- Gold trades below its 50-week SMA for first time since 2023.
- Tom DeMark Sequential has flashed a weekly buy signal.
- Analysts now watch $4322 and $4557 as upside targets.
Gold Price is drawing fresh attention after analyst Ali Charts reported a weekly Tom DeMark Sequential buy signal. The signal appeared as gold traded just below its 50-week Simple Moving Average for the first time since September 2023. According to the analyst, this setup could support a rebound toward $4,322, followed by a possible move toward $4,557.
Gold Price Flashes Weekly DeMark Buy Signal
The latest Gold Price setup is based on the Tom DeMark Sequential indicator. Traders use this tool to identify possible exhaustion points in trending markets.
Ali Charts said the new weekly buy signal may mark the start of a rebound. The first upside target highlighted by the analyst sits near $4,322.
A second major target stands at $4,557 if momentum continues. However, traders are still watching for confirmation from price action.
The signal comes at an important technical moment. Gold Price is now trading below its 50-week SMA for the first time since September 2023.
Gold Price Outlook Depends on SMA Recovery
The 50-week SMA is often viewed as a long-term trend guide. When price falls below it, traders watch closely for either recovery or deeper weakness.
For the bullish case, Gold Price would need to reclaim this moving average with strong demand. That could strengthen the case for a move toward the projected target zone.
Still, one indicator alone does not confirm a full reversal. Market participants may wait for higher closes and stronger volume before taking larger positions.
If the rebound develops, Gold Price could first test the $4,322 area. A sustained break above that level may shift focus toward $4,557.
Failure to recover the 50-week SMA could weaken the setup. In that case, the buy signal may need more time before producing a clear move.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
