In Wednesday's US trading session, gold prices unexpectedly rebounded following previous volatility, possibly due to the increase in the US dollar and bond yields. This led to a reduction in expectations for the Federal Reserve to cut interest rates in the near future.
On the 4-hour chart, the upward trend of gold remains clearly intact. The Simple Moving Average (SMA) continues to point strongly upwards, showing no signs of correction. Additionally, the Relative Strength Index (RSI) remains stable around the 60 level, indicating decreasing selling pressure. This suggests that gold prices may experience significant upward movement in the coming period.
On the 4-hour chart, the upward trend of gold remains clearly intact. The Simple Moving Average (SMA) continues to point strongly upwards, showing no signs of correction. Additionally, the Relative Strength Index (RSI) remains stable around the 60 level, indicating decreasing selling pressure. This suggests that gold prices may experience significant upward movement in the coming period.
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