As the market anticipates the upcoming U.S. consumer prices release, which could signal a potential Federal Reserve rate cut in September, gold is experiencing heightened interest. While U.K. inflation remains subdued and UBS has posted impressive quarterly profits, this analysis focuses solely on the technical aspects of the gold market, excluding any sentimental factors.
Technical Analysis (Excluding Sentimental Factors)
Indicator Section (SuperTrend):
1. 15-Minute Chart:
- The SuperTrend indicator has issued a strong bullish signal from the 2477 level on the 15-
minute timeframe. The stop loss for this SuperTrend buy signal should be considered
just below the 2455 level, providing a clear risk management strategy.
https://www.tradingview.com/x/KfrSSFZu/
2. 1-Hour Chart:
- On the 1-hour chart, the bullish trend began at the 2382 level, with the most recent
SuperTrend buy signal emerging at the 2418 level. This progression indicates a sustained
upward movement.
https://www.tradingview.com/x/Mx1pSQIX/
Human Analysis (Manual Insight):
1. 4-Hour Chart:
- The 4-hour chart shows a clear bullish zigzag pattern, with the trend gradually stepping
upward. This pattern suggests a strong bullish momentum building in the market.]
- Two significant Fibonacci retracements (from points A-B and D-E) have perfectly bounced,
with each leg or lower high (LH) point reinforcing the bullish rally. This consistency
further supports the likelihood of continued upward movement.
https://www.tradingview.com/x/fHlrHi52/
In this analysis, I have deliberately excluded news and sentimental factors, focusing purely on the technical perspective using both indicator-based and manual insights. The charts and signals indicate a strong bullish trend in gold, which may continue in the coming days, depending on how market conditions evolve.
Disclaimer:
This analysis is not financial advice. Markets can change rapidly, and you should conduct your own research and apply appropriate risk management. Trading carries significant risk, and you should only trade with funds you can afford to lose.
Trade closed: target reached
Closed Gold position at 2530
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.