Very good long opportunity. Price have tried to break below attempt failed RSI oversold + divergence double topped retracement on previous not so strong supply zone, moving sideways. buy low sell high my bias is very bullish on gold I think price will break above soon rather than later. GOOD LUCK
Two scenarios for gold: 1. Since the top at 1,357 USD gold is in a correction which usually turns out to be some form of ABC-Correction. If we are still in wave A, the following wave B should take gold back above 1,300 USD. Probably to around 1,315 USD.. After that expect another wave down which might not end before prices around 1,215 - 1,205 USD are...
Short term outlook of gold on the 4 hour time frame. A break of 1264 will create a new wave down and a break up from current price can see a very nice move up. The Euro is looking strong for today which is positive for eurusd and will also see gold up so I say a upper wave is more likely. But keep a close eye on it just in case 1264 breaks. TP: 1288 SL: 1262, (if...
Gold longs in play. Daily and H4 trend is bullish so we are buying on a pull back. This trade correlates well with my dollar analysis which has a bearish outlook technically. check my other posts to see the setups.
Gold remains very bullish here despite any overbought readings.. The breakout above the 6-year downtrend-line is super super bullish. Its the strongest signal for gold since 6 years !!! With the slow stochastic oscillator being embedded the rally will very likely continue over the coming days and weeks towards 1,295/1,300 USD. From there we should or could get a...
Gold Daily chart - Expecting major bullish moves on gold technically and also due to dollar weakness
Gold is very oversold. Pessimism was very high! CoT now looking very good. Seasonality as well. Stochastic with divergences & new buy signal. A bounce towards 1,240 USD is possible at least. But I think we´ve seen the lows and gold will break through the 6-year downtrend line soon. s23.postimg.org
As per the count presented on the chart it seems highly likely that Gold is getting ready to head higher. It seems that the current corrective leg down can take support in the 1255-1245 region and then the bullish Wave 3 can start, however if the market trades below 1245 and takes 1255-1245 as resistance then it is possible then we might be in some kind of...
buy @ 1116.86 I guess we can get there by December due to US rate hike fears and then turn back up after it happened - or even more if the rate hike won't happen :) But that's just fundamentals, right?..
After a successful breakout from previous range, Gold may now rally to first target of 1340.