The Gold price summary has once again regained control over the significant short-term descending 21-Daily Moving Average (DMA) at $1,878. However, it was unable to close above this level on a daily basis.
The 14-day Relative Strength Index (RSI) indicator is currently situated just below the midpoint. This suggests that any attempts by the Gold price to move...
Gold opened much higher today in the aftermath of the Israel geopolitics, with a move that has technically corrected the previously oversold 1D technical outlook (RSI = 38.184, MACD = -22.590, ADX = 40.526). Regardless of the fundamentals related to the conflict, the 1D MACD is reversing towards a Bullish Cross from deeply oversold territory and a rally to the 1D...
Gold is holding well inside the last week's Channel Up and on the 1H timeframe it reached the overbought zone (RSI = 74.328, MACD = 2.620, ADX = 35.131). Even though we are bullish long term, this overbought state might cause a minor pull back or consolidation as on September 15th. The RSI has in fact reached the 77.600 R1, which was the High of that date. This...
Gold turned bullish again on the 4H timeframe (RSI = 63.771, MACD = -1.560, ADX = 40.595) after crossing today over the two week Channel Down and naturally the 4H MA50 and MA200 periods. Following the 4H MACD Bullish Cross, this rally can extend to at least R2 and that's our bullish target (TP = 1,953). The entry signal will be closing over R1.
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The price of gold is currently benefiting from a decline in the US dollar, rebounding after reaching one-week lows of $1,915. However, there are challenges to further increases in the gold price due to rising US Treasury bond yields. Additionally, caution among gold buyers may be influenced by China's slowing consumer price index (CPI) and deflation in factory...
In terms of short-term technical analysis, there haven't been any significant changes in the Gold price. It is expected to continue its range-bound trading pattern, with the 21- and 50-Day Moving Averages (DMA) acting as key support and resistance levels at $1,917 and $1,932 respectively. This trend is likely to persist until the release of the US CPI data.
The...
In terms of short-term technical analysis, it is expected that the price of Gold will remain within the range defined by the horizontal 21- and 50-Daily Moving Averages (DMA), specifically at $1,916 and $1,932 respectively. This will be the case leading up to the showdown of US CPI.
The 14-day Relative Strength Index (RSI) is gradually increasing but still...
Despite the tech stocks rally leading to a positive close on Wall Street, Asian markets are showing cautiousness and a mixed performance. This is due to investors carefully considering recent policy guidance from the Chinese and Japanese central banks.
Furthermore, traders are refraining from making new investments in anticipation of the upcoming Consumer Price...
Gold crossed and will most likely close the day under the 1D MA50 turning the 1D timeframe marginally bearish (RSI = 44.910, MACD = 1.190, ADX = 25.617). The strongest Support level is the 1D MA200, which right now is trading exactly on S1 (1,893). We have however a bullish pattern close to completion as the price may be forming the RS of a huge Inverse Head and...
XAUUSD has closed the last three 4H candles over the 4H MA50, turning the 4H timeframe bullish (RSI = 58.063, MACD = 1.870, ADX = 29.244). After the yesterday's Low at the bottom of the 4H Channel Up pattern, this is technically the new bullish sequence that aims at pricing the next HH at its top. The 4H RSI rebounded at the same level as on the July 06 Low.
If...
XAUUSD on the 1W timeframe shows a bullish technical action still at its start (RSI = 59.100, MACD = 26.140, ADX = 22.906) supported by the fact that this week Gold is rising after holding the 1D MA50, which was the Resistance for the last 2 months.
This rise is an extension of the HL rebound at the bottom of the 8 month Channel Up and has already reached our...
Gold is trading inside a Channel Up that got it off the prior downtrend as it crossed above the MA50 (1d).
The price hit the top of the Channel Up, so a pullback is expected, same as July 3rd and July 10th.
Perhaps the most important development today is the first Golden Cross (4h) since March 15th.
Trading Plan:
1. Buy near 1,966.
Targets:
1. 2005 (top of...
Gold crossed over the 1D MA50 today for the first time in almost 2 months (since May 17th). As the 1D timeframe turned bullish again (RSI = 58.454, MACD = -7.380, ADX = 44.489) this is the first major bullish signal of a projected new long term rally.
However we will wait until the first 1D candle close over the 1D MA50 and make a confirmed buy entry. Our first...
Gold broke on Friday over the LH trendline and reached the 4H MA50 for the first time in 10 days. The rejection is now retesting the LH in the form of Support, as it happened on the May 30th bullish breakout. That was the leg to the top of the Channel Down. With the 4H timeframe being neutral (RSI = 46.429, MACD = -2.220, ADX = 38.259) and the RSI on the same...
The yellow metal hit its lowest level in more than 3 months in midweek trading as a lack of news fueled the recovery. Meanwhile, speaking at a meeting of the European Central Bank (ECB), US Federal Reserve Chairman Jerome Powell reiterated his longstanding hawkish stance. Mr. Powell said that raising interest rates at consecutive monetary policy meetings would not...
Gold hit the bottom of the Channel Up that started back in November turning the 1D technicals bearish (RSI = 38.023, MACD = -15.070, ADX = 40.852). The 1D RSI in particular is printing a sequence very much like the Channel's previous bottom on February 27th. On both patterns Gold traded under the 1D MA50 for long, this time has been under it since May 17th.
We...
Gold is approaching the bottom of the monthly Channel Down, in fact it has made a double hit on the 0.236 Fibonacci level. If S1 breaks, wait for a buy at 1,915 (exact Channel bottom) and TP = 1,947.50, but with 4H technicals nearly oversold (RSI = 35.662, MACD = -5.130, ADX = 48.938) and the 1D RSI approaching 40.000, buy now as long as the price stays over S1...
Gold crossed under both the 4hour MA50 and the RSI's MA, which has been a strong signal since the start of June.
During that time the price has been trading inside a Channel Down.
Sell on this confirmed signal and target 1920 which will make a new Lower Low.
This pattern gets invalidated only if the price crosses over Resistance A.
In that case target first...
