Friday 5th March 2021: Technical Outlook and Review
Looking at the weekly chart, we can see that prices broke our ascending trend line and key support level at 1.20000, where we could see a further downside before prices reach the next support target at 1.16000, which coincides with graphical swing low support level.
Thursday 4th March 2021: Technical Outlook and Review
On the weekly timeframe, gold pushed lower breaking previous supports. Price has also broken below long term moving average. Price could very well ride the bearish momentum and drift lower towards 1670 support which is in line with key 61.8% Fibonacci retracement level.
Wednesday 3rd March 2021: Technical Outlook and Review
On the weekly timeframe, gold pushed lower breaking previous supports. Price has also broken below long term moving average. Price could very well ride the bearish momentum and drift lower towards 1670 support which is in line with key 61.8% Fibonacci retracement level.
Tuesday 2nd March 2021: Technical Outlook and Review
Looking at the weekly chart, we can see that prices are approaching the support area of our ascending channel at 1.200, which coincides with the 50% Fibonacci retracement and 78.6% Fibonacci extension.
Monday 1st March 2021: Technical Outlook and Review
Looking at the weekly chart, we can see that prices are approaching the support area of our ascending channel at 1.200, which coincides with the 50% Fibonacci retracement and 78.6% Fibonacci extension.
Friday 26th February 2021: Technical Outlook and Review
On the H4 timeframe, prices are facing bullish pressure from our support at 1.20941, in line with our graphical swing low support area and 50% fibonacci retracement.
Thursday 25th February 2021: Technical Outlook and Review
Looking at the weekly chart, we can see that prices are testing the support area of our ascending channel at 1.200, which coincides with the 50% Fibonacci retracement and 78.6% Fibonacci extension.
Wednesday 24th February 2021: Technical Outlook and Review
On the H4 timeframe, prices are facing bullish pressure from our support at 1.21362, in line with our graphical overlap support area and 23.6% fibonacci retracement.
Tuesday 23rd February 2021: Technical Outlook and Review
On the weekly timeframe, gold is still holding above long term moving average support and tested 1764 support, above which there could be a possibility of a bounce reaction.
