Good afternoon traders,
As part of our #SundaySetups we are taking a look at gold and its recent wild ride from 1350 area all the way back to the high 1270s. Looking at our trading view chart we have tried to cut out the noise, zoom out to the daily charts and highlight the support line that Gold has found at the 1275 area. Gold traded sideways for the large...
UPDATED CLEAN CHART
"As you can see from the Chart there has been a nice Hourly Trendline forming with the 0.5 fib level in close proximity, i am quite eager for this to break which will then see price down towards the next psychological handle of 1280 and fib level 0.618, then up to retest the broken trend, 50% fib now resistance and down towards 1273...
As you can see from the Chart there has been a nice Hourly Trendline forming with the 0.5 fib level in close proximity, i am quite eager for this to break which will then see price down towards the next psychological handle of 1280 and fib level 0.618, then up to retest the broken trend, 50% fib now resistance and down towards 1273 coinciding with the daily trend...
Gold prices rallied decently yesterday, with the bullion broke above the 100-DMA, which acts as a support level around $1,297 on Tuesday as the bullish momentum is waning. The prices extended gains to one-month highs above $1,300 but failed to confirm a bullish breakthrough and started to retreat.
The bullion is closely following investor sentiment in the...
Gold prices are rising this week as concerns over the US-China trade relations fueled safe-haven demand in the global markets. On Wednesday, the bullion extended gains to mid-April highs marginally below the $1,290 handle and could make further bullish attempts if trade tensions continue to rise.
US-China trade talks will resume in Washington tomorrow. After...
Buy GOLD using as timing signal VIX Volatility SP500 $SPX. Mark 1st month 20 MA turns up. Mark month when SPX bar red. Mark same when GOLD above is red too (only been six occassions since 2000) - purple horizontal is stop loss & break above WHITE horizontal (previous Williams Fractal - could try pivot H & L as well) purple vertical confirms buy. NOT ADVICE. DYOR...
Looking for a rise to 1280 before a pull back to 1260 as gold continues a slow decline. Later in the year we can expect it to pop higher but for now we can track it down. Good luck!
Despite a widespread dollar weakness gold prices are struggling to regain a sustainable bullish impetus on Wednesday after a modest recovery yesterday. The bullion failed to break above the $1,286 intermediate resistance that is standing on the way to $1,290 and has settled above $1,280 during the latest trading.
It looks like the dollar relationship has...
Gold price is widely followed in financial markets around the world. Gold was the basis of economic capitalism for hundreds of years until the repeal of the Gold standard, which led to the expansion of a fiat currency system in which paper money doesn't have an implied backing with any physical form of monetization. AU is the code for Gold on the Periodic table of elements, and the price above is Gold quoted in US Dollars, which is the common yardstick for measuring the value of Gold across the world.
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