Gold technical analysis: Crawl sideways retains negative bug below SMAs

Gold although trading between 1,785 and 1,875 has been holding in a bigger buffer zone of 1,764-1,974, from the late months of the previous year. The simple moving averages (SMAs) are drawing closer together and are adopting a more horizontal bearing, which is endorsing a neutral tone in the precious metal. Yet, the commodity is exhibiting a slight preference southwards after a recent deflection off the 200-period SMA around 1,850. Furthermore, the falling Ichimoku lines are backing negative price action, while the short-term oscillators are transmitting signals to the downside.

The MACD, slightly below zero, is tussling with a levelling red trigger line, while the RSI is somewhat hovering in the bearish territory. Furthermore, the strong bearish charge in the stochastic oscillator is promoting price’s inclined downwards direction.

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Gold Price Analysis: XAU/USD bears still in control, $1,810 critical

The precious metal has been struggling to gain ground despite expectations for robust US stimulus – which is now high on the agenda after former President Donald Trump's trial has ended. Will additionl funds push XAU/USD higher?

Examining the four-hour chart is pointing to further losses rather than gains. Momentum is leaning to the downside and gold is is trading below the 50, 100 and 200 Simple Moving Averages.

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