Price has been respecting key and very important support and resistance levels just recently and we are going to take full advantage of this collecting pips on the way :p
Price has been respecting 1297.07 for the last 3 weeks touching this price ( resistance ) and failing to break it, you can see where price has respected this level from the purple circles we ...
Gold at a cross road again.
To break up higher from hear would signal a re-emergence of the upward short term trend and signal another attempt about the horizontal resistance area of 1350-1380.
A failed move higher would signal lower prices for 2019.
Gold priced in British Pounds has made a tentative break today.
This is not necessarily a Gold trade, but a warning that the British Pound is weak, and a further breakdown is imminent. Gold is caught in a bullish Dollar's crossfire, but Gold relative to GBP is telling is that a substantial currency move may be coming.
The GBPUSD has been grinding support for ...
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1183.15 would begin in Midterm.
The RSI resistance #1 at 53 is broken, so the probability of beginning of uptrend is increased.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
Price is above ...
GOLD has been on a rise lately however I don't expect this to be a big bullish run for GOLD, in other words I don't think this run will take us to a peak higher than the peak we have made (1350+ area) this year. Now is a good time to buy as we have risen and retraced already so the next wave up can be anytime soon. I expect this wave to take us to 1250-1260 USD ...
Since June 2013 from today Gold has been trading between $1373 & $1046, possible accumulation zone coming into play. Ma's did crossover signalling a push to the upside but was quickly reversed on August 1st and acted as resistance as gold had Four red months.
Gold is breaking the final frontier of a multi-year pennant. It is now nestled below trendline resistance and the weekly 200MA.
Could this just be a false move?
Unfortunately for the Gold bulls, Gold has to contend with a a very bullish USD. Unless the USD is going to make a move to the downside, I cannot see Gold making ANY serious upside traction.
And my ...
So Gold broke the upward trend line it has been in since 2016. Now the price now has two options.
Perform a dramatic bounce above 1250 and stay above the trendline and recommence its upward trend.
Or more likely bounce and touch just below the trendline and test another fibonacci retracement line down lower.
It appears to be more likely the re-emergence of ...
Gold downtrend resumes from 1248, conservative target of 1241.5 because of possible double bottom on daily chart
Daily double bottom is in place and look for long opportunities after a close above 1248
Downward point triangle indicates downward pressure, followed by a reversal in trend and a large upward correction.
Similiar longer term pattern in playing out with large downward pressure, followed by a reveral in trend and large upward correction possible to follow?
However first Gold must not break the upward supporting trendline otherwise this idea is void. ...
Simply looking very overbought and toppy with MACD and RSI indicating DXY is most overbought since early 2017 and therefore indicating a correction downwards is due. FED pausing on rate hikes would accelerate this dramatically lower.
This trendline has been hit 4 times making it a significant trendline. I expect the price of gold to reverse and potentially follow up all the way to the first horizontal line that will act as resistance which was previous support. Tight stop-loss at around 1282 based on previous price levels over the last few days as a major break of this trendline could see the ...
I guess it depends on Iran...? Oil has shown there to not be much affect in regards to it's price, could Gold follow. I would like to see a pullback to at least the 1310 resistance zone and see a signal printed before running it down to 1300 area which I believe can be reached. Let's see what happens with the US & Iran........