Price is holding the 0.236% fibo level as resistance, and we are looking for the downside to continue into the -27% extension support at 1750. The RSI is also holding below the 50% level, and we anticipate the downside to continue.
Gold tops out after printing a ATH back in August 2020 and then
Trades within a descending channel printing Lower highs and respecting the top and
bottom of the channel to contain the price action .
A strong break outside of the channel in August 21 followed
by a back test of the top of the channel in Sept and a healthy break
to the upside after...
Hi investors and traders !
i recomand to sell the gold in the next months (2 or 3 years) , so i made my decision based on fondamental analysis because we have many facts to support that decision , moreover it based also on tecnicale analysis which gave me a global vision for the next months
Gold took some step back after its breakout above 1800 USD. It currently trades around 1792 USD. We think upper bound of downward moving channel should be closely observed in the following days as it currently acts as immediate support for gold. Plunge below this level could lead to short term weakness. Although, we expect 1750 USD (previous support/resistance) to...
I like to use these charts to get an overall feel for investor sentiment when trading/investing in these markets. I believe having future's pricing data available gives us some insight into whether we are in a Risk On/Risk Off environment. Right now, compared to a few weeks ago we see some changes across the board. BTC is below a key weekly level (below Daily...
1. Gold price is entering a narrow wedge with an 11 month resistance and a 2 year support. This support has repeatedly been tested over the last 2 years, and is more powerful than the medium term resistance level.
2. Price is currently at the top of the wedge. A break of resistance sets up a run to all time highs, with pull backs around 1915.00 and 1965.00. I...
Let's take a look at Gold in momentum terms... Daily momentum is flat, 4 hour is bearish and increasing, 1 hour is bearish... if today we print a bearish candle on the daily then the next two - three days we'll see Gold fall back down to 1860 level.
Happy Trading folks!