CL - 8 Hrly - Weekly Forecast - 03 June 2024This is my weekly forecast of Oil for the week of 03 June 2024 We have closed below a key support level on the Monthly, so I now see this as bearish. Looking to short at the daily inefficiency (FVG) for targets below liquidity lows. Shortby TraderRiz110
Elliott Wave Rare Expanding Diagonal potentialwhen a diagonal pattern forms our structure changes to 3-3-3-3-3 instead of 5-3-5-3-5. Im counting ABC zig zag formations in the first 3 waves which leads me to believe an ending diagonal pattern is taking place. Im seeing wave 3 completed at 2432 area and because our trend line from wave 1 to 3 is expanding this gives us an indication of a deep wave 4 correction to expand the bottom trend line. In an expanding diagonal wave 4 must be bigger than wave 2 after Wave 4 we will have wave 5 that will break the highs of wave 3 and hit our upper trend line After Wave 5 lookout for the crash where we could go as low as 1600 as after and ending diagonal price usually goes back to where the patten started. This is long term analysis taking place over the next 6-12 months. This is purely technical analysis not taking any war or interest rate decisions into account we are merely following the waves of the marketShortby bglockzinUpdated 6
XAUUSD (Gold) - Weekly Forecast - 03 June 2024This is my weekly forecast of Gold for the week of 03 June 2024. We are still in a sell program, so i forecast lower lows to come. I'm looking to short next week for targets down near 2260Shortby TraderRiz0
Great entry for gold next weekLooks like the gold will be going down for A very nice entry on here wish you a good money back from this trade Shortby Sliiider0
1/3 ADR + OHLC -D Manipulationbeautiful reaction of1/3 ADR + OHLC -D Manipulation with beautiful SMT at highs, entry is refined on lower timeframes. These points are very good to monitor setups from them like this. good target could be opposing ADR or Open of OHLC like today.by Keclikk1
The latest analysis of gold.Analysis of gold news: Spot gold is currently trading around $2,342/ounce during the U.S. market on Thursday (May 30). Gold prices fell nearly 1% on Wednesday, closing at $2,337.88/ounce. The strengthening of the U.S. dollar to a two-week high, the rise in U.S. Treasury yields to a four-week high, and the hawkish remarks of Fed officials hit market sentiment. The market focus has shifted to the release of U.S. inflation data later this week. From a technical perspective, gold prices face the risk of falling below the 2,300 mark in the future. The U.S. dollar index rebounded slightly. In addition, the recent remarks of Fed officials are also quite hawkish. U.S. Treasury yields continue to climb. Therefore, these unfavorable factors have put great pressure on the market, and spot gold has fallen nearly $25, closing below $2,340/ounce. Analysts pointed out that the surge in U.S. Treasury yields has become the main reason for the sharp drop in gold prices. In addition, the strengthening of the U.S. dollar has also hit the trend of gold. On Wednesday, gold prices plummeted against the backdrop of rising U.S. Treasury yields. In addition, the hawkish remarks of Fed officials have boosted demand for the U.S. dollar, which has also hit gold prices. Traders are watching the U.S. core personal expenditures (PCE) price index report to be released on Friday for more clues on the timing and size of rate cuts. PCE is the inflation indicator favored by the Federal Reserve. It should be noted that the monthly employment report and consumer price inflation report to be released next month may drive market direction in the short term. The Consumer Price Index (CPI) for May will be released on June 12, and the Federal Reserve will release its latest economic and interest rate forecasts at the end of its policy meeting on June 11-12. Overall, today's gold short-term focus is on the 2355-2360 line of resistance, and the short-term focus below is on the 2330-2325 line of support.Shortby Mark-VIP008Updated 7
Gold trading signalsGold fell as the dollar rose to a new one-week high after traders reduced bets on the Fed cutting interest rates more than once this year after hawkish Fed meeting minutes released early Thursday morning. The strong performance of U.S. initial filings and PMI data released on Thursday night further dampened expectations of a rate cut by the Federal Reserve. The dollar continued to rise and gold came under pressure again. Today, gold is mainly short-selling at high levels, supplemented by long-selling at low levels. Focus on the 2350-2355 area at the top to enter with short orders, and focus on the 2325 area at the bottom for support.Shortby Mark-VIP008Updated 11
100% accurate gold trading signals.Yesterday's unilateral decline in gold ended in line with expectations and gradually adjusted towards the 2330 mark, which is also the only key support on the daily line. During the 4H cycle, the high point has been under pressure. Although there is a rebound under the 2330 first-line support in the short term, it remains to be seen whether the weakness can be changed. Pay attention to the pressure on the 2356 line above, and give priority to shorting at rebound highs. Yesterday, the market fell below the 2350 mark, then the short-term market will return to the shock range again, with support below 2330-28, followed by 2322, and the intraday range is expected to be 2356-2322by Mark-VIP008Updated 1115
Golden trading opportunityData released on Wednesday (May 15) showed that the U.S. core CPI monthly rate cooled for the first time in six months, indicating that price pressures are gradually weakening and supporting the Federal Reserve's intention to maintain higher interest rates for a longer period of time. After the data was released, spot gold surged by about $17 in the short term, hitting a maximum of 2378.37 before falling back. The U.S. dollar index fell about 40 points in the short term, hitting a low of 104.4046, and then recovered some of the losses. Gold fluctuated and rose today. The price fell back to support the rise near the 5-day moving average of 2354 in early trading. The trend was in line with bullish expectations in early trading. The data in the evening were bullish, and the market surged in the short term and broke through the 2378 line. At the top, pay attention to the pressure on the upper rail. The upper rail is currently moving up to around 2385. If you are bullish, do not chase the rise. Pay attention to the pressure pullback opportunities near the upper rail.by Mark-VIP008Updated 8
Gold insider information.The U.S. PPI data in April was strong, rising 0.5% month-on-month, 0.3% higher than expected. Core PPI also rose 0.5%, while the expected 0.2% was. However, both March PPI and core PPI were revised down from 0.2% to -0.1 %, the sharp downward revision of March PPI moderated the unexpected increase in April PPI. Powell's speech was also half hawkish and half dovish, which resulted in the data and speech having a limited impact on gold prices, but he also stated that the next step is unlikely to be to raise interest rates. Meanwhile, geopolitical concerns boosted gold as Israel massed troops in Rafah after ceasefire talks broke down in Gaza and U.S. officials said a full-scale offensive was possible in the coming days. U.S. CPI data for April will be released in the evening. If the data is weak, it will be beneficial to postpone the interest rate cut.by Mark-VIP008Updated 118
This golden analysis will help you make money.On Tuesday, data showed that the U.S. PPI growth rate in April was 0.5%, much higher than the expected 0.3%. After hearing the news, traders reduced their bets that the Federal Reserve will cut interest rates for the first time in September. The possibility of an interest rate cut in September is estimated to be 60%. , while the probability before the report was released was 64%. After disappointing first-quarter inflation data, the latest PPI data did little to ease concerns about stubborn inflation, which could lead to continued high U.S. Treasury yields, which would be detrimental to stocks and gold. All the various inflation measures point to price pressures well above the Fed's goals. Additionally, various consumer surveys show that consumer expectations are high. The New York Fed's monthly survey released on Monday showed the one-year inflation outlook at 3.3%, the highest level since November, driven in large part by expectations that housing-related costs will continue to increase. Recent data points related to inflation are not encouraging. The trend of gold is stronger during the day, and the U.S. market may be tested upward in the evening. At the top, focus on the key watershed of 2356, and on the bottom, focus on the breakdown of the 2340 mark and the support in the area near 2332. It is expected that the probability of falling back after rising tonight is relatively high. The support below is still at the 2330-32 line, which is currently an important support below. Short-term short positions will continue if it falls below this position, otherwise it will maintain a volatile trend. In late trading operations, the rebound will still be mainly short selling, and the short selling position will be moved up to around 2356-2358 before participating.by Mark-VIP008Updated 12
GOLD (XAUUSD) Intraday Short Trade Idea Both path ways are possible to move between the support and resistance area. In case of breaking any level we can set our postion closeShortby TetanForexUpdated 0
XAUUSD Gold short IdeaPersonally, I'm looking bearish for gold until breaks 2347.40 I'm checking short entry now from 2343. My SL will be above 2347.40. My reason to be bearish is 1) Actually i was expecting price to reach 2336.40, if price did reach that point I wouldn't look for a comeback to fulfill 2) Price made a lower low from 2339.71 but didn't make a higher high above 2347.74. That's why maybe bullish is weak. Please trade on your own risk and confirmation. My TP is 2338.40 Shortby Badi_GunnarsUpdated 1
volume spread analysis on JPY indexCME 6J Japanese Yen index is down very significantly for long time Bank of Japan tell public to day that BOJ already do intervention to protect JPY not to make it drop more than this Now based on VSA trading analysis there are 1H candle stick show extremely high volume with small candle body this can be interpreted that some big player absorbed the selling pressure using limit buy order so open long position here have some edge from both BOJ intervention news + VSA analysis Longby tofinse0
Usoil sellWhooo Same side sell position yesterday 70 pips move Today 150 pips moved ... perfect analysis perfect entry's 🥰 all the time Shortby DNA_Trader_Officials0
GOLD SELLBased on weekly TF, the RSI is showing divergence which shows that the market has reached overbought level. Plus the previous weekly bearish engulfing candle shows sellers are in control of the current trend. Daily TF is also showing bearish movement. We could see further down trend of the market should the sellers continue giving pressure Shortby WiLLProsperForexUpdated 2
#ES_F Day Trading Prep Week 5.28 - 5.31Last Week : Last week Market opened over VAH and spent all week building Supply over it, as discussed in Sunday Prep since we were at ATH with no over hang we needed to wait for Supply to build up for any meaningful back fill of previous areas and that 5341 - 5290 might be our Range where price will want to stay around and keep returning into for some time while it builds that Supply. On Thursday we ended up pushing inside the Edge but failed to find acceptance in it and the push back out gave us the flush of the inventory filling the buyers into the Value, even with how strong the move looked with break/hold under Key Support on Friday Globex failed to hold under it and we found our way back inside 5341 - 5290 Range where we were able to push back into the Means for the Range where we closed the week in VAH. This Week : Few things this week, we have Month End, Settlement changes from T2 to T1 which we don't know just yet how that will impact the trading and we had Holiday yesterday which pushed us over VAH and we are again building up Supply over it. For now we are inside T2 Range which was Thursday I believe the change goes in effect Today or this week, we are right around Previous Days Range and 5341 - 36 already showed us this morning that it's acting properly as good Resistance. So far going into this week Thursdays flush showed us that don't have stronger buyers up here just yet who want to keep paying over Value and keep pushing us into new range above and that even with strong flush we didn't have enough Supply to accept under 5295 - 90 to continue filling more buyers into VAL. This tells me again that market may want to stay in this 5341 - 5290 Intraday Range and balance around it, we have to be ready to spend quite a bit of time in these areas and trade around them until market will show us clear acceptance and intensions of moving Ranges and that can take some time because we are in a Key Spot on higher time frames we are at tops of Daily/Weekly Balances without finding acceptance above and without having the Supply just yet to move under the Middle of those balances which is around the 5290-80s area. Plan is to continue trading 5341 - 5290 Range level to level just like last week with moves out of its 5324.75 - 20.75 // 5310.50 - 06.50 Means and then returns back towards/inside them. Failures to accept over 5341 - 36 will likely find their way back to/under 24.75 - 20.75, pushes under 5310.50 - 06.50 could also be absorbed under and find their way back to/over 10.50 - 06.50 and inside the Means we could balance. We are in lower volume times so also have to give time for the moves to properly set up and be ready to correct back. Levels to watch : Current Range 5341 - 5290.25 5341 - 36 Key Resistance 5324.75 - 20.75 // 5310.50 - 06.50 Means for the Range 5295.50 - 90.25 Key Support If Accept over 5341 - 36 next Range 5386.50 - 5336 5356 - 52 // 5370.50 - 66.50 Means and Edge Top 5386.50 - 81.50 Key Resistance If Accept under 5295.50 - 90.25 lower Range 5295.50 - 5244.75 5279.25 - 75.25 // 5264.75 - 60.75 Means and VAL 5249.75 - 44.75 Key Supportby HollowMnUpdated 1
XAGUSD SELL Could this be a possible selling zone for Silver? The RSI is showing that the market has reached maximum buying area. The 4HR is also showing a reversal chart pattern at the current zone, we could possibly see selling pressure coming in. Let's see how this will play out Shortby WiLLProsperForexUpdated 151517
US GDP data is weak, let's see if US PCE data can turn the tide On Thursday, as GDP data re-boosted market confidence in rate cuts, the US dollar index retreated from its highest level in more than two weeks, and finally closed down 0.433% at 104.68. U.S. Treasury yields collectively pulled back, with the 10-year Treasury yield eventually closing at 4.556%. The 2-year Treasury yield, which is most sensitive to the Fed's policy rate, finally closed at 4.933%. The three major U.S. stock indices closed down collectively, with the Dow Jones Industrial Average down 0.86%, the S&P 500 down 0.6%, and the Nasdaq down 1.08%. Major European stock indices rebounded across the board, with the German DAX index closing up 0.13%, the British FTSE 100 index up 0.59%, and the European Stoxx 50 index up 0.38%. Risk warning on Friday At 17:00, the initial annual rate of the eurozone CPI in May and the monthly rate of the eurozone CPI in May. At 20:30, the annual and monthly rates of the core PCE price index in April in the United States and the monthly rate of personal spending in April in the United States. Gold prices were supported by a downward revision to the U.S. GDP data for the first quarter, which dragged down the dollar and U.S. Treasury yields. The dollar fell after hitting a two-week high in early trading, making gold more attractive to holders of other currencies. In addition, U.S. Treasury yields fell after data showed that the world's largest economy grew at a slower-than-expected pace in the first quarter, which also provided support for gold. On the other hand, market expectations for a rate cut by the Federal Reserve have increased, which is also a positive for gold. The market expects the U.S. PCE price index to grow 2.7% year-on-year, exceeding the Fed's target of 2%, which may have an impact on the timing of the Fed's rate cut. At the same time, the number of U.S. home purchase contracts signed in April hit the largest drop in three years, showing consumer concerns about the real estate market, which may also increase the appeal of safe-haven assets. However, the U.S. labor market remains strong, with initial jobless claims rising, but there are signs of continued fundamental strength in the labor market and will continue to support the economy. This may have a certain constraint on the Fed's decision to cut interest rates, thereby limiting the upside for gold prices. Gold prices rebounded after hitting a three-week low on Thursday, affected by the downward revision of the U.S. GDP data for the first quarter, which dragged down the dollar and U.S. Treasury yields. Today, short-term attention is paid to the support of the 2335 area below, and try to go long on gold after stabilization. At the same time, today's focus will shift to the personal consumption expenditure (PCE) price index released on Friday, which is the Federal Reserve's preferred inflation measurement indicator and may have a greater impact on the timing of the Federal Reserve's interest rate cuts, thereby affecting the trend of gold prices.Longby Yuliya10Updated 119
USOIL - Heading Lower Looks like that little bounce was a short covering shakeout and now the dominant trend has resumed to the downside 🧐. Not advice.Shortby dRends355
GOLD LONG POSITION SETUP🔮FORTUNE'S OF BETLORD🤑 GOLD ANALYSIS✨✨✨ A simple break of structure analysis on the buy side.Longby dikorocz1112
SILVER - Double topIf gold is in a decline mode silver is dropping too... Silver started to print its double top a bit later than gold but it's heading to the neckline at 30.058$. We might backtest the breakout again at 26$ in a few weeks. And also notice on the XAUXAG chart silver printed a daily swing yesterday : It might want to backtest the triangle~s lower trendline. If the XAUXAG chart moving up the silver decline will be much more severe. Prepare for the double top to break down soon ! Shortby chartwatchers5
Silver International : Entering Buy Zone . Silver 60 Min chart is in Downtrend at 80 Degree slope (Sign of Reversal at Support zone) Entering Buy Zone . Waiting for Price Pattern to Change HH-HL and candlestick Green. Longby Rohit_PSV3