Gold clinging to the 200 day M/A

Carol Harmer Charmer Trading

Gold remains stable for now, but the narrow trading ranges have quietly unwound the overbought scenario — leaving the market slightly oversold, yet without much downside momentum.

Main support: 200‑day M/A.
A break here signals trend change.
Weekly & Monthly charts support that risk.
Sellers could dominate if this level fails.

This is a wall of support that shouldn’t yield easily — but buyer beware still applies. Longer‑term technicals are flashing caution.

With such a tight range, Pivot Point analysis is worthless. This is where instinct and pattern recognition come to the fore. You need to feel this market — because right now, it’s a tug‑of‑war between buyers and sellers.

And history tells us:

When sellers win, it’s merciless and swift.

Author

Carol Harmer

Charmer Trading

Carol Harmer has over 39 years experience of analysing and trading the world's markets and is undoubtedly one of the most respected technical trader in the world today.

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