March for the bears - GOLD
Gold price remains sidelined as buyers flirt with a convergence of the 21-day and 50-day Exponential Moving Average (EMA) near $1,848. However, bullish MACD signals and the bullion’s sustained bounce off the 200-day EMA keep the buyers hopeful of crossing the previous day’s top surrounding $1,858.
Following that, the February 09 swing high surrounding $1,890 and the $1,900 threshold could act as the last defenses of the Gold bears. On the contrary, the metal’s sustained trading below the stated EMA confluence of $1,848 needs validation from the 50% and 61.8% Fibonacci retracement level of the quote’s upside from November 2022 to February 2023, respectively near $1,840 and $1,812.
It’s worth noting that the Gold buyers remain hopeful unless witnessing a clear downside break of the 200-day EMA, close to $1,805 at the latest.
I'm surely that we may see bears for the month of march at least to 1750.
Following that, the February 09 swing high surrounding $1,890 and the $1,900 threshold could act as the last defenses of the Gold bears. On the contrary, the metal’s sustained trading below the stated EMA confluence of $1,848 needs validation from the 50% and 61.8% Fibonacci retracement level of the quote’s upside from November 2022 to February 2023, respectively near $1,840 and $1,812.
It’s worth noting that the Gold buyers remain hopeful unless witnessing a clear downside break of the 200-day EMA, close to $1,805 at the latest.
I'm surely that we may see bears for the month of march at least to 1750.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.