The gold daily chart signals a bullish trend, but analysts warn of short-term moving average resistance.

MeNews · 2026-04-01T15:08:55+00:00

RHB Research analyst Joseph Chai pointed out that the bullish momentum for NYMEX gold futures has strengthened, with gold prices breaking above $4,500 per ounce, but it may face selling pressure near the 20-day simple moving average.

MeNews

2026-04-01 15:08:55

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ME News消息，March 31 (UTC+8), RHB Research analyst Joseph Chai noted in a report that, based on the daily chart, the bullish momentum in gold futures on the New York Mercantile Exchange is accelerating. The analyst observed that the price of gold broke through the $4,500 per ounce resistance level in the most recent trading session. Chai said that the bulls are currently targeting the next resistance level. However, he added that the gold price may face strong sell-off pressure near the 20-day simple moving average (SMA), which is in a downward trend. Data from the London Stock Exchange Group shows that the 20-day moving average is currently at around $4,815.63 per ounce. (Jin10) (Source: ODAILY)

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