Firstly, please support our work by clicking like button & or following! These really assist us to reach more investors & traders like you! Silver lost momentum and slid below $27,00. Technically it is forming a pennant and a break-out seems to be still far. Any further bearish movement will target the $23,00 per ounce support region.
Gold could form a double top like it did in early March before heading lower and hit the .618 Fib target of low 1700. This is a short term move so you could play this with GLD Aug 28th calls with: Stop at GLD below 178.5. First Target 190 (gap fill) Second Target 194.5 (double top) If that plays out, the next move down would be even bigger! It would then be...
Firstly, please support our work by clicking like button & or following! These really assist us to reach more investors & traders like you! Prices collapsed into a long-term ascending channel before quickly recovering. Prices are yet to stabilize and create a better technical structure.
Updated- GOLD (AUD) daily chart. Still in UpTrend for now.
Gold (USD)- Support on blue line.
Again, I am very bullish for gold long-term but things were getting crazy. Too much distance between price and mean, too over-bought, and (of course) the parabolic shape GLD and SLV began taking. Today is not a suprise and I expect the bleeding to continue. An amazing buying opportunity awaits us but we will need to be patient!!
1. Bonds are showing a very similar up trend pattern as in the early 2020 (black line) See what happened next in late February and early March. As soon as the market started its descent, bonds shut way up ! 2. The dollar appears to want to bottom. Where did it go when bonds shut up? (Orange line). There was a small lag but DXY went way up to the roof! 3....
We have been behaving in a top - mode, and the trend channel from June has been broken last Friday to the downside. If things unfold in a similar way to last August 2019 we could have some correction this week, maybe followed with some upside to make a king of a double top at the 66 level and then more correction... I would pay attention to the 63 $ level,...
Providing an update to our previous trade setup for Gold that outlined a potential Bearish Head and Shoulders setting off a fractal chain reaction of selling pressure. That scenario has played out as we predicted and we expect selling pressure to remain intact for the near term. We expect the bearish momentum to continue until we reach previous highs around the...
Gold is a great short here. It has reached target in a fantastic blowoff top and is poised to fall.
Previous resistance on June 8th, now became new support. A close below $23 is a sign of a fail of the short-term bull trend. Next support level is $20.
Here is a multi-timeframe fractal analysis for Gold priced in USD. Looks can be deceiving but it appears a head and shoulders pattern has formed signaling a short term price reversal in the yellow metal. This pattern has potential to set off a chain reaction of bearish chart patterns and downward price movement. Use stop loss as appropriate as these are...
The channel from June is doing its work and everything continue bullish. The gold sector and the miners. So around the 10th of August we can meet a new top in the channel, that can also be an important top, because the possibility of a touching the top line of a major channel. But, all of this is just to be cautious. Gold and miners would do what they...
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Gold played out exactly as planned and squeezed up to the 0.618 Fib Extension around $2,070 taking out all the short sellers with little to no resistance. Although I am still long GLD, GDX, SLV, I've closed out my Futures positions for $2,154.50 profit and will wait for a better swing trade setup (entries/exits linked below). Setups: 1. Continue squeezing up...
Major breakout! Look to buy dip as sentiment too high 📈 $GLD $GC_F $GDXJ $SI_F $SLV $ES_F $SPX $VIX $NQ_F $QQQ $NDX $SOX $IWM $TLT $TNX $DXY #Gold
This is the August (front month) contract in #Gold Futures. A big move is coming as gold is testing the top end of this rising channel for 4th time since July 27th. Technicals favor consolidation in short term down to rising support, setting up new highs after $GLD $GDX $GDXJ