π¨ Daily GOLD Forecast – 18.3.2024
Based on the analysis of XAU/USD on the 1-hour chart, the market direction is unclear. Oscillators indicate neutrality but lean towards buying, while moving averages and pivot points signal a selling bias. Without a specific forecast for gold, it's crucial to monitor key support and resistance levels for market direction confirmation. The probability of decline is 60%, while the probability of growth is 40%.
π¨ Daily GOLD Forecast – 14.3.2024
An additional indicator supporting the upward movement in GOLD prices would involve testing the support line on the relative strength index (RSI). Another sign would be a rebound from the lower boundary of the bullish channel. Revoking the option to increase Gold prices on March 14, 2024, would result in a price decline and a breach of the 2105 level. This would signify a breakdown of the support zone, leading to a sustained decrease in asset prices towards the area below the 2065 level. Anticipate a surge in the growth of GOLD prices upon surpassing the resistance zone and achieving closing prices above the 2255 mark.
It anticipates an effort to initiate a price correction and examine the support area around the 2135 level. Furthermore, there would be continued growth in the quotes of the precious metal, targeting a level above 2245. The cancellation of the option to raise Gold prices would lead to a decline in the asset's value in the markets and a breach of the 2105 level. This would indicate a persistent decline in the price of Gold, potentially targeting below the 2065 level.
π¨ Daily GOLD Forecast – 13.3.2024
Another indication supporting the rise in XAUUSD rates would be a trial of the support line on the relative strength index (RSI). A secondary indication would occur with a bounce from the lower boundary of the bullish channel. The annulment of the possibility of Gold price elevation on March 13, 2024, would entail a price decline and a breach of the 2105 level. Such an event would signify a breakdown of the support zone, leading to a sustained decline in asset rates towards the region below the 2055 level. Anticipate a surge in the upward movement of XAUUSD rates upon surpassing the resistance zone and achieving closing prices beyond the 2215 mark.
Envisioning an endeavor to initiate a price correction and assess the support zone around the 2150 level. Subsequently, there would be a continuation of the upward trend in the precious metal quotes, aiming for a level above 2265. If the option to raise Gold prices is revoked, there would be a decline in asset value across markets, accompanied by a breach of the 2095 level. Such a scenario would imply a persistent downtrend in Gold prices, potentially reaching a target below the 2045 level.
π¨ Daily GOLD Forecast – 12.3.2024
An additional indication favoring an increase in XAU/USD rates would be the examination of the support line on the relative strength index (RSI). Another signal would be a bounce back from the lower boundary of the bullish channel. If there's a reversal in plans to boost Gold prices on March 12, 2024, resulting in a decline and penetration of the 2095 level, it suggests a breakdown in the support zone, leading to a sustained drop in asset prices towards the vicinity below 2045. Anticipate a surge in the growth of XAU/USD rates following a breach of the resistance zone, with closing prices surpassing the 2215 mark.
It's assumed there will be an effort to initiate a price correction and test the support region around the 2150 level. Additionally, expect ongoing expansion in the quotes of the precious metal, targeting a level above 2265. Should the plan to hike Gold prices be scrapped, it would lead to a devaluation of the asset in the markets and a breach of the 2095 level, indicating a continued downtrend in the price of Gold, possibly targeting below the 2045 level.
π¨ Daily GOLD Forecast – 11.3.2024
The market has formed an inside bar. The price is moving sideways within the range of the 4-hour candle. Looking at the 1-hour timeframe, it appears to be forming a triangle. I expect the market to remain stable until tomorrow, as there are no significant news expected today.I anticipate the price to rise above the high of the 4-hour candle, potentially creating a false signal, followed by a bearish move from the resistance at 2200. If the price closes near the previous day's low, there is a high probability of a market retreat.
π¨ Daily GOLD Forecast – 8.3.2024
Based on technical indicators, #XAUUSD shows a mixed sentiment. While some oscillators signal selling pressure, moving averages and pivot points suggest a bullish trend. With oscillators in neutral territory and moving averages indicating a buy, caution is advised. Confirmation from further price action is essential before considering positions. Probability favors a slight upward movement, but traders should await clearer signals.
π¨ Daily GOLD Forecast – 7.3.2024 (Update)
Technical analysis for GOLD indicates a mixed outlook. Moving averages signal a bullish trend, supported by buy indications from pivot points. However, oscillators show neutrality, with two suggesting a sell. Market direction leans towards buy, but caution is advised. Potential scenarios include a sell if support at 2055 breaks or a buy if resistance surpasses 2120. Probability favors an upward trend at 70%.
π¨ Daily GOLD Forecast – 7.3.2024
An additional indicator supporting a rise in GOLD prices would be testing the support line on the Relative Strength Index (RSI). Another signal would be bouncing back from the lower boundary of the bullish channel. If Gold prices fall on March 7, 2024, breaking below the 2055 level, it would signify breaching the support area and continued decline to below 1985. Anticipate an accelerated growth in GOLD quotes if resistance is breached, closing above 2120.
Assuming an attempt to correct prices and test support around the 2085 level. Furthermore, expect continued growth in non-ferrous metal quotations aiming above 2205. A decline in Gold asset value in the markets, breaking below the 2055 level, would cancel the option for price increase, indicating ongoing price decrease with a potential target below 1985.
π¨ Daily GOLD Forecast – 6.3.2024
Based on GOLD analysis, oscillators show a mixed sentiment, with most neutral and some indicating buying signals. Moving averages suggest a bullish market, while pivot points hint at a neutral to bearish outlook. No specific gold forecast is available. Traders should exercise caution but consider buying positions given the overall positive bias, awaiting confirmatory price action for both buying and selling scenarios.