Perhaps, at the levels of 3300 - 33400 would be a good area of Support for the Dow. Unless it decides to break that strong support and head over down to the 29500 - 30000 levels (previous high before the Covid-19 crash), also can be considered a strong support area.
Hi all,
I'd say the best way to ride the trend downwards with GOLD is to use a 50MA as your resistance line and just keep in at it all the way until the market stops you out. Let me know you thoughts on this bit, as I see the 50MA is surprisingly relative to the price movement for GOLD at this time of year.
Cheers!
Now we're seeing a double bottom from GOLD at the level of 1680-ish.
If we look at the support lines, this could be a strong level that would push the prices up higher.
However, if the price breaks this in the next couple of weeks - this would mean another huge drop in GOLD prices.
The more easier way for GOLD right now is to hit its ceiling of resistance near...
Now would you take a look at that. So healthy bullish and a good up trend. The trend channels are converging slowly, but not to an alarming rate, hence a good indication that market will go higher and more money would be poured in to the stock market.
From my charts, today marks the lowest Fibs level that crude oil could go. I do think that this would be the bottom, however.... if it breaks this mark, the next possible level for it to reach could be the low of $10-$12 ... which is alarming for the big O&G companies.. but on a consumer level, that means cheaper travels and other general necessity that involves...
If you see the percentage of decline in the market, then i would say it's about right when it comes to market cycles... However, if you look at the market 'on a glance' with the size of the drop that has been ongoing for the past couple of months - you'll say otherwise.
Lets go back to the crashes in 2000s and 2008 where they were considered a significant crash...
Hi all,
GOLD has been experiencing massive movements for the past couple of weeks, of course due to the current events and risk that's evident in our world today with the virus and what not. To make things simple, I've incorporated the 200MA in my charts to see where we could have a good resistance/support level before we analyse further.
Not surprisingly,...
From the chart, I believe GOLD will be consolidating on the hourly at the levels of 1600s++ and then to go on another BULL run. Perhaps a good Long entry here.
Ticks all boxes considering the 20MA and 200MA distance - with the 20MA seems to hold a strong support line. Also considering the Fibs level, it looks good to jump in the next couple of days. Let me know...
Hi there,
I don't comment much about reversals, as from my experience reversals are risky but.....VERY rewarding. Now, being a market neutral I believe GOLD is just reaching its tipping point for a reversal. However, with the current events going and happenings around the world with oil, covid-19 virus, and all the domino effects worldwide to most industries,...
From the charts, and the Fibs level clearly shows the next possible level for it to move. I believe it will still go up given the current events happening around the world - next level for target could be 1660 region highs. It might just fall short to meet the 20MA acting as a support for the next up move. Lets see...
Looking at this chart, it looks very possible for GOLD to build strength to climb higher to the range of 1625-ish again.. Good place to go Long on the hourly, and perhaps having a stop loss just below the 1590 region. Good luck!
On the daily - Price looks like it has retraced to the 38.2% Fib level on the 4th Feb, and seems like its going to continue its bullish trend.
On the hourly – the reversal has caught up to the 38.2%, consolidating there for a few hours.
Trend – bullish. Considering this trend, a good time for the price to hit its low for the day should be around 1558 – 1561...
Looking at the chart, the impulse continuation is set for Gold where a good level for new high is set to play. I'd would go for short 10 to 40 pips / 1 - 4 points buy ins, wait for a retracement and go back in again. Perhaps Fibonacci levels / daily pivot levels for extra guidance in the daily trades. Should it reach to the next level of Daily resistance? Lets...
OANDA:XAUUSD On the hourly, it seems like its testing the support line on the chart of 1559. If this breaks to the downside.. it will result in the next area of value, which is around 1551. But, if it bounces back up and breaks 1563, it should be able to climb to the next possible area of value of 1568 or even 1570s region.
Now, the question is how do you enter...
I'm not too keen on the risk on risk off sentiment where I've seen Gold spike up while the Dow or S&P shoot up the same day or week. Hence, I believe there's some other surrounding factors to be considered when we dive deep in Gold.
From the chart's technical analysis, I see a HUGE possibility of Gold retracing back down to the 50% Fibs level, where it also lies...
With the bull market being very strong and hitting new highs every week, its about time where you say its getting abit too much and the market shows its overbough for the longest time. And when we have alot of events around the world happening that would shake the market, but failed to - you tend to wonder how unusual it is.
So, here's with my limited knowledge...
