Gold has broken to the pattern on lower side and closed bearish on daily timeframe.
More downside in coming days.
Target 58500.
Stay safe and trade safe.
Note: The above is not a trade recommendation. Consult your financial advisor before taking any.
DXY weakness translates into strong gold and now with fears of dollar losing reserve status and Russia buying record amount of Gold, there is a confluence of indicators suggesting now is a good time to be long gold over the next year or two
4.13.23 ES GC1! There is one part of this video that was sloppy.... I tried to insert an extension on the gold chart. I hadn't really looked at it since yesterday and certain things happened that I didn't realize ...And I got caught off guard as I was running out of time. I will make the clarity on the next video and you will understand what that issue...
4.12.23 We started with a look at coffee which made a new high On a swing that went to the top of a range box where we would look for a reversal. Then we took a quick look at cold that reached its HKEX:4 ,000 target.
Like James Bond, gold seems to prefer shaking to stirring, as its recent movements suggest. In the course of wave B in turquoise, the metal has been bucketed about quite thoroughly and still has got some room left to expand the current ascent. As soon as wave B in turquoise is finished, though, gold should turn downwards and resume the overarching descent by...
GOLD Weekly Analysis:
It has been trading in range for 980 days = 980 /365= 2.68 years approx
Previously trend has been in upward momentum and then it went into consolidation(sideways) or can be considered accumulation as it is bullish rectangle.
Ranges are good to trade as markets are in equilibrium and can brake either side but here the probability is high...
In this update we review the recent price action in the #Gold futures contract and identify the next high probability trading opportunity and price objectives to target
Good news for goldbugs: GC Gold futures is projected to take out $2,000.
Bad news for goldbugs: I still believe that both price action and fundamentals are short/medium-term bearish on gold and that this swing will amount to an exit pump before lower prices forecast in the below post are achieved.
Gold GC1 - Discard Greed, Enjoy the Tranquility of Rationality
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4.11.23 Coffee Is probably moving higher from an established support level. I wouldn't trade oil right now, But it's showing a price action that suggests it's going to expand outside the coil and that we should be looking for an opportunity trade this market.... and we will know it when we see it, It may be good for buyers or it may be good for sellers.... we...
4.11.23 In this video we're going to do a follow-up of the previous videos yesterday when oil gold. The gold actually found the support we were looking for after the video was published.... and the market went up about 2500 points even though I would have expected the market to eventually move to the top of the range box. If we had already been in the market...
4.10.23 I am going to talk about gold on this video where I believe you should be looking to be a buyer. I ran out of time so I couldn't get to the ES into oil. They will be next. I'm trying to fit the pieces together to show how to use range boxes and how to look for some of the tools that I use And I want to add some detail to how I use those tools and make...
Recap on my position on the GOLD (GC) that I have in my portfolio with the physically replicated ETC XAD1 on the Frankfurt stock exchange.
From WS Italy:
Ole Hansen, Head of Commodities Strategy at Saxo Bank, said:
“Overall, we expect a favorable 2023 for the gold market, supported by recession and equity market devaluation risks: an eventual peak in central...
