The 50-day Exponential Moving Average (EMA) is closely aligned with the current price at $2,317.42, suggesting a potential equilibrium in market sentiment, while the 200-day EMA at $2,288.72 provides stronger baseline support. The market seems cautiously optimistic, remaining bullish above the $2,310.20 pivot point. A drop below this level could lead to a sharp sell-off, highlighting the delicate state of gold trading.
Arslan, a webinar speaker and derivatives analyst, has an MBA in Finance and MPhil in Behavioral Finance. He guides financial analysis, trading, and cryptocurrency forecasting. Expert in trading psychology and sentiment.