Baxia Markets
February 08, 2022

Gold profits in 6 out of the last 7 days

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The pair managed to break the resistance levels on the 50% and 38.2% Fibonacci retracements at $1,799 and $1,813 respectively, which indicates that the uptrend should continue at last in the short term.


The Bollinger bands are wide and they remain steady, the pair trades in between the bands, suggesting that the price is at a fair level. Volatility could be high in the upcoming sessions, or at least as high as we've seen these last few sessions.


Gold Feb 7th 2022


The relative strength index is at 53% which would allow the pair to continue moving upwards in the short-term, once it gets closer to the overbought status we might start seeing pullbacks, the price just exited the Ichimoku cloud which strengthens the long signals for this pair.


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precious metals, commodities, trading conditions, technical analysis, trading indicator

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