bullish trend on the background of favorable fundamental. the price is testing the support. growth may continue
With further collisions with the resistance level, it is possible that the price will not be able to return and we will see that in the next collisions the price will pass through this area and reach the next levels of 2075 2082
Gold Since October 6 2023 , the bulls have being in control of the price and even now the bulls seem to be still in control of the price. The big question that traders should ask themselves me included is that, is gold going to trade above the high it created on December 04 2023 which is around 2145.00 , now we are trading exactly where gold closed on the 4th of...
Take a look at our analysis for GOLD.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 2063.526.
Taking into consideration the structure & trend analysis, I believe that the market will reach 2049.969 level soon.
P.S
We determine oversold/overbought...
Greetings Traders,
In today's trading session, our attention is drawn to XAUUSD as we actively monitor a potential buying opportunity around the 2059 zone. Gold, a notable asset with historical significance, is currently riding an uptrend, indicating a sustained upward trajectory. Concurrently, the precious metal is undergoing a correction phase, gradually...
It is essential that we apply multitimeframe technical analysis and there is no better example of why that is the case than the current GOLD chart which, if analyzed properly, clearly points in the downward direction.
❤️ Please, support our work with like & comment! ❤️
Take a look at our analysis for SILVER.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 24.362.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 23.681 level.
P.S
The term...
After a bullish spike, I look for the formation of a channel to gauge the market's next move. It's a strategy that often reveals whether the initial surge is sustainable or just a temporary blip. In this chart, we see Gold forming an ascending channel post-spike, suggesting the uptrend may continue.
WTICOUSD - 24h expiry
Previous resistance level of 75.34 broken.
Intraday, and we are between bespoke support and resistance 73.51-77.10.
The sequence for trading is higher highs and lows.
There is scope for mild selling at the open but losses should be limited.
The medium term bias remains bullish.
We look to Buy at 75.00 (stop at 74.20)
Our profit...
Hello,Traders!
GOLD is trading in an
Uptrend and the price
Will retest the demand
Cluster soon so I think
That we will then see
A further move up
Buy!
Like, comment and subscribe to help us grow!
Check out other forecasts below too!
Gold lost its clarity a bit, and price action became more stretched and wicky overall. However, until the invalidation zone holds, I'm still looking for long opportunities IF they present themselves on lower timeframes.
Please show support by clicking Boost, asking some questions, or even following this page! Love you all!
Gold's upward trend remains strong, suggesting potential for further gains. I'm on the lookout for bullish signals that could indicate a continued rise and possible new highs.
The world gold price closed the trading session at a high of 2,053.2 USD/ounce, the gold futures price for delivery in February 2024 on the Comex New York floor traded at 2,064 USD/ounce. Gold has just experienced a strong increase and ended at the highest price in about 2 weeks thanks to the weakening of the US Dollar index and falling US Treasury bond interest...
Silver (XAG/USD) is falling towards a pullback support and could potentially bounce off this level to rise towards our take-profit target.
Entry: 23.743
Why we like it:
There is a pullback support that aligns with the 38.2% Fibonacci retracement level
Stop Loss: 23.234
Why we like it:
There is a pullback support that sits under the 61.8% Fibonacci retracement...
USOIL has demonstrated a potential surge in buying pressure within the identified demand zone, prompting a bullish breakout amid the recent bearish trend. These significant levels are distinctly recognized on the daily timeframe. Presently, there is a perceived potential for a movement towards the major Order Block (OB) situated at higher levels.
Dear Colleagues, I suppose that the upward movement is not over yet. I expect the completion of wave 4 in the area of 50%-61.8% Fibonacci level 2046. It is possible that the price will go even lower, so keep an eye on the updates.
Then I expect an upward movement with the aim to reach at least the resistance area of 2070.573.
Manage your capital correctly and...
Today's world gold price listed on Kitco is at 2,067 USD/ounce, up 14 USD/ounce compared to early yesterday morning. Gold prices rose slightly thanks to the weakening of the USD and falling Treasury yields as expectations grew that the US Federal Reserve (Fed) would reduce interest rates next year. A weaker dollar makes gold priced in that currency more attractive...
