Gold prices are holding firm above $3,000, with the metal last trading near $3,021.80, up 0.33% on the day. The broader trend remains bullish, supported by an ascending trendline and the 50-day SMA around $2,881, but price action has flattened out in recent sessions.
🔹 MACD is still above zero, but fading slightly—momentum may be cooling.
🔹 RSI at 65.63 is elevated but no longer overbought.
🔹 Price remains well above the 50-day and 200-day moving averages, reinforcing the uptrend.
Support Zones:
$2,960 (trendline support)
$2,880 (50-day SMA)
Resistance:
$3,040 (recent swing high)
$3,100+ psychological level
Gold remains in an uptrend, but the bulls may need a catalyst to extend the rally meaningfully from here. Watch for a trendline break or momentum divergence as early warning signs.
-MW
🔹 MACD is still above zero, but fading slightly—momentum may be cooling.
🔹 RSI at 65.63 is elevated but no longer overbought.
🔹 Price remains well above the 50-day and 200-day moving averages, reinforcing the uptrend.
Support Zones:
$2,960 (trendline support)
$2,880 (50-day SMA)
Resistance:
$3,040 (recent swing high)
$3,100+ psychological level
Gold remains in an uptrend, but the bulls may need a catalyst to extend the rally meaningfully from here. Watch for a trendline break or momentum divergence as early warning signs.
-MW
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