Gold seems to be breaking out of its 2 year long wedge formation. This move is also accompanied by lots of fundamental tailwinds. My price target for gold is in the ~$2600 range
Gold H4 Check out gold, waves formed exactly as expected, zones have responded well. Multiple examples showing effective trading zones, all we are looking to do is measure and trade between them, understanding how and where to scale out consistently to mitigate risk and squeeze profit
Gold soared after inflation print yesterday. Today it broke above 1800 USD. Currently price is creating setup for inverted head and shoulders pattern which is very bullish development for XAUUSD. We continue to maintain bullish stance on gold and we expect eventual breakout above resistance that lies near 1840 USD pricetag. Our short-term price target of 1850 USD...
Inverted head and shoulders pattern we pointed out in the previous idea failed to be confirmed by breakout above the neckline. Thus, gold continues to be stuck between 1750 USD and 1835 USD pricetag as we correctly predicted over the summer. Trend remains neutral. But despite that we remain bullish on XAUUSD and we expect eventual resumption of uptrend....
I have been waiting for this setup to develop for a while now. Today gold is breaking above its October high. It is at the same time challenging its weekly downtrend line dating back to April 2020. With persistent inflationary pressures we already saw the energy sector being the best performing sector in October. Big money is flowing in these sectors and precious...
The chart on the left shows the daily timeframe of XAUUSD. It’s in the neutral area between the lower and upper blue bands. However, peaks and troughs are lower, hinting at a bearish bias. The right chart shows the hourly timeframe the EMAs look to be crossing bearishly and the stochastic is already heading south. We note that the greenback is bullish on a...
Gold rebounded from its low around 1742 USD retracing back above its support near 1750 USD. We continue to have notion that gold will remain stuck trading between 1750 USD and 1840 USD for indefinite amount of time. However, we expect eventual break out to the upside. We continue to be bullish on gold and our short term price target remains 1850 USD. Investors...
Gold has recently been underperforming, and this week technically put forth that whatever short term bullishness it had, is now given up. Closing at a 6 month low, breaking down of a break out, and breaking the cup (of the cup and handle pattern), just goes to heads up that downside risks due to some sort of panic risk off is due. Targeting 1620. Technicals in...
Gold continues to rise and we remain bullish. Gold took off to the upside from the upper bound of downward moving channel. Current important area is around 1830 USD. If gold manages to break above this price level it will further bolster a bullish case for gold. We will view this as another confirmation of that gold bottomed out on 9th August. RSI is bullish....
For last few trading sessions gold has been trading near the upper bound of its downward moving channel. Short term resistance appears between 1780 USD and 1795 USD while short term support sits near 1750 USD. There is also major support around 1678 USD. RSI is neutral to bullish at the moment. Stochastic is bullish. MACD is still below 0 but it has gained bullish...
Previously, as expected Gold to run up in April 2021, it did. Now, it broke out of a channel, and made the first run. The weekly chart is showing another robust up trend, but the daily chart signals time for a mild retracement. I suppose one could see this as an opportunity. Marked out the bounce area and the target of 2100 as well. This is a multiyear cup and...
Gold GC1! Weekly chart shows a major breakdown in the past week where is closed below the 55EMA for the second week. The candlesticks, MACD suggest more downside, probably to 1600 area. Saving grace is that the RPM is levelling off, expecting a consolidation to form up soon. Meanwhile, the Non-Commercial Net Interest is waning since the start of 2021, although Top...
It has been a while since Gold was looked into... From previous analyses, Gold is indeed bearish of late, and revisited 1800 again, only to break down and closed the week below 1800. Furthermore, the last week closed below the 55EMA. This has not happened in a very long time, and may represent opportunities. Technically, Gold is still bearish. Noted the RPM...
Up strongly daily on projected production for 2021.
Gold trading action moving in Wedge Formation, Fibonacci assumes mid-term bottom has been defined and shows trading levels for coming weeks. Assumption and fib levels falsified if price action closes below 1776.
Hello Traders Investors And Community, in this analysis we look at the volatile precious metal SILVER 2-hour timeframe perspective which already prooving the breakout as of writing. You can watch in my chart this big triangle formation which is more likely to break to the upside and confirm the proper setup to reach its upside targets which you can watch in my...
FOREXCOM:XAUUSD Gold!!! Is the Shiny precious metal losing its 'flight to safe haven status' OR is this the opportunity to scale in to our Long positions and ride it to the absolute HIGHS? with the possibility of a potential correction / phase of distribution around the April 2020 swing high? Focusing on the overal market structures, using top down...
Hi Guys, here just some thoughts. With US equities in Christmas Rally mode I am not confident the descending trandline will be crossed. However, since Gold is a commodity and not only a safehaven, maybe the chances are higher then I'd expect. TO NOTE STRONG RESISTANCE AT 1480 (last week Gold was rejected 5 times at this level, one for each day of the week)...