As traders await the outcome of Russia and Ukraine’s next round of discussions, gold has stabilized in a range between $1915 and the 20 EMA at $1935. Recovering from the steep decline that took it from $2070 to $1900, gold continues its efforts to stabilize. The recent rise in Treasury rates has been the key negative trigger for gold, while geopolitical concerns have been the main positive catalyst.
The 1924.34 level of support and the 1928.09 level of resistance serve as the key support and resistance levels. Currently, the price is below the pivot point of 1926.02. The EMA10 is moving between both the EMAs of 200 and 100, indicating a bearish condition. Stochastic is moving in the low ranges. The RSI is moving toward the level of 30 and the ADX is showing a horizontal signal. The MACD histogram is in negative territory and showing a downward signal.

• There is resistance at 1928.09, followed by resistance at 1929.77 and 1931.84.
• There is support at 1924.34, Below, there is 1922.27 and 1920.59.

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.