On Wednesday (March 20), spot gold was trading below $2,160 per ounce at the beginning of the European market. Investors are cautiously awaiting the Federal Reserve's monetary policy statement. However, the market remains cautious about gold's near-term upside. If Powell makes dovish remarks again, gold is expected to usher in a new rally. But from a short-term perspective, according to the 4-hour chart, gold prices are currently trading around $2,155 per ounce, and although below the mildly bearish 20-period SMA, a deeper decline remains unclear. The longer-term moving averages continue to rise, but technical indicators remain at negative levels, lacking clear directional strength signals. Gold prices will continue to fluctuate within a narrow range. It is particularly important to grasp the rhythm at this time. The latest important support and resistance levels for gold prices: Support level: $2145.10; Resistance level: $2163.40; I am more inclined to go long at low prices, going long around $2150
Always pay attention to my signals to make the right choice from them. I will share trading strategies and trading ideas every day. Follow me in the channel at the bottom of the article to get detailed trading signals. I hope that with my help, everyone can make huge profits!
Trade active
⋅
Enter my channel to get the latest trading signals, making it easier for you to make profits
Trade active
⋅
The price of gold continues to fall and is about to bottom out
Trade active
⋅
Gold prices continue to fluctuate
Trade active
⋅
Wait for a good opportunity to buy
Trade active
⋅
Keep waiting for a good time to buy
Trade active
⋅
VIP clients who followed my signals have profited significantly