See also
28.05.2025 06:01 PM
Early in the American session, gold is trading around 3,306 within the bearish trend channel formed on H1 charts since May 23. The yellow metal is likely to continue its bearish cycle in the coming hours if the price consolidates below the 21SMA or below 3,310.
If its bearish cycle continues, we should expect gold to fall below 3,310. Then, it could reach the 6/8 Murray line at 3,281 and even fall to the bottom of the bearish trend channel around 3,270.
On the other hand, if the price consolidates above the 21SMA, the outlook could be positive, and we could buy with targets at the 7/8 Murray line at 3,360.
For confirmation of the bullish cycle, we should expect a break above 3,320. Then, gold could continue rising and reach 3,360 and even climb to the 8/8 Murray at 3,437.
The Eagle indicator is showing a negative signal, so we believe gold could continue falling in the coming days, reaching the level around 3,200.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
