Gold technical analysis and trading strategies

Now that gold has exceeded $2,330, the release of data on the number of initial jobless claims in the United States for the week ending April 20 will have an impact on gold. After the data was released, the price of gold fluctuated rapidly.
On Thursday, the United States will release preliminary data on first-quarter gross domestic product (GDP), which is expected to grow at an annualized rate of 2.5% in the three months to March. Gold prices are trading between the 20-period moving average and below the 100-period moving average, with the former accelerating below the latter, often seen as a signal of increasing selling pressure. Meanwhile, technical indicators remain negative, the momentum indicator is rising, and the relative strength index (RSI) is consolidating around 43.

If gold prices break above $2,343.00, this will halt the bearish correction and push gold prices back to the main bullish trajectory.
The latest important support and resistance levels for gold prices:
Support levels: $2310.00; $2295.20; $2282.90
Resistance: $2343.30; $2361.55; $2372.90

Expectations for gold prices today are mostly mixed.
Trading idea: Go short after gold rebounds and go long after it falls.

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Gold prices are now rebounding higher after hitting a low of $2,313

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Go long below $2320,
Bulls are profiting

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Gold surged to $2,344 and has now fallen back to $2,330 levels

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Now the price of gold has dropped to around $2325, and it is perfect to make a profit by shorting above 2340.

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The price of gold is now trading within a narrow range of $2,330. We can wait and see how the market changes before trading.

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The price of gold is rising steadily and can wait for it to reach a high point and fall back.

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Now that the market has closed, we can take a break and wait for the right opportunity to trade. Today's trading harvest is good, reaching 17K. I believe tomorrow will be better, come on!

Trade aktif:

The price of gold is fluctuating nearby, and the upper limit of today's rise may exceed $2,345