Trend breakout to the down side.Gold has been trading on a uptrend for a while on the H4 timeframe. It recently broke out to start a down trend. Currently it is trading under resistance which became a support area and heading towards 2,294.
Gold Continues Higher . . . Look for Small PullbackWhere are we today? We are in a rising wedge . . . and there is a risk that gold eventually breaks this primary trend levels . . . but, if past is prologue, then we should see a 15 minute retracement into our next buy at the 4 hour HWB long setup. . . around 2391-2393.6 area.
Gold versus SilverGold versus silver hitting a massive support area at 75.
This is why silver's ascent is halting versus gold.
#gold #silver
GOLD analysis Gold began the week with a downward trend but has seen some recovery. This movement is influenced by the weakening US Dollar, driven by disappointing PMI data that indicates a slowdown in private sector growth. Additionally, a lower-than-expected GDP growth rate and persistent inflationary pressure
GC1!_Short-Term TrendGold could get one more poke into the green box extension area noted on the chart, but as price continuously tries to confuse us, I actually think a c wave subdivision of the Minuette (v) Ending Diagonal is likely and warranted, here. I have zoomed out to show some fib confluence at the top end, so
Selling is done in GOLD?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>
Good Evening and I hope you are well.gold futures
Quote from last week:
bull case: Bulls continue inside the wedge and buy every dip they get. 2450 obvious magnet above. I won’t make this longer than it has to be. Weekly and monthly charts also just give bullish signals for this. This month is still an inside bar on the monthly c
Gold shock correction nears endMarket 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 policy
GOLD FUTURES : OUTLOOK This is the same idea. as previously posted but on the futures chart. It seems price is already at our entry on the futures contract chart.
"May fortune attend thee, and thy trade prosper." .......L2Earned
Gold - Next Move Should Be UpThe fibs and structure seem to be aligned and complete... I think the wave down is complete, and we should see ABC or a 1-2 up... once that structure develops we can start to project the movement.
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