SYM: XAUUSD-H4
Time: 2020/05/17 00:00:00 UTC
Trend Analysis
This analysis will be expired by taking place a week after this date or breaking the largest resistance, the smallest support or the long term trend.
• Trend’s Analysis
Term ............................ Trend
Short (STTL)...................Strong Bullish
Mid (MTTL).....................Very Strong Bullish
Long(LTTL).....................Strong Bullish
o The most recently confirmed Uptrend line in Long Term for XAUUSD_H4 is Strong Bullish-LTTL. It was made at 1566.79, 191 candles ago, and confirmed at 1672.61,33 candles ago. A break below this trend line (particularly on heavy volume) would be a Bearish sign.
o The most recently confirmed Uptrend line in Mid Term for XAUUSD_H4 is Very Strong Bullish-MTTL. It was made at 1666.38, 110 candles ago, and confirmed at 1672.08,63 candles ago. A break below this trend line (particularly on heavy volume) would be a Bearish sign.
o XAUUSD_H4 broke above the Strong Bearish-MTTL at 1710.45, 103 candles ago. This is a Bullish sign. The volume on the candle of the breakout was neither extremely heavy nor extremely light (7% above average). The previous Bearish Trend may now provide Downside Support. This Line played Support role at 1691.42, 81 candles ago and at 1670.73, 63candles ago.
o XAUUSD_H4 broke above the Strong Bearish-MTTL at 1701.09, 37 candles ago. This is a Bullish sign. The volume on the candle of the breakout was heavy (73% above average). The previous Bearish Trend may now provide Downside Support.
o The most recently confirmed Uptrend line in Short Term for XAUUSD_H4 is Very Strong Bullish-STTL. It was made at 1701.09, 14 candles ago, and confirmed at 1715.03,7 candles ago. A break below this trend line (particularly on heavy volume) would be a Bearish sign.
o The current market condition for XAUUSD_H4 is: Very Bullish
• The close is currently above its 30 periods moving average. Prices broke below 30 periods moving average at 17109, 14 candles ago. This is a Bullish sign. The volume on the candle of the breakout was heavy (73% above average). This moving average line may now provide downside Support.
• The close is currently above its 90 periods moving average. Prices broke below 90 periods moving average at 1706.26, 14 candles ago. This is a bullish sign. The volume on the candle of the breakout was heavy (73% above average). This moving average line may now provide downside Support.
• The close is currently above its 200 periods moving average. Prices broke above 200 periods moving average at 1594.56, 224 candles ago. This is a bullish sign. The volume on the candle of the breakout was Light (30%
Below average). This moving average line may now provide downside Support.
• Supports and Resistance
Supports
Price ....................... ... Power
1734.47 ............................ Very Weak
1701.09 ............................ Very Weak
1684.63 ............................ Mid
1666.38 ............................ Extremely Weak
1643.54 ............................ Weak
o The most recently confirmed downside very Weak Support level for XAUUSD_H4 is around 1734.47. XAUUSD_H4 broke above this level on 3 candles ago. The volume on the candle of the breakout was so heavy (118% above average). We will be expected that the price has some difficulties to break down this level.
o XAUUSD_H4 broke above the Upside very Weak Resistance level of 1701.09, 14 candles ago. The previous resistance level of 1701.09 may now provide downside very Weak Support. The volume on the candle of the breakout was so heavy (148% above average). Break below this level (particularly on heavy volume) is a Bearish sign.
o The most recently confirmed downside Mid Support level for XAUUSD_H4 is around 1684.63. XAUUSD_H4 broke above this level on 61 candles ago. The volume on the candle of the breakout was heavy (64% above average). Break below this level (particularly on heavy volume) is a Bearish sign.
o The most recently confirmed downside Extremely Weak Support level for XAUUSD_H4 is around 1666.38. XAUUSD_H4 broke above this level on 152 candles ago.
o The most recently confirmed downside Weak Support level for XAUUSD_H4 is around 1643.54. XAUUSD_H4 broke above this level on 169 candles ago. We will be expected that the price has some difficulties to break down this level. Break below this level (particularly on heavy volume) is a Bearish sign.
• Resistances
Price Power
1753.31 ............................ Weak
1770.00 ............................ Very Weak
1781.20 ............................ Mid
1790.00 ............................ Mid
1812.01 ............................ Very Weak
o The most recently confirmed Upside Weak Resistance level for XAUUSD_H4 is around 1753.31. This level is Important for traders.
o The most recently confirmed Upside very Weak Resistance level for XAUUSD_H4 is around 1770.00.
o The most recently confirmed Upside Mid Resistance level for XAUUSD_H4 is around 1781.20.
o The Second confirmed Upside Mid Resistance level for XAUUSD_H4 is around 1790.00, and we will expect that price has some difficulties to break up this level. Break above this level (particularly on heavy volume) is a Bullish sign.
o The Second confirmed Upside very Weak Resistance level for XAUUSD_H4 is around 1812.01, and we will expect that price has some difficulties to break up this level.
• Momentum Indicators
o Stochastic Oscillator
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 77.7449. This is not an overbought or oversold reading.
o Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 68.90. This is not a topping or bottoming area. However, the RSI just crossed below 70 from a topping formation. This is a Bearish sign.
o Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 118. This is an overbought reading. However, a signal isn't generated until the indicator crosses below 100. The last signal was a Bearish, 8 candles ago.
o MACD
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9-period signal line. The last signal was a Bullish, 17 period(s) ago.
Crossovers
Currently the MACD is Bullish since it is trading above its signal line. The MACD crossed above its signal line 14 period(s) ago. Since the MACD crossed its moving average, XAUUSD_M240's price has increased by 1.75% and has ranged from a high of 1,751.680 to a low of 1,699.560.
Overbought/Oversold
The MACD is not in an Overbought/Oversold range.
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This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. Orbital accepts no liability whatsoever for any loss arising from any use of this analysis or its contents.