

The gold Futures 4h chart is showing a steadily rising trend with significant buying pressure accumulating since early November. The price movement focuses on testing the 4400 resistance level, with volume and MACD confirming potential upward momentum.
Caution is advised as traders keep an eye on global economic indicators that could impact gold prices, maintaining a cautiously bullish sentiment.
Recent candlesticks show a mix of small-bodied candles with wicks, indicating indecision around the 4380 level.
Previously observed bullish patterns, such as bullish engulfing, pushed the price higher at the beginning of December.
The trend is currently bullish, evidenced by higher highs and higher lows since early December.
The MACD line is crossing above the Signal line, suggesting a bullish crossover indicating potential upward momentum.
The histogram is turning positive, reinforcing the bullish sentiment and suggesting increasing momentum.
No significant divergences between MACD and price action are noted currently.
Volume has been relatively stable, with notable spikes correlating with price increases, supporting bullish moves.
A recent volume increase aligns with the price's upward push, indicating strong buying interest.
Spikes in volume might suggest institutional activity, especially during breakouts around 4360 to 4380.
Support is strong around 4360, which served as previous resistance.
Potential resistance lies around 4400, where the price has shown some hesitation to break cleanly through.
The recent breakout level appears around 4360, where previous resistance seems to have turned into support.
Consider buying on a sustained breakout above 4400 with confirmation of volume increase.
Look for selling opportunities if there’s a bearish reversal pattern near 4400 or a breakdown below 4360.
For existing long positions, hold above 4360 and watch for further bullish confirmation.



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Secured By SSL. Copyright © Seekapa. All rights reserved. 2024
Company Information: This website (www.seekapa.com.com/) is operated by Bluepine Ltd, a Seychelles investment firm, authorised and regulated by the Financial Services Authority of Seychelles with license number SD183. Bluepine Ltd is located at Suite 205, 2nd Floor, Waterside Property Limited, Eden Island, Seychelles
Risk warning: Contracts for difference (‘CFDs’) is a complex financial product, with speculative character, the trading of which involves significant risks of loss of capital. Trading CFDs, which is a marginal product, may result in the loss of your entire balance. Remember that leverage in CFDs can work both to your advantage and disadvantage. CFDs traders do not own, or have any rights to, the underlying assets. Trading CFDs is not appropriate for all investors. Past performance does not constitute a reliable indicator of future results. Future forecasts do not constitute a reliable indicator of future performance. Before deciding to trade, you should carefully consider your investment objectives, level of experience and risk tolerance. You should not deposit more than you are prepared to lose. Please ensure you fully understand the risk associated with the product envisaged and seek independent advice, if necessary. Please read our Risk Disclosure document.
Regional Restrictions: Bluepine Ltd does not offer services within the European Economic Area as well as in certain other jurisdictions such as the USA, British Columbia, Canada and some other regions.
Bluepine Ltd does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of any financial product. Bluepine Ltd is not a financial adviser.