Gold prices remained in green

20 March, 2017

Gold prices remained in the green. The precious metal is in demand in the light of political risks such as Trump’s presidency, Brexit and elections in Europe.

Current situation

Gold prices were neutral staying in a flat on Friday. After the recent rally buyers preferred to consolidate their gains. The 4 hours chart showed that the price was trading around the 100 and 200 EMAs. The 100-EMA crossed the 200-EMA downwards. The 50 and 100 EMAs were neutral while the 200-EMA kept pointed higher in the same chart. The resistance is highlighted 1230, the support comes in at 1220 dollars per ounce.

The MACD histogram grew which indicates buyers’ strength. RSI consolidated within positive territory.

Trading recommendations

We still hold the view that gold prices will struggle to climb north to 1230 dollars per ounce.

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