=> Tendency: BULLISH
=> Technicals: Pullback and retest
Be careful with the breakout to the downside.
=> Fundamentals: market uncertainties, US-Iran tension.
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Gold has to break above $1485 in order to proceed higher. Catalysts could be the fed meeting today or the December 15th tariffs going into play. Either way we should see a strong rally following this breakout. Otherwise a breakdown would occur and I think this is less likely based on the buying action over the last couple of months and the increase in tensions...
Gold is showing a continued upward move started 2016
The price move move is accompanied by volume
Price traded volume confirms this on Monthly/Weekly
Daily - bullflag
This coming week am aexpecting gold to break out of the flag
Target immediate prior highs
Price has tested twice the support area of the consolidation zone forming a double-bottom
My view on gold at the moment is that it will retrace to the trend line that has previously been respected twice and then rocket from there. 1466 is the region to watch for Long opportunities. Gold is cheap at the moment. 1600 expected by new years. Overall trend on daily is bullish.
1466 also sits perfectly on the 0.382 fib level retracement.
My expected gold move in the next few years. Gold will break higher and hit resistance near $1800/oz and then will fall lower. The fall lower will coincide with previous resistance become new support for the next leg higher all the way to $5000/oz - $8000/oz by 2030.
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...
This Gold rally can be divided into 8 sections. In each section, price rising is accompanied by increasing volume and decreasing price is accompanied by declining or flat volume . This means there is a higher comittment of capital present during the upward moves signalling strength in the upward move. The recent pullback (zone 8) is also accompanied by declining...
Gold (Spot) - Intraday - We look to Buy at 1504 (stop at 1494)
The medium term bias remains bullish. 2 positive daily performances in succession. The overnight rally has been sold into and there is scope for further bearish pressure going into this morning. Last week Marabuzo is located at 1503. Bespoke support is located at 1504. Although the anticipated move...