{"id":25701,"date":"2022-04-14T07:40:00","date_gmt":"2022-04-14T06:40:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=25701"},"modified":"2022-04-14T10:20:25","modified_gmt":"2022-04-14T09:20:25","slug":"gold-technical-analysis-traders-turn-bearish","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/gold-technical-analysis-traders-turn-bearish\/","title":{"rendered":"Gold Technical Analysis &#8211; Traders Turn Bearish"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"25701\" class=\"elementor elementor-25701\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-79d79a8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"79d79a8\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5431a85\" data-id=\"5431a85\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-eeef8f8 elementor-widget elementor-widget-text-editor\" data-id=\"eeef8f8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The price of <a href=\"http:\/\/bit.ly\/2ZsFzPL\" target=\"_blank\" rel=\"noopener\">gold<\/a> is closing in on the $2,000 resistance level, following another U.S. inflation report that ran hot. Both the yellow metal, <a href=\"http:\/\/bit.ly\/319C7df\" target=\"_blank\" rel=\"noopener\">silver<\/a>, and <a href=\"https:\/\/bit.ly\/34uwQnY\" target=\"_blank\" rel=\"noopener\">copper <\/a>rallied yesterday\u2019s PPI report.<\/p><p>The U.S. producer price index for March came in at up 1.4% from February and compares to the forecast for up 1.1%. Year on year, PPI was up 11.2%, which is a record reading for the report.<\/p><p>Moreover, on Tuesday the U.S. consumer price index for March was the highest reading in over 40 years, at up just over 8% year-on-year. Although it was not as high as some economists and the market had feared.<\/p><p>With PPI reaching double-digits gold rallied due to its place as an inflation hedge. From a technical perspective if gold can break and hold above the $2,000 level, and look rock-solid, we could well see a new high coming for 2022.<\/p><p>Current sentiment metric towards gold show that traders have flipped to bearish, which is a good sign for further gains. The ActivTrader market sentiment tool shows that 58 percent of traders are bearish towards gold.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p><p>While this bearish sentiment bias is in play, it is mildly very bullish for gold price that after retail have, in the majority, remained long towards gold during the last few months.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1f6c6a4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1f6c6a4\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ca8f6ac\" data-id=\"ca8f6ac\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3f7c35d elementor-widget elementor-widget-image\" data-id=\"3f7c35d\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2ZsFzPL\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"448\" height=\"167\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/04\/GOLD-CHART-2.jpg\" class=\"attachment-large size-large wp-image-25706\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e014cac elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e014cac\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fb3fcaf\" data-id=\"fb3fcaf\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7955c8c elementor-widget elementor-widget-text-editor\" data-id=\"7955c8c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>For me, the current sentiment bias towards gold suggest that gold can start to rally as the majority of traders are now bearish towards the metal, which is typically a great sign for further upside.<\/p><p><strong>Gold short-term Technical Analysis<\/strong><\/p><p>The short-term technicals for the yellow metal show that a large head and shoulders pattern has been invalidated, which is technically bearish and could sparked further price losses in the yellow metal.<\/p><p>Looking at the four-hour price chart, the size of the bearish price pattern is pointing towards a coming price rally due to the $2,020 level due to the overall price projection.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-80a27b9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"80a27b9\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1144f69\" data-id=\"1144f69\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-198fe31 elementor-widget elementor-widget-image\" data-id=\"198fe31\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2ZsFzPL\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"936\" height=\"519\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/04\/GOLD-4H-2.jpg\" class=\"attachment-large size-large wp-image-25707\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1c4261fc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1c4261fc\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7b4fef\" data-id=\"7b4fef\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fc83c14 elementor-widget elementor-widget-text-editor\" data-id=\"fc83c14\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/2ZsFzPL\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-602e86c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"602e86c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9ce82ed\" data-id=\"9ce82ed\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8a1c3ae elementor-widget elementor-widget-text-editor\" data-id=\"8a1c3ae\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>Gold Medium-term Technical Analysis<\/strong><\/p><p>The daily chart shows that gold remains a strong buy while trading above the $1,880 level, after bulls rallied the price above a massive wedge pattern.<\/p><p>With the bullish breakout we could easily see gold price tackling $2,000 again. If the technical situation becomes worse under the wedge, I would expect that the price of gold could hit $1,850.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-33f34cd elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"33f34cd\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d0fe612\" data-id=\"d0fe612\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7171192 elementor-widget elementor-widget-image\" data-id=\"7171192\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2ZsFzPL\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"936\" height=\"518\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/04\/gold-1d-2.jpg\" class=\"attachment-large size-large wp-image-25708\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-73f31df9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"73f31df9\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-24b65c23\" data-id=\"24b65c23\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1550a9c3 elementor-widget elementor-widget-text-editor\" data-id=\"1550a9c3\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/2ZsFzPL\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The price of gold is closing in on the $2,000 resistance level, following another U.S. inflation report that ran hot. Both the yellow metal, silver, and copper rallied yesterday\u2019s PPI report. The U.S. producer price index for March came in at up 1.4% from February and compares to the forecast for up 1.1%. Year on [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":25703,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[109,28,101,49],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gold Technical Analysis - Traders Turn Bearish - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/gold-technical-analysis-traders-turn-bearish\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold Technical Analysis - Traders Turn Bearish Gold Technical Analysis - Traders Turn Bearish\" \/>\n<meta property=\"og:description\" content=\"The price of gold is closing in on the $2,000 resistance level, following another U.S. inflation report that ran hot. Both the yellow metal, silver, and copper rallied yesterday\u2019s PPI report.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/gold-technical-analysis-traders-turn-bearish\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-14T06:40:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-14T09:20:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/04\/zlataky-cz-bN3KYPiAd8k-unsplash.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"427\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Gold Technical Analysis - Traders Turn Bearish Gold Technical Analysis - Traders Turn Bearish\" \/>\n<meta name=\"twitter:description\" content=\"The price of gold is closing in on the $2,000 resistance level, following another U.S. inflation report that ran hot. 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