Gold Prices End on Uncertain Footing as Ukraine Tensions Simmer
On the weekly setting, gold has left behind a Shooting Star candlestick pattern, showing signs of indecision following gains since earlier this year.
Ukraine geopolitical tensions cooled into the end of the week, resulting in a long upper wick on the weekly candle.
Further escalation could easily bring back upside momentum in the yellow metal, while cooling tensions may do the opposite.
Extending a turn lower would place the focus on rising support from the middle of 2021 before the 1750 inflection point comes in.
Otherwise, a daily close above the 2021 high exposes 1959.
XAUUSD
Ukraine geopolitical tensions cooled into the end of the week, resulting in a long upper wick on the weekly candle.
Further escalation could easily bring back upside momentum in the yellow metal, while cooling tensions may do the opposite.
Extending a turn lower would place the focus on rising support from the middle of 2021 before the 1750 inflection point comes in.
Otherwise, a daily close above the 2021 high exposes 1959.
XAUUSD