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Gold remains under pressure below the 200-day SMA, keeping the near-term outlook bearish.
π Momentum remains weak:
πΉ MACD stays in negative territory
πΉ RSI in the mid-30s signals continued selling pressure
Key levels:
πΉ Resistance: $4,229, then $4,355
πΉ Support: $4,026
A break below $4,026 could trigger further downside, while bulls need to reclaim $4,229 to ease bearish pressure.
#Gold#XAUUSD#Trading#TechnicalAnalysis#PreciousMetals
π‘ Gold stays below $4,200 as uncertainty surrounds a potential US-Iran deal.
Trump said a deal could be signed soon, while Iran denied that any final agreement has been reached. Meanwhile, a stronger USD and hawkish Fed expectations continue to pressure gold.
Gold remains under pressure after breaking below the key 200-day SMA and a descending channel, keeping the broader outlook bearish.
π Momentum remains weak:
πΉ MACD stays deeply negative
πΉ RSI is in oversold territory, suggesting downside may slow but the trend remains bearish
Key levels:
πΉ Resistance: $4,257, then $4,446
πΉ Support: Bearish trend remains intact below these resistance levels
Any rebound is likely to be viewed as a correction rather than a trend reversal unless Gold reclaims the 200-day SMA.
#Gold#XAUUSD#Trading#TechnicalAnalysis#PreciousMetals
Market watch:
πΊπΈ US May CPI data is due later, with annual inflation expected to rise to 4.2% from 3.8%.
π¨π¦ The Bank of Canada will announce its latest interest rate decision.
#CPI#Inflation#USD#Forex#Gold#Silver
DXY is primed for a major bullish breakout!
Strong US jobs data acts as the key catalyst.
Expect a short pullback early next week β perfect buying dips for big upside moves.
Key level to watch: DXY breakout above 100.64, next target at 105.73.
#DXY#USDOLLAR#ForexTrading#ForexAnalysis
Silver remains under pressure despite extending gains for a second straight session, with price still trading below both the 9-day and 50-day EMAs.
π Momentum remains weak:
πΉ RSI near 43 signals limited buying strength
πΉ Bearish trend remains intact while price stays below key moving averages
Key levels:
πΉ Resistance: $71.63 (9-day EMA), then $75.91 (50-day EMA)
πΉ Support: $61.01
A break above $75.91 could signal a bullish reversal and open the door toward $90.03 and $96.62. Failure to hold current levels may see Silver retest $61.01.
#Silver#XAGUSD#PreciousMetals#Trading#TechnicalAnalysis
WTI Oil remains under pressure as price continues to trade below the 20-day EMA, keeping the short-term outlook bearish.
π Momentum remains weak:
πΉ RSI at 42.8 stays below the neutral 50 level
πΉ Selling pressure persists despite a slowdown in downside momentum
Key levels:
πΉ Resistance: $92.16 (20-day EMA), then $94.87
πΉ Support: $85.42, then $78.88
A break below $85.42 could open the door for a deeper decline toward $78.88, while a close above $92.16 would be needed to signal a potential recovery.
#WTI#Oil#CrudeOil#Trading#TechnicalAnalysis
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Gold Outlook:
Gold continues to trade below the key 200-day SMA and within a descending channel, keeping the broader outlook bearish.
π Momentum remains weak:
πΉ MACD stays in negative territory
πΉ RSI near 33 signals strong selling pressure
Key levels:
πΉ Resistance: $4,437, then $4,555
πΉ Support: $4,242
A break below $4,242 could pave the way for further losses.
#Gold#XAUUSD#Trading#TechnicalAnalysis
Gold Slides Below $4,300, Bearish Trend Deepens
Gold fell to its lowest level since March as higher oil prices fueled inflation concerns and reduced demand for safe-haven metals.
The break below the key 200-day moving average signals that downside momentum remains intact.
#Gold#XAUUSD#Trading#Inflation
Technical Analysis:
AUD/JPY remains in an uptrend, trading comfortably above its 100-day SMA despite recent consolidation.
π Momentum remains neutral-to-positive:
πΉ RSI holds above 50
πΉ Broader bullish structure remains intact
Key levels:
πΉ Resistance: 114.80, then 115.00
πΉ Support: 114.00, then 113.20
A break above 114.80 could pave the way for a move toward the 115.00 level.
#AUDJPY#Forex#Trading#TechnicalAnalysis
Oil Pulls Back...
Brent crude eased to around $96 per barrel on Thursday after reaching $98 the previous day, but remains nearly 5% higher for the week.
A ceasefire agreement offered some relief to markets.
#Oil#Brent#WTI#MiddleEast#EnergyMarkets
The US Dollar gained ground on stronger-than-expected economic data and stalled US-Iran negotiations.
π Key events to watch:
πΉ Eurozone April Retail Sales
πΉ US Initial Jobless Claims
πΉ Friday's Nonfarm Payrolls (NFP) report
Gold continues to trade within a descending channel and below the 200-EMA, keeping the near-term outlook bearish.
π Momentum remains weak:
πΉ RSI stays below 50
πΉ MACD remains in negative territory
Key levels:
πΉ Resistance: $4,599, then $4,635
πΉ Support: $4,323
A break below $4,323 could signal further downside for gold.
#Gold#XAUUSD#Trading#TechnicalAnalysis