Gold Snaps a 4 Day Up Streak

The Daily View for Gold

  • At the time of this writing, XAUUSD’s price is down $-60.92 (-2.97%) from the day prior.
  • Gold has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
  • Divergence between XAUUSD’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in XAUUSD’s price.

Below is a daily price chart of Gold.


Featured Gold Idea From TradingView

Below is a trading comment entitled Technical and fundamental analysis for Gold – March 2022 you may find interesting:

READ ALL THE FUNDAMENTAL & TECHNICAL ANALYSES The tensions on a global scale are still very high and 2-weeks after the Russian invasion of Ukraine and countless sanctions against Russia, the war is starting to show major impact on all sectors of the financial market. Goldman Sachs sees gold price @2500 USD/oz by the end of 2022 “The last time that we saw all major demand drivers accelerate simultaneously was in 2010-2011 when gold rallied by almost 70 per cent. Given the material upward revision in investment and demand assumptions, we now upgrade our 3 /6 / 12-month gold targets from $1950/2050/2150 an ounce to $2300/2500/2500 per ounce,” wrote Mikhail Sprogis, Sabine Schels and Jeffrey Currie of Goldman Sachs in a recent note. Gold price highest since August 2022 In terms of SEK In terms of the Swedish Krona, the gold price has gained a lot in value in a short period of time. In the second week of March 2022, the gold price reached a new historical high. Gold’s price has spiked roughly 20% since the beginning of February. In terms of USD In terms of US dollars, the gold price almost touched the historical all-time high @2075 USD/oz, but did not break through it. In terms of EUR Because of the war in Europe, its currency euro has weakened a lot and for that reas…