Short-Term Downtrends with Potential Long-Term Recovery
When analyzing the technical indicators of gold on the 4-hour chart, we observe that it is trading below its SMA (9) and SMA (20) values and the EMA values (9, 20, 50) generally indicate a downtrend. This suggests that the downtrend for gold may continue in the short term. The RSI, MFI, and Stoch %D indicators also indicate continued selling pressure. The BB-UP and BB-Low values appear to be narrowing overall. Such constriction is often considered a precursor to a significant move in the short term. I anticipate that the short-term first target may be the 1816.81 BB-Low value, followed by 1800.
On the weekly and monthly charts, we observe that the overall trend of the EMA, SMA, and WMA values is downward. However, the OBV indicator is generally on the rise. This suggests that gold might recover in the medium to long term. The medium-term first target could be 1850, followed by 1888.26 (SMA 50 value). In the long term, the first target could be 1920, followed by 1940.7 (SMA 20 value).
The general downtrends and negative technical indicators in XAGUSD (Silver), USM2, USIRYY, and USINTR signal continued exits from gold. This situation could positively affect the gold price.
However, these projections and predictions are a general assessment and are not definitive. Every investor should evaluate their risk profile and make investment decisions accordingly. Remember that investing is a risky activity and capital loss can occur. It is important to do your research before making an investment decision and consult an investment advisor if necessary.
On the weekly and monthly charts, we observe that the overall trend of the EMA, SMA, and WMA values is downward. However, the OBV indicator is generally on the rise. This suggests that gold might recover in the medium to long term. The medium-term first target could be 1850, followed by 1888.26 (SMA 50 value). In the long term, the first target could be 1920, followed by 1940.7 (SMA 20 value).
The general downtrends and negative technical indicators in XAGUSD (Silver), USM2, USIRYY, and USINTR signal continued exits from gold. This situation could positively affect the gold price.
However, these projections and predictions are a general assessment and are not definitive. Every investor should evaluate their risk profile and make investment decisions accordingly. Remember that investing is a risky activity and capital loss can occur. It is important to do your research before making an investment decision and consult an investment advisor if necessary.