Good Evening and I hope you are well.
Gold
comment: Strong buying today and bulls made a higher low and higher highs. Please have a look at my chart, which contains my next best guess on what could happen. 2375ish has enough targets to be a magnet above but I don’t think we can get there without a pull-back. A retest of 2448 is still very possible.
current...
5.10.24 This video focuses on reading price action and patterns mostly on the dxy but then we took a look at gold which is a bullish market. I will try to do a video on Saturday to look at silver which I didn't get to on the video. I'm not not so sure we're at this point yet but at some point if the metals keep on going higher the silver is going to go a lot...
The gold price should retrace a good bit further within the framework of the orange wave iii. Then, a small countermovement should set in, which, however, should be quickly followed by a further sell-off. After the end of the blue wave (i), we expect a (corrective) rise.
On Tuesday, the price of gold stabilized as mounting geopolitical tensions spurred demand for the safe-haven asset.
Escalating protests against Israel’s presence in Gaza, Russia’s initiation of a new conflict in Ukraine, and concerns regarding potential disruptions in global trade have heightened the perception of geopolitical risk.
The decision by BRICS nations...
Good Evening, I hope you had a great weekend and you are well.
overall market comment
Very slow and range bound trading day in most markets, so only a short update today because my nothing in my weekly premise changed today.
gold
comment: Market is forming a triangle and since we are near the low, bulls are expected to buy it above 2312 to not make lower...
Market participants will also be closely watching comments from Fed officials next week. The chance that the Fed will adjust policy in September remains slightly above 50%, according to data from the CME Fed Watch Tool. Market positioning suggests the dollar could face selling pressure if Fed policymakers leave the door open to a rate cut in September.
...
Gold Futures, it's nice to see a strong buying reaction at the price of 2343.
There's a significant accumulation of contracts in this area, indicating strong buyer interest. I believe that buyers who entered at this level will defend their long positions. If the price returns to this area, strong buyers will likely push the market up again.
The S/R zone from the...
2258 support held, but 2340 is now offering resistance. We have Buyers pushing the prices up for sure, see the GREEN UMVD started last week. We have gREEN Bars but TrapZOne is still RED>
As we witnessed gold price failed to hold ground and got rejected multiple times from the resistance region of 2335.00 to 2342.00 to 2310.00 area. On chart it is clearly visible that price is heading to test the green support zone of 2278.00 to 2288.00 where SMA 200 also provides an additional support.
Bullish trend is valid till the price of Gold is stable above...
Gold recently sold off after falling below its ascending wedge, but looks ready to make a recovery after breaking above a descending trendline. I'd expect upside from here, or a retest of the trendline before moving higher.
- Quite a run on gold
- Left a lot of inefficiencies behind
2 potential targets annotated on the chart
Gold can take its sweet time to accumulate shorts
This week will be interesting, potentially choppy
*ONLY MAJOR LEVEL* also refer yesterdays level
if Sustain above 2365.3 then bullish then 2375 then 2383.1 then 2395.3 to 2399.4 then 2411.8 to 2417.1 then 2420 then 2420.9 above this more bullish
if Sustain Below 2360.3 or 2358.2 below this bearish then 2346.3 then 2338.2 to 2324.1 below this more bearish
Consider some buffer points in above levels.
Please...
if Sustain above 2343.9 then 2347.1 then 2351.1 to 2352.3 then 2355.4 above this bullish then 2358.4 then 2362.4 to 2363.7 then 2366.9 above this more bullish
if Sustain Below 2340.8 or 2339.9 below this bearish then 2335.9 then 2332.4 then 2329.3 to 2328.6 below this more bearish
Consider some buffer points in above levels.
Please do your due diligence...
Daily reversal candle after a breakdown on a daily chart. In the event of a daily closing breach of the support levels (red lines), there is a possibility of further downward movement, emphasizing the importance of implementing risk management strategies.
Technical Momentum Strengthens
Gold Futures hit an all-time high in 2024 at $2,448 on the June futures contract on April 12. Since then, futures have corrected; however, gold remains firmly above the rising 50-day moving average at $2,294 and well above the 200-day moving average at $2101. The technical perspective shows momentum studies increasing, with the...
Was looking to buy gold earlier but my rule is to let a 15 min timer after news expire so to allow for a cool down.. Would have already been in profit though.
Rules are Rules
As im typing this the order triggered, updates as follows
COMEX:GC1!
"Excellence is not a singular act but a habit. You are what you do repeatedly." -Shaquille O'Neal
Yo Family I hope all is well. Here i'm going to lay out a few different reason why we may be able to CAPITALIZE SHORT this week on GOLD... This is what we do and we highly skilled at it too... Let's vibe out!!
I study the DXY very very closely as it...
Traders see a 64% chance of the Fed cutting interest rates in September, according to CME's FedWatch tool. Lower interest rates will make holding non-yielding gold more attractive. Data on Friday showed that U.S. job growth slowed more than expected in April, while year-on-year wage growth fell below 4.0% for the first time in nearly three years. New York Fed...
