this week gold just kept breaking supports, one after another, and on Friday sellers have reached a key daily level.
on 8H/4H chart we see a nice combination of two harmonic movements with a perfect match of their projected completion points.
moreover, we have a perfect fib.confluence of the last two bearish...
With gold showing a low resistance path that could pull it back to the low's that we saw in the last week or so. With many analysts offering a much higher price in the upcoming months to years I feel the uptrend will still be respected.
We can see some ranging that could show a pull back to the support around 1700, if a re-test does occur, expect a false...
Gold continues to push higher in its current bull trend with all indicators pointing upwards, apart from the RSI which is slightly overbought but this is gold we are talking about...
I am looking for buys but we have some tough resistance building up on the way up. Some more bad news should lead us through that area - possibly today's FOMC but keeping an eye on...
after a strong bullish movement that we saw at the beginning of January gold corrects itself.
On 4H the market has set a sequence of lower lows and lower highs
and currently, it is entering within a peculiar area from where we can expect a bearish continuation.
for confirmation of our predictions, I am...
silver is standing on a strong support level for quite a while.
It looks like finally ice breaks and bulls are attempting to break above the indecision horizontal range.
for us, it will be a perfect signal to buy the market.
so let the price close above the range and buy the market...
I hope you are ready for the new trading year!
I am still on vacation and celebrating Orthodox Christmas today
but a lot of followers are very scared because of recent fluctuations and gold and ask me to clarify the situation.
The beginning of January turned to be very impulsive for many financial...
I was asked a lot to give you an update for gold .
since my last post we see just minor changes:
currently, the price is coiling within an expanding wedge pattern.
I believe that we will see a new higher high with the wedge soon.
But remember that 1482 - 1486 is a strong zone of supply
and we will anticipate...
gold is still perfectly respecting the boundaries of a rising channel .
yesterday was a rollercoaster day and gold has spiked up and immediately dropped down to a channel's support.
My bias now is bullish and I believe that the market should reach at least 1476 level
and potentially set a new higher high...
looks like consolidation on gold proceeds.
1455 - 1460 is the area on my radar,
it looks like the market is forming a bearish flag pattern
and we can expect one more higher low formation and further consolidation within a channel.
Let's see how it unfolds this week!
*for now, I don't have any...
we caught very nice profit on gold this week following my trading plan.
yesterday the market has broken and closed above a key structure resistance
and I believe that bulls will push the market even further!
Next target levels are
1492 and 1508