As we know that US NFP results are not in usd favour thats why everybody buying GOLD without keeping in mind that USD stabilize its economy while fightng with corona disease.thats the reason we are here selling GOLD with full confidence.Best resistance area is 1620 and retarace untill 1597.there is a strong support at 1597 Thats why we can be able to buy gold with...
Gold held above the 50% Fib level and horizontal support line, as expected in the previous gold chart, and saw its best daily gain today since March 2009 when the Federal Reserve expanded Quantitative Easing 1 during the global financial crisis. Price rallied +4.12% today from an opening price of $1,505 and closed at $1,567 on today's Federal Reserve announcement...
Friday saw the price of gold close at $1,484, down -14% from the recent high of $1,704 made earlier in March. Price has fallen below the 38.2% Fibonacci retracement level and is currently testing horizontal support at $1,450, which stems from a price peak made in July 2019 and then tested and held as support in November 2019. This recent test of horizontal...
Gold is in the buy zone of the uptrend of the rising wedge.
Gold topped out with a double top consisting of two very ugly bearish doji candles on the monthly charts. Additionally, monthly RSI is showing bearish divergence in oversold territories. Retrace to the .5 or .618 fibs (1378 USD, 1300 USD) coinciding with horizontal support.
the important thing to not go under the chanal and target will be around 1650
Technical breakout and retest. My expectation for 2020 is a volatile market for both the US indices and for the gold miners. I think gold miners will actually outperform US stocks to the downside here and then will explode higher once we reach full ZIRP and QE5++. The SPX and other US indices could take a major blow in terms of gold which will drag down gold...
As we are publishing this report Gold is trading at $1586 however the white metal is hovering around $16.60.The major U.S stock indices have seen there the worst week since the last financial crisis of 2008. The S&P 500 has its worst day since August 18, 2011, and the three main indexes fell into correction territory. The Dow Jones dropped 1,191 points or 4.4% in...
Shandong Gold Mining looking good for mid-long term buys especially with the coronavirus in the news. As investors would seek to invest in safe-haven stocks. Enter a position at breakout with volume and close above $20.80.
USGD.C is cheap at $3M mkt cap and tight 60M float. Trading at 52 wk low with solid bid support at this level. Favourable macro (gold), expecting update on its high grade gold Nevada project + upcoming presentations PDAC could fuel the momentum reversal here. Seasonality may come into play as well as this stock tends to be active and have the highest gains in the...
XTT.V bounced off the recent trading range low (.09) on volume with bullish MACD crossover confirming reversal. Company expects steady news flow from its drilling program over the coming weeks, testing several areas with high grade historical gold hits. Note the up-sloping Accumulation/Distribution indicator, suggesting steady buying pressure over the recent months.
GOLD XAUUSD and Gold futures have been rallying for weeks and months providing buy opportunities. The attached GOLD chart below represents the weekly timeframe, that is, a longer term analysis with each candlestick representing a week worth of time. There is a very strong weekly imbalance located at #1 much lower around 1.478 but it seems that price is not...
AXM.V should be on the radar of every #gold investor. $47M mcap company with NI-43-101 compliant resource worth $700M+ USD in the Central African Republic and other promising projects in Africa. Rapidly improving security situation and recently announced strategic partner point to a major opportunity, imo. Bullish MACD cross on the daily chart, bullish...
Weekly rising wedge, strong linear regression uptrend, middle trendline as support line (blue circle) also 50MA may act as support if price falls that far. Rising Wedge is a bearish reversal pattern however this can be also interpreted as an ascending channel. Best to long gold.
As a trader you should consider your own risk:reward ratio and do proper lot sizing according to your margin and leverage level. Not every idea is a valid trade. This analysis is a trading idea, not a trading signal for you. My own trend direction estimation, entry point, stop loss and take profit levels are on the chart. Good Lucks.