WTI Price Forecast: 200-SMA on H4/trend line confluence near $95.00 holds the key

From a technical perspective, the black liquid is holding just above a dense support band despite weakening momentum and hovering around the 38.2% Fibonacci retracement level of the upswing in April. The 200-period Simple Moving Average (SMA) at $95.09 and the upward-sloping trend-line support around $95.49 sit below the current price, still underpinning the broader uptrend.

However, the Relative Strength Index (RSI) is near 36, and a negative Moving Average Convergence Divergence (MACD) reading suggests bearish pressure is building. This,

Gold Price Shows Mixed Signals – Analysis

Gold declined in its recent intraday trading, amid the dominance of a short-term corrective bearish trend, while negative pressure continues due to trading below EMA50, which increases the negative pressure on the price.

On the other hand, the price remains stable above the key support level of $4,500, signaling the presence of solid positive momentum limiting the losses, especially with the emergence of positive signals from the relative strength indicators after offloading the overbought conditions, giving it greater ability to show positive behavior in the near term.

Gold (XAU/USD) remains on the back foot heading into the European session on Friday, though it lacks follow-through selling and holds above the $4,500 psychological mark. The US Dollar (USD) holds steady near a six-week high, touched on Wednesday, amid hawkish Federal Reserve (Fed) expectations. Apart from this, mixed signals over a potential US-Iran peace deal benefit the Greenback's reserve currency status and turn out to be a key factor that undermines demand for the commodity.

for more updatehttps://t.me/fZRSUIAnrZ83YjU0

Gold declined in its recent intraday trading, amid the dominance of a short-term corrective bearish trend, while negative pressure continues due to trading below EMA50, which increases the negative pressure on the price. Read More Here https://t.me/gold_tradingrobots

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