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From a technical perspective, gold continues to trade within a range formed since the beginning of the month. The movement follows a strong rebound from the key 200-day simple moving average (SMA), tested in March, which confirms that the long-term uptrend remains intact despite weakening momentum. The Relative Strength Index (RSI) stands at 47, near the neutral 50 mark, while the MACD shows a near-neutral reading, signaling consolidation rather than a trend reversal.
A drop below the $4700 level is likely to find support near the lower boundary of the range in the $4650–4600 level, where demand may increase. A decisive break below this zone could trigger stronger technical selling and lead to a deeper correction.
At the same time, resistance is located around $4750, followed by approximately $4800 and the $4865–4900 level, which corresponds to the upper boundary of the current range and the 50-day SMA. A breakout above this zone would confirm a resumption of the uptrend and open the way for a move above the psychological $5000 level.
*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।
