As of 2022, the metals markets have begun on a very optimistic note, and this trend is unlikely to alter very soon. Global inflation is rising, supply is limited, demand is skyrocketing, and logistical bottlenecks are becoming more commonplace. All of this is resulting in a highly disruptive economic recovery from the epidemic that shows no indications of ending, which is putting pressure on commodity prices.
The 1822.45 level of support and the 1830.25 level of resistance serve as the key support and resistance levels. Currently, the price is below the pivot point of 1825.15. The EMA10 has crossed both the EMAs of 200 and 100, indicating a bullish condition. Stochastic is moving in the high ranges. The RSI is moving under the level of 70 and the ADX is not showing a clear signal. The MACD histogram is in negative territory but showing a rising signals.

• There is resistance at 1830.25, followed by resistance at 1832.95 and 1838.05.
• There is support at 1822.45, Below, there is 1817.35 and 1814.65.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.

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