Divergence in the RSI supporting the fallback from resent highs. Waiting for a supporting candle to confirm the reverse of current recent upward trend.
Breakout in trend within ranged channel
The area in the yellow circle will be interesting, and gold might go for a upwards breakout after some correction.
So we have a new postive trendline that the price has struggled to keep up with now after the correction that occurred late March16. This chart shows a symmetrical triangle/wedge breakout to the negative. First significant support now is at 50 SMA on the daily chart at 2045. Strong resistance at breakout and Fibo 38,2 level at 2058.
Pair is currently trading in a ranged zone. I do not belive we are out of this ranged zone before we have at least two weeks closing candles out of the range. USD is fundamentally strong long term now, and I do not belive we are ready to break out of the range on the upper side at this moment. Look for any daily candles moving inside the retracement zone for...
See the highlighted areas for reasoning; (from the left on the chart) We got strong resistance around fibo levels from the fall in aug15, and now jan16 around 1970. we broke 200 SMA on daily chart last week witch also provides quite strong support. We got high buying volume that pressed the price over the 0,618 level from the jan16 fall earlier this month,...
We just broke 200 SMA the other day on the daily chart. A lot of fundamentals suggesting for more positive outlook, and while USD interest rate stays flat. There isn't really no technical indicator that can argue against this markets current fundamental situation in my opinion. Next level to pay attention to is the all time high trend line around 2100. There is...
We might see some correction of the strong daily upward movement now and then, and rememver every trend moves in smaller swings. As long as we stay within the ascending triangle I am long on this instrument with an s/l around 1245. We're quite close to the end of the triangle, so a breakout should perhaps happen quite soon (perhaps next Monday). There is of...
Descending Triangle forming at top of bull pattern, -still a bearish continuation pattern though. I am expecting a drop tomorrow with all the news release. A quick rebound afterwards might come afterwards though, as with last weeks ECB news, -main trend is up at the moment.
We got ECB set, and USD moving steady as planned. Oil is setteling as well. All this gives gold price a reason do decline. Daily chart shows a big Engulfing candlestick, which is a quite negative sign, -with shadow outside the upper Bollinger band as well. I would wait to see how the price behaves closer to the middle band, before going long which is the main...
I see no reasons for more declines now to be honest. Bottom is reached at around 25$ see the doji candle breakout of the Bollinger Band. It's a great reversal indicator. The fundamentals is in place as well IMO for a further claim.
Several fundamentals are suggesting a further claim towards 2100. We got major resistance now around 1965. Look at the strong doji candlestick breakout of the Bollinger Bands on the monthly chart followed by a confirming candlestick.
This is a strong upward trend that seems to have no reason to break at current moment. Market (except oil) has just started recovering after it almost slept out of the upwards trend. Expect volatility in 2016 but I am pretty sure the trend will move further up in the coming months. Lower limit about 1950, expect YOY up to 2200.
The market has already calibrated mostly for the declining oil price. Energy sector not so big either in the S&P0.00% , accounting for 6,5% of the stocks . Stoch indicates oversold on daily chart . Marked has also re calibrated after the first initial rate hike and upcoming hikes is expected. Dollar might stay flat and rate hikes prolonged to avoid drop in oil...