on the back of promising vaccine results which tempered some of the bullishness out of gold momentarily. Read more…