Analysis -XAUJPY looking bullish after showing signs of a reversal. Sellers pushed price down into support but the following day, buyers bid up the price to back above support before the second daily candle close. -The 2 candle price action resulted in a bullish engulfing setup AT SUPPORT which is a bullish sign. -The third day (after daily bullish engulfing...
XAGUSD is testing its resistance where we expect to see a reversal. XAGUSD is testing its resistance 16.20 (horizontal swing high resistance, 61.8% Fibonacci retracement ,61.8% Fibonacci extension ) where a reversal to its support at 15.51 (61.8% Fibonacci retracement ,100% Fibonacci extension ) Stochastic (21,5,3) is also approaching resistance where we might...
Gold prices have been undeniably bullish on the daily timeframe . Prices have been respecting a healthy uptrend since early December when a solid breakout above $1,240 was achieved. With the precious metal repeatedly creating higher highs and higher lows, bulls are clearly in the building. Gold has the potential to rally towards $1,333 once a solid daily close...
Believe it or not, it is just a matter of time before we could confirm that Gold has carved a major top at $1326 levels. The recent price action in Gold reveals that prices could be poised to print below $1300 levels if not further. With prices bouncing off from $1303 levels yesterday, it could be possible that a down gartley is underway before it resumes lower...
Gold prices might touch $1217 levels intraday before deciding further short to medium term direction it seems. As discussed earlier, Gold might have hit a major resistance at $1326 levels recently that has potential to remain a major top going forward. Also, on the shorter time frames, the yellow metal might have produced an impulse between $1326 and $1302 levels...
Is gold drawing a Cup and Handle on the daily? With UJ seasonality in agreement the likelihood increases...
Look for tomorrow's GDP entry opportunity! Bearish MMM cycle done, let's rise with the WVV bullish cycle in FX_IDC:XAUUSD FX_IDC:XAUUSD Add me on telegram t.me Regards! Bruno
We need to hold 1236$ support trend line else gold will most likely go --> 1180 which would be crazy crazy oversold High risk reward that 1236 holds
The Simple Moving Average 200W "BreakUp" and the triangle pattern promote a long term bullish perspective. Fibonacci golden ratio of 61,8% (@1285) becomes as an important support.
Highest point buyers moved was 1321.87 which is the white line. THEN SECOND lowest point 1319.60 which is the the yellow line Then price moved down to 1318.25 to the purple line. price moved lower each time so buyers are dying out. However the new candle stick opened closer to the high then it did to the low of the candle. so thats why I'm going to...
Log view, we're sitting nicely on 0.236 Gold won't break down below this triangle if not oil breaks down... Currently there is no way to change the vehicle fuel to electric, it will take 5-10ys of development. Trucks haven't even made that shift yet. (Tesla/Volvo not there yet) Gold currently costs more and more to mine with a absolute breakeven at 1100, a more...
Entry: $1264-1268 TP: $1275 SL: $1262
Long silver and the target is previous supply structure.
As you see on the Chart, Gold is pulling back to our Daily Support zone and FIB region at 1242.60. Could we see a rejection of it ?
Close above falling trend line, retest of trendline which also happens to be a fibonacci level. Long up to 1250
As in chart. Supported by fundamental bearish outlook on USDJPY.