Falling Wedge has formed on Gold since April 2023.
This has been a turn for the good.
We've seen the price breakout and now we can expect the demand to continue.
7=21>200 - Bullish
RSI >50 (Buy divergence with the level breaking the downtrend.
Target $2,081
This will reflect on gold companies too which we can be bullish on. Happy to go long here.
GOLD is giving a Buy Signal (Long Position) for the daily time frame. we are expecting it going up
these next days as we have shown in the chart. we set Stop at 1899.3
this is a setup that was formed in gold using my indicator..
that target was achieved..
this is just for learning..
not a trade advice
just paper trade/
In this live trading session,we look at potential trades setting up for the week and open positions on Gold,GBPUSD,S&P 500,Brent Oil,Bitcoin and many more.
Everything about this magical metal proves to be pumped up in the short term.
Due to the clearing of orders at the level of 1942 dollars, I am waiting for the failure of this level...
it already triggered entry at 58500 it may consolidate or may go upto 60000 so this month range is 57000 to 60000... and sold goldm 57000 pe at 170 and by putting stoplose 56000
DX x ZN opposite correlation yet to prove witch one is right.
CL only above LVA of 2022 to resume up again / don't forget that there is a war on this one.
GC entering seasonal up till Sep 04/23.
Please listen to the video for more acurated points on all of them.
Thanks.
The Gold / Silver ratio is holding support at a trend line and the 50-day moving average. It must break this support to signal an improving risk appetite for precious metals.
I'm going out on a limb here before FED minutes today, but here is a daily chart analysis of gold in USD:
Gold is typically seasonal, selling in late first or second quarter until third or fourth quarter. Despite recent selling, gold has held remarkably well in light of a hawkish FED.
The good news:
Gold has bounced off its rising 200 day EMA (red moving...
Hello traders,
this week maybe interesting in gold, looking at the 4H chart, it still consolidating in after it found its support at around 1912, strong mouvement to the last trend line of the pitchfork and the bleu resistance area, where it got rejected with an interesting volume in both. for me i only buy gold, therefore i am searching only for strong buy...
It's not that I am fundamentally bearish on gold. Actually, I am fundamentally bullish on gold.
But it's because I think the fundamentals of gold are bullish that this commodity is not bound to pump while the MMs have tipped their hands that they're going to sell Artificial Intelligence and Chinese Communist Party garbage to a willing horde of retail zombies and...
strong break up through resistance now retrace 50% fib.
previous resistance now become support
also if you check momentum indicator like MACD you will see bullish divergence
gold has a weekly gap at 1870
and a strong support at 1815
also the macd shows a potential downside of 4-5% based on the above technicals
mentioned
inflation on may rose 0.1% which will strengthen the DXY index , and historically speaking they have an inverse relationship with the gold price.
dollar will be weak gradually and slowly when the inflation records 3% or less
