FX:XAUUSD   Gold Spot / U.S. Dollar
The midterm election has been already ended which resulted in the
Democrats now controlling the house of representative, at least they got the needed majority so now they would be able to control the House of representatives,
but what about gold and silver? let's come to the point
following the election the dow jones broke 26000 point, The S&P had made a quite good rally while the NASDAQ was the best performer among made a net gain of about 163-167 points(approx). The US DOLLAR had also made significant upward rally since the election has ended sitting over 96.50. The entire precious metals market is benefiting from dollar strength today but it's still holding onto respectable levels

our technical analysis suggests that the gold has its weak support at 1221.70 where the 100-day moving average stands and $1218 which is the 0.618% retracement-however we believe these levels are very weak and once gold will break below these level a free fall in gold and silver will follow- Gold price settles below the EMA50, to keep the bearish trend suggested on the intraday basis, waiting to visit 1208.40 level as our short-term next main target

Our previous comment

1-we believe after the US mid-term election when the dust will be settled, the recent news events and relatively strong earning data will push the US stock market and economy to upside in a significant manner

2-If US-CHINA Trade war will be eased through the losing the policy by trump in the near future, we expect the equity market to surge 5-10% over a few weeks or even in few days on that news alone, hence a significant downfall in the precious metals sector.

3-we strongly believe experienced money managers and strategic professional trader should tight their seat belts and should start taking trades in gold -0.31% and silver 0.00% as we are expecting a sharp move as the price could move in a very aggressive manner soon-However we are very bearish for the mid and long-term in the precious metals sector.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out