Gold trade to new recent high earlier the week towards 1820 but momentum slowed as the Dollar regained some of its strength.
Seasonally, Gold is strong at the end to the first few months of the next year.
Value point of entering long position would be at 1747 support region.
IN this update we review the recent price action in the Gold futures contract and identify the next high probability trading pattern and price objectives to target
Bullish.
The beginning of a long (months ahead) bull phase to new all time hights.
Still early to know, but that is what I give more probabilities.
That means no more 162x or lower. That means important bottom in place.
No room for more down side. Also gold has corrected againts dollar, properly.
For the coming weeks (november) two scenarios and both...
Gold and Silver is money, everything else is credit – JP Morgan
Primary Uptrend
This guy is not just flaunting these assets but the primary trend in this chart unearths the truth behind his statement. Really strong trend since our childhood – of course not fully visible due to data limitations. A furious rally started since March 2020 dip and took it to 56191...
GOLD FUTURES
Strong and good decline, but gold couldn't fly the support zone, which is a very strong demand area, and in case it did, we could see a sharp decline
Market looks incomplete with possible fed "pivot" or reduction of rates from 0.75 to 0.5 BP in next weeks DEC FOMC.
Dollar DXY retesting its 200 day moving average from underneath. I like the prospects of dip into 0.618 of recent impulse to 1752-1757 range on GC futures; subsequent buy to -0.27/-0.618 (1853-1891). should be an easy trade until end of year. NULL...
Gold Ascending Triangle Formation
The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend, but they are typically continuation patterns. Regardless of where they form, ascending triangles are bullish patterns that...
Gold is doing what Gold always does in a Deprecionary Cycle Phase - sets up a momentum base, then start to build a momentum rally.
Current base level is near $1670 to $1710.
Normal rally results in a $400 to $475 rally phase before exhausting.
My initial targets, $1860 & $1899, are just the first stage of the rally trend. Upside targets for exhaustion should be...
GOLD FUTURES
Gold made a very strong rise to the strongest areas of the show, and in case we saw the summit penetration that he achieved, we could get another rise
In our previous post, we have highlighted that Gold is likely to continue towards the upside due to the technical confluence that it was displaying.
Gold had a good run towards the upside, reaching the 1820 key resistance region.
However, price is over extended and may experience some pullback for the Daily 50 period Exponential Moving Average to catch...
Yellow highlights show two very similar patterns in gold between the 2018 FED rate hike cycle which followed a January 2019 pause. This scenario forecasts a peak to prior high in October 2023. Gold has been closely tracking 2018 pattern all year.
Hello ladies and gentlemen, according to my chart analysis of T-BOND FUTURES (GC), there is a high probability of a decline towards the 1763 levels that we have seen before. We will see this level again with a high probability based on my analysis.
