XAU/USD – Gold Weekly Analysis 04 April 2017

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CHARTING

The crucial points are:

1

The price of gold has maintained a neutral stance remaining at its highs, in the previous week. Investors expect more interest rate hikes from Fed this year, which is likely to provoke a large transfer of funds from stocks and gold to corporate bonds and treasury bills. The price tested several times the 1254.85 level of resistance, but without any success, with the large upward spike revealing the bulls’ weakness to move the price higher than the current levels.

Charting outcome: Neutral – Marginally bullish        

INDICATORS (Computerized T.A)

The crucial points are:

2

3

The indicators are signaling that a weak uptrend has occurred, which is possible to become weaker. The moving averages slopes have almost become marginally rising, while both the positive and the negative dynamic have fallen. The trend dynamic has marginally fallen by -6.52%, as well as the market’s volatility marginally falling by -7.49%. Finally, the oscillators have become marginally overbought.

Indicators outcome: Neutral – Marginally bullish      

CONCLUSION

The indicators and charting seem to confirm that the market is more likely to move in a neutral or marginally bullish way. If the price appreciates higher than 1254.85 level of resistance, the next resistance is possible to occur at the 1270.27 level. On the contrary, if the price retraces again lower than 1229.79 level, the next support could occur at the 1215.01 level.

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