Overview:
The Gold market fell during the day on Tuesday, but did found enough support below at the level of $1305 to bounce slightly. The main trend of Gold is bullish on charts and the $1300 level is looking a strong support level, at this point in time buyers are still interested in in the precious metal . The primary trend of Gold is bullish on charts. On its...
Careful, we are in a consolidation phase.
If the price break the resistance, we expect that resistance become a support then an uptrend will start.
But if the price does not break the resistance so we are looking for a sell oportunities.
(more info in chart)
we have 2 time frames here for mid term and long term analysis.
Daily
- We have a almost complete head and shoulder pattern, if things go according to the head and shoulder pattern, we should expect a nice downfall from this point and on
- RSI divergence
- MACD divergence
4hrs
- Broken trend line with a retest already done
- RSI finally heading down after...
We have a Bearish bat pattern in play here with overbought RSI. keep your SL tight and your position relative to your account size, great R:R in play here.
Expecting the channel to break this time as DXY is rallying, might retrace a bit towards the greenline, will open a sell position regardless of the retracement, pretty good ratio.
Look what we've got based on Monthly descending bullish channel
1M: Bullish channel (not wedge) resistance sustained
1D-4h: Reverse price bar on 1D with DIAMOND TOP and H&S, SHS or Head & Shoulder figures formed on top for reverse and move the gold to new low
Some details and multiple timeframes charts would post later
Gold
1233.39
Market managed to sustain drop where tested 1225 zone while as we see over the chart market will face support zone at 1215-20 for the uptrend line.
as long as market holding above support 1215-20 another rebound toward 1245-50 may be expected
below 1208 market will face new drop pressure to head for testing 1190-95 zone
Support ...
think the correction is over and the 5th wave began and the target 1300 or more
if you dont wont to keep it all the way
bay every correction
trade with care
Overview:
Gold futures edged higher in European trade on Thursday, after minutes from the Federal Reserve’s latest policy meeting underscored caution about future rate hikes. Gold Comex division tacked on $6.40, or 0.52%, to trade at $1,230.20 a troy ounce by 06:59GMT. A day earlier, gold lost $5.80, or 0.47%.
On technical chart, Short term trend of Gold is...
We find touching @1256.86 and retesting this price agine
AND
in other side we also find same resistant @1274.39
BUT
depending on basic and news analizy
i think we will see broke and SHORT enter @1256.86 with main target @1248.09
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![XAUUSD: Longing yellow ingots [XAUUSD]](https://s3.tradingview.com/v/vYwAgbZx_mid.png "Longing yellow ingots [XAUUSD]")
