Gold is trading around $47,444, rebounding after reaching the 7/8 Murray level and facing downward pressure as it remains within a secondary downtrend channel formed since April 16.
Gold may struggle to continue rising in the coming hours as it faces strong resistance around $4,750; below this level, downward pressure could emerge, and we could expect gold to retreat to $4,715 or $4,667.
A decisive break below $4,687 could accelerate gold's downward movement, and we could expect it to reach the lower band of the downtrend channel around $4,585.
Conversely, a decisive break above $4,779—where the 200 EMA and 21 SMA are located—could signal a shift in the outlook, and we could expect gold to recover, potentially reaching $4,860 and even the upper band of the uptrend channel formed since early April around $4,935.
The Eagle indicator is showing a positive signal, and as long as the price of gold remains above $4,687, the outlook could be positive, and we could look for buying opportunities in the coming days.
LINKS RÁPIDOS
ForexMart is authorized and regulated in various jurisdictions.
(Reg No.23071, IBC 2015) with a registered office at First Floor, SVG Teachers Co-operative Credit Union Limited Uptown Building, Corner of James and Middle Street, Kingstown, Saint Vincent and the Grenadines
Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.
Contate-nos 
