Gold has broken through 1876 and smashed through several levels below, finally finding support at 1851. The selloff resumed after a brief pivot of 1876 took us back to test 1917, where resistance proved prohibitive. The selloff then continued and the Kovach OBV is registering extreme bearish conditions. Though we are seeing support at 1851 confirmed by two...
Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. Here is a detailed update top-down analysis for GOLD. Which scenario do you think is more likely to happen? and Why? Always follow your trading plan regarding entry, risk management, and trade management. Good Luck!. All Strategies Are Good; If Managed Properly! ~Rich
Gold has rejected 1917 exactly as we anticipated. Recall that we predicted resistance here as this was the relative low of a range held from the end of March through the beginning of April. We've subsequently retraced the entire move from the pivot off 1876, but appear to be finding support at this level once again. The Kovach OBV has turned bearish once more. ...
NZDJPY H4 A few of these ***YEN pairs coming through off the back of the video analysis posted last week highlighting these opportunities. I feel GBPJPY is lagging and may fall this week. So far we have seen a solid 2.75R, we have the potential to see 82.100 if this double bottom support breaks.
Seemingly in a huge, extended diagonal wave, Gold's current price action has given me indication that it should face heavy resistance near the range of $1970 during next week's trading period. My expectation remains that Gold will descend below $1800 in the weeks/months ahead before finding support and reaching for a new ATH. This asset will continue to be...
We mentioned yesterday that gold was starting to look oversold at 1876, and sure enough, we got a nice pivot back to the 1900's. We started to see support between 1876 and 1895 confirmed by green triangles forming all the way through this vacuum zone. This suggested that the massive selloff from 2000 was coming to a close and the pendulum was due to swing back. ...
Bonds have leveled out after a brief relief rally tested 120'14. We saw prohibitive resistance confirmed by two red triangles on the KRI, then immediately fell back down to 119'01, where we are seeing support. The Kovach OBV picked up slightly with the rally, but fell back down to bearish territory with the rejection. If current levels don't hold, we are sure...
Utilities are one of the few parts of the market to hit new highs recently. Now, after a pullback, some dip buyers may get interested in the sector. This chart of the SPDR Utility ETF highlights the $71.10 level where prices peaked in February 2020. XLU was stuck below its old highs throughout the pandemic, and only broke out in March 2022. It’s now pulling...
As predicted in these reports, gold has stabilized between 1936 and 1956. We have strong support from 1936 confirmed by multiple green triangles on the KRI, and formidible resistance above at 1956, also confirmed by red triangles on the KRI. There is a dense collection of levels above, which should provide prohibitive resistance for now. The Kovach OBV has...
Bonds have taken another turn south, after flirting briefly with 119'23. With the Fed maintaining their hawkish stance, there is little to support a breakout, or a significant technical retracement. We have broken through lows at 119'01, and are currently hovering over our next target at 188'04. The Kovach OBV has been abysmally bearish for some time now, but...
As predicted here, gold rejected $2000 hard. We collapsed through all of our support levels between $1956 and $1982. We plummeted throught the vacuum zone to find support at $1936, which is the next level after that dense patch of levels. We are likely to stabilize here, as we are currently seeing. At the time of this writing, we are hovering in the $1950's,...
Gold broke out and hit our target, only to retrace to support in the 1980's. The Kovach OBV is strong, but has curved over with the retracement. It is reasonable for gold to retrace after hitting such an important target. We are knocking at the door of the 2000 handle which is significant for gold, and it will take significant momentum for it to break through...
As we have discussed, gold was facing steep resistance from a dense cluster of levels between 1956 and 1982. We were facing steep resistance at the last level, 1982. However, we were able to break out into the vacuum zone to hit 1999, our target from last week. We are currently meeting resistance here, confirmed by a red triangle on the KRI. The Kovach OBV is...
Gold has retraced slightly from highs at 1982. This was the top of a dense patch of levels that began at 1962 or so. We are on the precipice of a vacuum zone to 1999, which is our target if we can break out. However, several red triangles on the KRI have confirmed prohibitive resistance for now. The Kovach OBV is still fairly strong, however, and has not...
As anticipated, bonds faced steep resitance from 121'00 and sharply retraced. We have fallen back to 119'23, one level above lows at 119'01. The Kovach OBV ticked up slightly with the rally, but has fallen sharply at the moment. At this point it is clear that any rally is purely technical and the bear rout is still at play.
The USD has lived up to its classification as a safe-haven currency since the beginning of Russia’s invasion of Ukraine. Other safe-haven currencies, such as the Swiss franc and the Japanese yen, have failed in this respect. Both have lost strength over the past month and a half. The Swiss franc index has fallen 1.2% over this time, while the Japanese yen has...
Gold has picked up, continuing the rally but we are running into resistance in the 1970's. We alerted you many times that there is a dense cluster of levels between 1956 and 1982. Unless we catch some serious momentum, we are likely to retrace back to support at 1936 or so. If we do catch more momentum, our next target is 1999.
Gold has tested higher levels after being confined between 1917 and 1936 for the past few days. We are still holding the broader range between 1895 and 1973 or so. Gold has taken an upswing, but is facing resistance from a dense patch of levels in this price territory. The Kovach OBV has upticked with the momentum, but it is doubtful that momentum is strong...