Baxia Markets
February 22, 2022

Gold rises as tensions between Ukraine and Russia continue

technical analysis top header -01

The precious metal reached its highest level in nine months, it is on a nine-day winning streak that could continue as the tensions between Russia and Ukraine continue to advance, based on technical analysis the price should come down very soon, but the fundamental events have far more impact on the price than the technical aspects right now.


The Bollinger bands are very wide and volatility would continue to be high, the price trades very close to the upper band, suggesting that the price is relatively high, the pair could reach the $1,920s level in the next sessions if the bands continue to open up.


Gold Feb 21st 2022


The relative strength index is 72% which is overbought, from a technical stance, the pair should be pulling back very soon; however, as we mentioned before, fundamentals have a higher impact on the price, we have seen Gold stay overbought for a few sessions in the past, at this point the RSI would not stop the surge of the precious metal,


We love to hear new ideas from traders and want to know what you think! 


If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.


Open Live Account  


Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 


Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.

Subscribe by Email