Baby Zone: post #55708 — TG.ME

The Relative Strength Index (RSI) indicator on the daily chart fell short of clearing the 50 neutral level, and Gold’s break above the descending trend line and the 20-day Simple Moving Average (SMA) on Thursday failed to attract technical buyers. The $3,950-$3,920 area stays as a key technical support, where the lower limit of the descending triangle formation and the beginning point of the November-February trend align. If Gold breaks below this region, $3,800 (static level, round level) could be seen as the next bearish target ahead of $3,720 (static level). On the upside, $4,185 (50-day SMA) could be seen as the next resistance level in case Gold manages to confirm the $4,060-$4,070 (20-day SMA, descending trend line) area as support. If the bullish momentum builds up afterward, $4,240 (Fibonacci 78.6% retracement of the November-February uptrend) could be seen as an interim resistance level before $4,380 (static level).