Signals for Selling Suggest Potential Decline in Gold

The price of gold experienced a correction as traders engaged in profit-taking during Thursday’s trading session after reaching an all-time high of $3,167 per troy ounce. The downward pressure appears to remain significant as we observe Friday’s trading (April 4, 2025), particularly with the Moving Average 20 (MA20) crossing below the MA 50 on the 1-hour chart.

Such a crossover is typically considered a sell signal by many traders.

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Analyzing the 15-minute chart, gold is moving within a bearish channel and is capped at the upper boundary. Additionally, the Stochastic indicator is also trending downward from the overbought region. This situation reinforces the likelihood of a short-term decline.

Technical References: Sell while below $3,120
Potential Take Profit 1: $3,080
Potential Take Profit 2: $3,071
Potential Stop Loss 1: $3,120
Potential Stop Loss 2: $3,129