GOLD FUTURES
The market made a strong drop as we analyzed it and went back from the supply area to the strong demand area and from where we will determine a strong new direction
Gold 1-Day Chart After Breakout Upper Descending Symmetrical Triangle Trendline with the high volume we can expect the price will go again the previous resistance zone of the timeline downtrend.
We have been stressing that Gold will experience a slowdown in momentum. Momentum fell but managed to maintained above the 1740 key support region.
Gold was trading at the key support region and had a momentary breakout but was swiftly recovered as buyers came into bid, creating a bullish pin bar as indicated on the chart above.
All these confluences...
Gold future tested level 53000 quite a few time and making cup n handle pattern on a weekly time frame.
Relative strength index turned back up after touching level 60.
Broke the trendline, retested the level and heading back up on 4 hour time frame.
If it breaks the level we can see level 59900.
We consider gold, with its unique behavioural traits, to be an important building block to consider for any portfolio. The metal’s price can behave defensively which is typically very beneficial in times of economic shocks and it also tends to respond well to inflation which can be beneficial in times of economic growth. Like any core component of a portfolio, we...
there is a high chance due to the fed policy in increasing the interest rates to 5% .
technically gold creating double top in the weekly chart which indicated a long term retrace before the bull move for the gold.
gold may retrace to 1480-1500 by early next year before summer, fib channel.
is this thing that has traded like a boat anchor, as much of a boat anchor as Bitcoin . More or less not moving at all. Yet, as with all things, consolidation periods only last for so long before the volatility picks up again to draw in new attention.
This chart is a huge amount of time and very wide ranges and so it's very hard to stuff the important info into...
I guess our level worked well over here. Indeed it was a good a day to go short on Gold:
Gotta love it when the chart works well but what's next?
1750 rejection at 0,61 Fib level and new stop loss right above it.
Take profit targets are:
1725 (83% of getting there)
1710 (67%)
1688 (59,8%)
1670 (38%)
There is also a probability of 39% to see the price break...
As mentioned on our previous post, Gold's momentum is expected to slow down. Price retraced back towards the inverse head and shoulders neckline which is also supported by the 50 exponential moving average (EMA) in the 4 hour time frame. A reversal confirmation at the region of neckline support will indicate a continuation of the bullish trend while a breakout of...
Hello and good night friends
Gold seems to be still in a corrective pattern.
But the rise is still not likely (if the price crosses the invalidation analysis, we will see the rise)
And there is a possibility that it will turn into a triple zigzag
Good luck and be patient in your dealings
Hi guys
This is a simple scenario to Gold
First step
Gold will correction to 1733 (50%)
Then
it starts bullish to
1: 1800 resistance line :T1
2: 1835 Double Bottom : T2
3: 1917 Bullish crab pattern : T3
If Gold decline below 1730 and close candle in H4 Next Target is 1680
Fundamentally This analysis works before Wednesday , after that, should be updated
