Evening Technical Update for Gold – July 11, 2025
Adapted from the original article by Economies.com
Overview:
During the July 11, 2025 trading session, gold prices experienced a slight upward movement, confirming continued bullish momentum following a period of consolidation. The asset continues to trade within a well-established ascending channel, and technical indicators confirm that the bull trend is still in force in both short- and medium-term time frames.
This analysis aims to provide a comprehensive update of price action, key technical levels, and prevailing market sentiment. The article draws heavily upon technical perspectives originally reported by Economies.com and authored by their analytical team. The following is a detailed interpretation and expansion of that report, extending the analysis to over 1000 words for a deeper understanding of gold’s current trajectory.
Technical Price Action on July 11, 2025
– Gold prices made modest intraday gains during the evening session, closing near $2,415 per ounce.
– While the asset experienced volatility throughout the global trading day, it remained within range-bound levels, consolidating recent gains from earlier in the month.
– Prices hovered close to a primary resistance zone at $2,430, which has yet to be tested thoroughly today but remains within reach.
The overall sentiment in the market remains bullish, with several indicators and chart patterns supporting the continuation of the prevailing trend.
Detailed Key Technical Observations
1. Uptrend Channel
– Gold continues to move inside a rising price channel that has been intact for several weeks.
– Price movements have consistently respected both the upper and lower boundaries of this channel, suggesting strong support and consistent bullish sentiment.
2. Moving Averages
– The 50-day exponential moving average (EMA) lies beneath the current price at approximately $2,375 and is tilting upward, offering dynamic support to short-term momentum.
– The alignment of shorter-term moving averages above the longer-term ones indicates a continued positive bias.
– The 100-day EMA is positioned further below near $2,320, serving as a medium-term support level in case of corrective pullbacks.
3. Relative Strength Index (RSI)
– The RSI indicator remains within bullish territory, currently reading around 65 on the daily chart.
– This value suggests that while there is positive momentum, conditions are not yet overbought, leaving room for further appreciation in price.
4. MACD Indicator
– The MACD histogram is still positive and lies above the signal line, reinforcing the bullish momentum.
– No bearish crossover signals are present at this point, and upward momentum appears sustainable over the short term.
5. Fibonacci Retracement Levels
– A previous swing high near $2,480 and a significant retracement low at $2,300 provide the basis for relevant Fibonacci levels.
– Gold recently bounced off the 38.2% retracement at $2,365, reaffirming buyer interest at key levels.
– The next target for bulls appears to be the 78.6% Fibonacci level near $2,455.
Forecast and Outlook
Based on the current technical setup and momentum indicators, analysts maintain a bullish forecast for gold over the coming sessions. However, resistance at $2,430 is critical, and price action near this level will be instrumental in confirming the breakout potential for higher price objectives.
Short-Term Outlook:
– Support: $2,390 followed by stronger support at $2,375 (50-day EMA)
– Resistance: $2,430 immediate, with further targets set at $2,455 and then $2,475
A confirmed breach of $2,430 would open the door toward significant upside levels, potentially testing the $2,475 zone in the coming sessions. However, failure to hold above current support zones could lead to a retest of $2,365 before any renewed buying pressure resumes.
Medium-Term Expectations:
– The trend remains clearly bullish on larger timeframes (4H, daily, and weekly charts).
–
Read more on EUR/USD trading.