The big black line appears when linking the tops of 2011 and 2013. We had a restest of this line in June 2020. And now again.
Yesterday gold halted its decline at 1767.295 USD per ounce and we saw heavy accumulation below 1800 USD pricetag. MACD remains bearish. RSI and Stochastics show signs of being oversold. In addition to that RSI seems as it wants to reverse back to the upside. However, investors should be wary that drawdawn towards 1750 USD is still possible. Though, we do not have...
Yesterday gold plunged to 1803.636 USD after FOMC decision. FED announced that it expects 2 rate hikes in 2023 and possibillity of tapering talks. We think market might take some time to proccess this information. In addition to that support at 1852 USD has been taken out and RSI, Stochastics and MACD are all bearish on daily timeframe. Gold travelled back below...
Gold is in BUY area if rejects at 1850, next target will be 1870 and in long term TARGET would be 1900.
Last week gold halted its decline at 1856.040 USD after finding resistance at 1916 USD. Support remains at 1852 USD. We think price will trade in range between support and resistance for a while. There is even possibility that support will be retested, however, we think there is small chance it will be taken out. Technicals are currently mixed. We believe bullish...
Risk 2% per trade maximum
D1 Trend is Down but now market its changing its trend on H4 and trying to break strong zone.
Gold has been steadily climbing up since 8th March 2021 when hitting low of 1676.866 USD per ounce. This low was subsequently retested for the second time on 31st March 2021 when price halted its decline at 1677.954 USD per ounce. This is bullish sign for gold, altogether with the fact that gold currently trades around median trendline (white dashed line) of...
Forecast: Addressing market sentiment regarding Gold backed ETF's, COMEX and BONDs etc. Daily chart analysis, looking at the Gold price from a broader perspective. Fib, 0.618 @ ~1848 is a potential target in May before a deeper correction. About Gold Next Week # A weekly 3-10-minute forecast video on Gold's price action on a weekly basis. I'll follow up with...
As we yesterday correctly predicted breakout above 1800 USD and hitting target of 1805 USD, we would like to update our forecast. RSI and Stochastics remain bullish while MACD is neutral. Previous resistance at 1799.16 USD became new support for gold. We believe that gold has a chance to maintain its momentum and possibly hit our previously mentioned medium term...
Keep this chart in mind. Descending trend line has 4 touches. Next time price goes up, it will break the trend line for sure. I’m bullish on this.
Brand new inverse head and shoulders pattern forming. We could see a potential breakout to the upside from here.
Forecast: Price action is a bit stuck and out of favor. Downside target's @ ~1725, ~1716 or ~1707. Upside target's - retest of last weeks high @ ~1757. If bull's get the upper hand and momentum pick's up, look for target @ ~1785ish. As always, keep eye on Bond selling. Trade safe, be well... I'll keep you posted. About Gold Next Week # A weekly 3-10-minute...
Hey there GOLD wait to big breakout here ! we see double bottom here, when price break our neckline we just open long position here I expect big movement in the gold. Chart explain everything. I will add target here please follow and like !
Forecast: If price action follows up on the Truncation/Double bottom pattern, then we can expect a countertrend ABC / Zigzag pattern. B-wave, pull back target's between ~1712 or ~1699. Final bullish C-wave, target's @ ~1776 or ~1787. If price action picks up bearish sentiment and breaks low of ~1678, then target's to look for @ ~1662 or ~1655. I'll keep you...
Helle dear traders, Everything is marked on chart! Please like and share. Thank you.