{"id":32194,"date":"2022-07-20T01:21:00","date_gmt":"2022-07-20T00:21:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=32194"},"modified":"2022-07-21T16:19:15","modified_gmt":"2022-07-21T15:19:15","slug":"gold-medium-term-technical-analysis","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/gold-medium-term-technical-analysis\/","title":{"rendered":"Gold Medium-term Technical Analysis"},"content":{"rendered":"\t\t
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Gold<\/a> has failed to stage a bounce, despite the US dollar index<\/a> moving lower for three straight now and being well away from its 20-year high that it set during the previous trading week.<\/p>

Traders looking for a buy signal in the yellow metal have little to go on as buy volumes appear light, and the rebound from below the $1,700 support level has so far been tepid at best.<\/p>

However, it should be noted that gold did test towards the bottom of multi-year range from March 2020 last week, and sellers failed to stage a meaningful breakthrough under this key technical area.<\/p>

If sellers continue to struggle to break under the $1,700 level then it is entirely possible that we could be about to see a major bounce back in the price of gold towards at least $1,790.<\/p>

Should we see a range break under the $1,700 level then the consequences for gold price is quite dire. Gold could tumble by a further $200.00 if a range break did occur according to technical analysis.<\/p>

Sentiment is dropping slightly now. The sentiment skew is getting less extreme, which is a positive force for a potential. recovery in the price of gold this week.<\/p>

Current sentiment metric towards gold show that traders are getting less bullish. The ActivTrader market sentiment tool shows that 65 percent of traders are bullish towards gold.<\/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

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Gold short-term Technical Analysis<\/strong><\/p>

The short-term technicals for the yellow metal are still very bearish, however, a glimmer of hope exists as significant amount of negative price divergence has started to form.<\/p>

Looking at the MACD price divergence, we could see the price of gold rallying towards the $1,750 level if the positive MACD price divergence starts to unwind.<\/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

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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

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Gold Medium-term Technical Analysis<\/strong><\/p>

The daily chart shows that gold has now officially tested towards the bottom of its price range. As you can see the top of the range is basically $2,050, while the bottom is slightly below $1,700.<\/p>

A break under the range would be a huge problem for gold and would indicate that a $300.00 down move could happen. It is very important that the price of gold continues to rebound now.<\/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

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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":"

Gold has failed to stage a bounce, despite the US dollar index moving lower for three straight now and being well away from its 20-year high that it set during the previous trading week. Traders looking for a buy signal in the yellow metal have little to go on as buy volumes appear light, and […]<\/p>\n","protected":false},"author":4,"featured_media":32224,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[28,40],"yoast_head":"\nGold Medium-term Technical Analysis - 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-medium-term-technical-analysis\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold Medium-term Technical Analysis Gold Medium-term Technical Analysis\" \/>\n<meta property=\"og:description\" content=\"Gold has failed to stage a bounce, despite the US dollar index moving lower for three straight now and being well away from its 20-year high that it set during the previous trading week.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/gold-medium-term-technical-analysis\/\" \/>\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=\"2022-07-20T00:21:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-21T15:19:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/07\/gettyimages-577972882.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"328\" \/>\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 Medium-term Technical Analysis Gold Medium-term Technical Analysis\" \/>\n<meta name=\"twitter:description\" content=\"Gold has failed to stage a bounce, despite the US dollar index moving lower for three straight now and being well away from its 20-year high that it set during the previous trading week.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/gold-medium-term-technical-analysis\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/gold-medium-term-technical-analysis\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Gold Medium-term Technical Analysis\",\"datePublished\":\"2022-07-20T00:21:00+00:00\",\"dateModified\":\"2022-07-21T15:19:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/youtrading.com\/en\/gold-medium-term-technical-analysis\/\"},\"wordCount\":371,\"publisher\":{\"@id\":\"https:\/\/youtrading.com\/en\/#organization\"},\"keywords\":[\"GOLD\",\"US DOLLAR INDEX\"],\"articleSection\":[\"Commodities\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/youtrading.com\/en\/gold-medium-term-technical-analysis\/\",\"url\":\"https:\/\/youtrading.com\/en\/gold-medium-term-technical-analysis\/\",\"name\":\"Gold Medium-term Technical Analysis - 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