Having made an important return by accepting the 1900 dollar level as a bottom, but not confirming this return, Ounce Gold is looking for an answer to the question of whether it will be able to clarify the expectations for the new week on the last trading day of the week. We can say that the decision phase continued between 1900 and 1950 in a process where we are following the central bank decisions and news flows about the Russia-Ukraine war, and therefore, the pricing behavior outside the relevant region should be followed in the new period.
If Ounce Gold wants to continue its positive trend view, in addition to its course above the 233-period exponential moving average 1902 level, permanent movements over the 1940-1950 region, where the 89-period exponential moving average is located, are needed for confirmation. However, with this condition, trend pricing behavior can be followed towards the barriers of 1970 and 1980, especially in 1960. The reaction to be given at the psychological 2000 level in such a pricing behavior can also be followed to answer the question whether the all-time peak is 2075 or the critical support level in the last period is 1900.
If Gram Gold wants to end its positive trend outlook, permanent movements are needed below the 233-period exponential moving average 1902 level. However, with this condition, pressure towards the supports of 1880 and 1870, especially in 1891, can be followed. In this type of pressure, the 1850 is a critical region that concerns both short and medium-term traders, but short-term sellers and medium-term buyers may be in a serious struggle in this region.
In summary: Ounce Gold continues its decision phase in the short-term outlook.
Major Level(s) of the Day: 1902 and 1950
After testing the 91.50 support with a downward trend yesterday, the crude oil price passed $95 in an effort to recover. During the day, the course of European and US stock markets and the Ukrainian agenda can be followed.
As long as the prices stay above the 93.50 – 94.00 support in the upcoming period, the upside outlook may be one step ahead. In possible rises, 96.00 and 96.50 levels can be targeted.
As long as the 93.50 – 94.00 support remains current in possible decreases, a new uptrend potential may occur. Therefore, it may be necessary to see 4-hour closures under this support for the continuation of the bearish desire. In this case, 93.00 and 92.50 levels may come to the fore.
In summary; As long as the prices stay above the 93.50 – 94.00 support in the upcoming period, the upside view may be in the foreground.
High of the Day: 93.50 – 94.00 region
