Gold prices advanced in Asian trade, marking a fourth straight gain as investors monitored the escalating Middle East conflict, while a firmer U.S. dollar limited further upside.
The primary trend remains bullish; on the 4H chart, prices continue forming higher highs and higher lows.
Prices are sustaining above the pivot level of 5333 and moving toward immediate resistance at 5400.
A decisive break above 5400 could trigger further bullish momentum.
The 12 EMA remains above the 52 EMA, confirming ongoing bullish strength in gold prices.
R1=5400 R2=5600 S1=5250 S2=5100
The primary trend remains bullish; on the 4H chart, prices continue forming higher highs and higher lows.
Prices are sustaining above the pivot level of 5333 and moving toward immediate resistance at 5400.
A decisive break above 5400 could trigger further bullish momentum.
The 12 EMA remains above the 52 EMA, confirming ongoing bullish strength in gold prices.
R1=5400 R2=5600 S1=5250 S2=5100
# Gold finds renewed Asian bids and retests $5230 early Wednesday after the heavy sell-off on Tuesday.
# The US Dollar stands tall amid escalating Middle East tensions and reduced dovish Fed expectations.
# Gold defends $5000 or 50% Fibo level after facing rejection at the 78.6% Fibo resistance at $5342 amid bullish RSI.
# The US Dollar stands tall amid escalating Middle East tensions and reduced dovish Fed expectations.
# Gold defends $5000 or 50% Fibo level after facing rejection at the 78.6% Fibo resistance at $5342 amid bullish RSI.
JUST IN: 🇺🇸 White House officially nominates pro-Bitcoin Kevin Warsh to be the new Federal Reserve Chairman
# Gold builds on Wednesday’s rebound and reverts to $5200 again early Thursday.
# The US Dollar recovers modestly amid Middle East escalation
# 21-day SMA holds amid bullish RSI; a daily closing above 61.8%
# The US Dollar recovers modestly amid Middle East escalation
# 21-day SMA holds amid bullish RSI; a daily closing above 61.8%
Currently, the RSI is around 49, which indicates neutral momentum . This means the market is neither strongly bullish nor strongly bearish at the moment.
If gold breaks and holds above 5200, it could signal the start of a new bullish move toward 5230–5250. Conversely, if price breaks below 5145, it could open the path for a bearish move toward 5120 or even 5090
If gold breaks and holds above 5200, it could signal the start of a new bullish move toward 5230–5250. Conversely, if price breaks below 5145, it could open the path for a bearish move toward 5120 or even 5090