FX.co ★ Trading signals for GOLD on October 22-24, 2026: buy above $4,060 (21 SMA - 0/8 Murray)

Gold is trading around $4,073, rebounding after reaching 0/8 Murray and showing a positive signal, as the $4,060 area represents strong support.

Since Wednesday's US trading session, gold has been under downward pressure, falling below the 1/8 Murray level around 4,140 until reaching the $4,153 area—around the 0/8 Murray level—and showing a slight recovery.

Technically, we could expect gold to rebound above $4,060 until it reaches the upper band of the downtrend channel or the 21 SMA around $4,120.

Should a bullish scenario occur, we could buy the XAU/USD pair above $4,060 with targets at 4,123. Although the Eagle indicator is showing a negative signal, this brief recovery could be seen as a sign that the downtrend is resuming, and we believe that in the short term, gold could continue to fall until it reaches the psychological level of $4,000 and might even reach the -1/8 Murray level around $3,984.

Conversely, if gold breaks decisively above the downtrend channel and consolidates above $4,123, this could be seen as a positive signal to continue buying, with targets at the 200 EMA around 4,211; ultimately, we believe it could reach the 3/8 Murray level around $4,296.

Our outlook for the coming days is to buy above 4,060, always with moderate risk and only until the price reaches the upper band of the downtrend channel. In this zone, we should exercise caution, as a technical correction or a breakout from the downtrend channel could occur. Once this happens, we can then decide whether to buy or sell gold.