# Gold hits monthly lows near $4970, then rebounds above $5000 in Monday’s Asian trading
# The US Dollar stalls its uptrend as markets turn cautiously optimistic on Strait of Hormuz reopening hopes.
# Technically, Gold closed the week below 21-day support-turned-resistance; RSI turns bearish.
# The US Dollar stalls its uptrend as markets turn cautiously optimistic on Strait of Hormuz reopening hopes.
# Technically, Gold closed the week below 21-day support-turned-resistance; RSI turns bearish.
Gold steadied in Asian trade, holding above key levels as markets focused on oil prices, the U.S.–Israel conflict with Iran, and upcoming central bank meetings.
Prices briefly fell below $5,000 but rebounded as easing oil prices reduced inflation concerns linked to the conflict.
The primary trend remains bullish; on the 4H chart, prices are moving within a range of 5150–4960.
Prices failed to break lower support and are now sustaining above the pivot of 5003, showing short-term recovery.
A morning star pattern is forming on the daily chart; a bullish close could support upside in the next few sessions.
For stronger bullish confirmation, the 12 EMA must cross above the 52 EMA; otherwise, the rise may remain a corrective move toward 5120.
R1=5180 R2=5400 S1=4960 S2=4880
Prices briefly fell below $5,000 but rebounded as easing oil prices reduced inflation concerns linked to the conflict.
The primary trend remains bullish; on the 4H chart, prices are moving within a range of 5150–4960.
Prices failed to break lower support and are now sustaining above the pivot of 5003, showing short-term recovery.
A morning star pattern is forming on the daily chart; a bullish close could support upside in the next few sessions.
For stronger bullish confirmation, the 12 EMA must cross above the 52 EMA; otherwise, the rise may remain a corrective move toward 5120.
R1=5180 R2=5400 S1=4960 S2=4880
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What you need to know on Wednesday, March 18:
# The US Dollar lost its firmness and is now on a two-day losing spree.
# It remained under pressure after comments from US President Donald Trump, informed that US NATO allies don’t want to get involved in the US military operation in Iran.
# The US Dollar lost its firmness and is now on a two-day losing spree.
# It remained under pressure after comments from US President Donald Trump, informed that US NATO allies don’t want to get involved in the US military operation in Iran.
Cryptonians
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Cryptonians
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