XAU/USD Forecast and GOLD analysis May 4, 2022


GOLD continue to move as part of a fall and a bear canal. At the time of publication of the forecast, the price of gold is 1865 dollars per troika ounce. Sliding average indicate the presence of a short -term bear’s trend. Prices broke the area between the signal lines down, which indicates the pressure from the sellers of the asset and the potential continuation of the fall from current levels. At the moment, it is worth expecting an attempt to develop growth and a test level of resistance near the area of ​​1885. Where to expect a rebound down and a continuation of a drop in gold price with a potential goal below the level of 1815.

XAU/USD Forecast and GOLD analysis May 4, 2022

An additional signal in favor of the fall of the XAU/USD quotes will be the test of the resistance line on the relative force indicator. The second signal will be the rebound from the upper boundary of the descending channel. The cancellation of the option of falling gold prices on May 4, 2022 will be a strong increase in the level of 1925. This will indicate the breakdown of the resistance area and the continuation of growth in the area above the level of 1965. It is expected to accelerate the fall of the XAU/USD quotes with the breakdown of the support area and closing the price under the level of 1845.

XAU/USD Forecast and GOLD analysis May 4, 2022

XAU/USD Forecast and GOLD analysis May 4, 2022 involves an attempt to test the resistance area near the level of 1885. Next, the continuation of the fall of the quotations with the goal of below the level of 1815. The cancellation of the option of falling prices for gold will be a strong increase in the cost of the asset in the markets and the level of levels of the level 1925. This will indicate a breakdown of the resistance in gold. In this case, it is worthwhile to wait for the continuation of the rise in gold prices with a potential goal above the level of 1965.


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