During Friday’s volatile trading day, gold futures were bolstered by lower Treasury rates before being dragged down by Omicron concerns. On Friday, U.S. Treasury bond rates closed lower, but off session lows, as investors reviewed the recent hawkish Federal Reserve position as the bank balances growing inflation with the economic toll of the Omicron coronavirus variety.
The 1802.09 level of support and the 1804.49 level of resistance serve as the key support and resistance levels. Currently, the price is below the pivot point of 1803.07. It has crossed both the EMAs of 200 and 100, indicating a horizontal condition, and is moving with a bullish bias in the ascending channel. Stochastic is moving in the low ranges. The RSI is moving toward the level of 70 and the ADX is showing a horizontal state. The MACD histogram is in positive territory.

• There is resistance at 1804.49, followed by resistance at 1805.47 and 1806.89.
• There is support at 1802.09, Below, there is 1800.67 and 1789.96.

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.