Metals are hard commodities that are mined or extracted. They can be further divided in precious metals like Gold, Silver and Platinum and high-demand base metals like Copper, Aluminium and Zinc. Precious metals tend to move together in price and their unit of trade is the troy ounce. Gold has a number of industrial applications, functions as a safe-haven for currency speculators in times of uncertainty and can be used as a hedge against inflation.
Base metals are essential to industrial processes and are traded in metric tons. They are a leading indicator signalling economic growth or weakness. The strong demand from China's infrastructure and construction sectors is the main driver of global base metal consumption. Production cuts or increases and fluctuations in global inventories further influence their price. Metals are mostly traded through futures contracts, to speculate on price movements. The most popular custom chat is the Gold room where traders talk in real-time about where Gold is going.
By Andria Pichidi - March 21, 2019
Gold Futures rallied sharply following the uber-dovish FOMC outcome on Wednesday, seeing prices rally from under $1,300 to 3-week highs of $1,320.20 in London morning trade. Gold’s advance came as the Fed called off further rate hikes this year, resulting in a sharply lower Dollar, and lower Treasury yields, both Gold...
The market reverses. If we look at the daily chart, we are going to get a reversal candlestick pattern. For this, the close price of the daily candle should be not far from the current rates. RSI and MACD histogram confirm the price reversal. In spite of bullish DMI, ADX line falls, and it tells us that bulls are not so strong now. There is only one local support...
The market confirmed the continuation of the primary uptrend. After the confirmed reversal from the support zone formed by the uptrend line, SMA100 and 15.00 level, the price moved upward. We got a short term pullback and a new swing high. Based on the hourly time frames we got trading opportunities in the direction of the main trend. The market made a good upward...
Ok guys, target almost reached, the question is, what now to do?
We can see 2 shooting star candles (which is bearish). We need to be patient we have to wait for that candle to close.
MACD losing his strength. RSI showing bearish divergence. This will probably be easy trade. There is too much bearish arguments.
I think it will found massive resistance in that...
Gold spiked up after FOMC to 1320. However it looks like the short term top is done at 1320, and now bears are back. There are a few technical studies suggest that the top is in:
- ABCD harmonic pattern
- 0.618 Fibo Retracement from 1346 to 1281
- Evening Star Pattern appears at the strong resistance, which is a confluence of 0.618 Fibo retracement and upper...
Watch price action before taking a tradeWatch price action before taking a trade! Attention! Please do not exceed the margin more than 12-15% and in time move the S / L or set the TSL .
gold still in sell zone and you can enter short with SL 1327
long term target @1340
it is pure resistance and support analysis
you can see @1360 where bearish momentum so strong and price may drop under 1300 again till end of 2019
main support @1278
safe trade, long term investment, good money management is required
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