Monfex is at your service and today we overview XAU/USD.
Gold broke the ascending channel. For now we have the descending movement and the price at the moment near resistance line with MA100 and the big volume zone that is our main point for short.
There is a possibility that this is a big bull flag, which is aimed at new highs, but the support...
Gold (1H) - short term bearish bias
The precious metal is still under water after dropping below the pennant formation. The price rose back to test the lower band support-turned-resistance and was met with stiff selling pressure. The current consolidation is expected to be short-lived and the price is likely to head south from the moving averages. The RSI has...
though we see some correctional movement on silver
my outlook is still bearish .
currently, the market is standing just beneath the major falling trendline .
I expect that selling volumes will accumulate and we will see a bearish breakout of a bear flag .
for us, it will be a perfect selling signal.
Another higher low forming on gold.
Got a nice rejection of the fib 0.786 retracement level and the broken bullish TL.
Looking for a lower lower to be made on this timeframe swell as the daily. Hence my target target profit of $1455/$1450
Gold prices dipped to early-October lows on Friday as investors were cheering a partial US-China trade deal. As a result, Washington decided not to raise tariffs on $250 billion worth of Chinese imports from 25% to 30%, which brought some relief to global markets. The bullion registered a weekly low just below the $1,474 figure and finished at $1,488 on...
There are some interesting clusters of price and time barriers coming up for gold in the next few weeks. It's worth being aware of where they are and what they might mean for the gold market. The first significant point is derived mainly from the range between the interim low labelled B and the high labelled C. This is a daily chart. Consider the following...
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Gold is noticeably retreating amid the positive progress in trade talks.
* Positive news from Brexit and US-China trade negotiations are enhancing investor sentiment - positive headlines boosts investor’s risk appetite. Particularly, on the US-China landscape, the talks are taking positive course as the negotiations restarted...
I still believe these need to get back and correlate with each other somehow.
which means there need to be major dollar weakness somewhere along the line.
Could this be the start of it.. maybe the US/China trade war will go badly....... but i cant see it.
Nice 1hr bearish trend forming on gold. The bullish 1hr TL and 50ema have been broken.
Price is now retesting the daily pivot level, 1hr 50ema and previous support at $1498
I am looking to short gold on these 1hr pullbacks back down to the previous lows and support at $1460
This week, we will likely see gold re-testing 1480, where price briefly violated on Friday but quickly rallied above after some bulls visited the metal. If 1480 is unable to hold gold's price, we could likely witness a test of 1446 level in the coming days before gold rally out of its bullish falling wedge.
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