gold is looking to close the gap. I believe gold will buy up to 1683 - 1684 consolidate the area and return back down to previous support resistance zones.
Providing Weekly Support and Resistance levels for next coming week based on Central Pivot Range and its major support & resistance levels of week, where price can take support and face resistance. Three black lines indicating weekly Central Pivot Range. Previous week high & low also performs as a major support and resistance levels. Can take long & short...
Technicals are shaping up for a strong bull move, as for technical we have Price divergence and MACD Divergency, so the technicals are showing an upside, also while big institutions are buying gold by the bucket and hedging against futures with options, this suppresses the price.
Now what concerns retail investment, we can start positioning to the long side and...
Gold broke out of the 1644 minor support region and fell towards the 1621 key support region, as per what we analysed in our previous post.
The extended bearish momentum (in the lower time frame) which began from 1679 resistance region towards the 1621 key support region provided an opportunity to take a long position which I personally took.
The price...
Gold and Silver could move dramatically higher after the US Fed comments and the shift in how capital seeks safety.
Precious metals have been consolidating downward for months. Now, it appears the Feds comments have shifted how traders/investors view precious metals. It is very likely this shift may prompt a very big upside price move.
As traders suddenly...
Gold spiked higher with a weak rally testing and breaking $1640. The Kovach OBV has picked up slightly, but we have no indication of any serious momentum that can take us up to our target of $1683 just yet. We still must break through $1658 and $1670 first. A red triangle on the KRI is confirming resistance at current levels. We anticipate $1629 to hold as a...
GOLD FUTURES
A very strong plunge of gold to a very important point. If broken, it will continue to fall very strongly. The MACD indicator shows us that there is a very strong prospect of falling to our levels.
As Gold has been in a down trending market since the March highs, we can now see an inverse head and shoulders pattern and a potential low to be forming. There was also bullish fundamental news from the World Gold Council that central banks bought a record amount of Gold in Q3 of 2022, and a potentially large number of unreported buying. There is a great slate of...
Gold has fallen below the 50-month MA (thick blue), 200-month MA (red), and is below all of the major monthly, weekly, and daily moving averages. It’s in a well-established downtrend channel after a major double top breakdown with a retest. The green line pointed to by the green arrow was a potential major uptrend line which was broken and retested. The next...
Hey Traders here is a quick video that explains how to use End of Day Trading in your trading strategy. Learning to trade without emotions getting involved during the trade is important for developing discipline. I think that learning to trade when the market is closed is one of the best ways to achieve this. Also using japanese candlesticks with support and...
Elliot wave projection of GOLD futures, indicates that ongoing wave (c3) may test $1440.
Consider not buying gold in physical, and shorting in futures adviced
GOLD FUTURES
Gold made a sharp and strong landing and broke us a strong 1641 JED demand area and came down hard and had bearish goals in case it continued to fall.
