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Gold is trading around $5,010, rebounding above the psychological level of $5,000 and above the 21-day SMA. Gold has been consolidating around this area since March 15, so it is likely to resume its uptrend. For this to happen, we should expect consolidation above $5,020.
A drop below the secondary uptrend channel and a consolidation below $5,000 could change the outlook for gold, and we could expect it to reach the lower band of the downtrend channel around $4,912.
If gold continues to rise, it is expected to reach the 200 EMA as strong resistance around $5,101 and could even reach the top of the downtrend channel formed since March 10 around $5,125.
The outlook remains bullish for gold as long as the price trades above the psychological level of $5,000.
The Eagle indicator is showing a positive signal on the H1 chart, so we believe it could continue rising in the coming days to reach $5,220 and eventually the +1/8 Murray level around $5,318.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
