Top should happen end this week or beginning next one (monday - tuesday)
That would mean futures arnu 1880-1890, with DXY (dollar index) 102-103 points.
After that a correction for a bullish continuation. Bull is here to stay and could probably see again the hights of previous years this spring.
So.. GDXJ around 41$-42$ also.
GDX around 33$ too by the end of...
Gold continued to push towards the upside last week and is reaching key resistance region at 1880.
Momentum has been relatively strong only the weekly chart and we expect Gold to experience some retracement since the 1880 key mid range resistance is reached...entries should only be entered upon confirmation
Gold moved opposite to the dollar in 2022. Since the greenback has been strengthening against major currencies, the gold did not perform very well and reached a low of USD1,618 (COMEX Gold Futures) before recovering by the end of the year. However, things might change in 2023 and there are several important factors supporting the gold price. We might expect gold...
While the forecast on small degrees, which is updated here on the 7th of each month, continues to come true, let's talk about the future, not about trading. So, the ending diagonal in a cyclic wave "V" is forming, with the alternative being impulse. These calculations are very similar by the nature of the expected movement, with the only exception that impulse (D)...
My research suggests Gold may continue to rally above $2079 in early July 2023.
I believe the current US/Global market crisis event is very unique - something many people fail to understand.
Many professional analysts have gotten married to the 2008 market collapse scenario. I'm watching dozens of posts on social media and other sites where everyone is uber...
Hey Traders so I figured because it's a new year why not start the year off right by setting us up for success. Having a trade journal or Trading Business Plan may be one of the most overlooked aspects of trading. However in my opinion it will separate those who are successful from those who are not. Trading is a game of probabilities and odds. Mistakes made are...
As you see on the chart we could have an uptrend if we have the breakout with strenght the vwap indicator and the resistance line by a big green candle with a large green volume. In other hand, we could have also a downtrend if we have the breakout with strenght the vwap indicator by a big red candle with a large red volume. Thanks.
GOLD FUTURES
As we said in the previous analysis, he penetrated the strongest resistance zone, or a very strong display area, and he went up, and we could see a very strong retest, and who was aggressively climbed to the previous summit
Gold prices appear to be forming an Elliott Wave diagonal pattern.
This pattern is confirmed on a break down below the support trend line near $1820.
If this is a leading diagonal, then a correction to $1710 is considered the next "normal" move.
If this is an ending diagonal, then a correction to below $1620 would be expected.
This pattern is valid so long as...
The analysis is still looking strong from the last time we did one on Gold
Cup and Handle is still in play and 7 > 21 >200 MA
Target $1,935
BULLISH!
The rally in the gold market this week comes amid the shaky global stocks markets and worries about rising Covid infections in China continuing to crimp the world's second-largest economy. The key outside markets...
We are now backtesting the weekly trendline and reached the weekly upper BB. In my opinion it's time to take profits and (possibly) collect shorts. They could go a bit higher to spike through the trendline first.
Getting above 1900 on a weekly close would be very bullish for gold and we could see all time highs in 2023. My guess is a pullback here at least for...
It is possible setup is forming in GOLD for a short position.
Under the Basic scenario, there was wave 4 (flat shape). There is a first impulse to the upside has been finished, not the corrective decline in the process. As usual fibo levels are used for the possible end of the correction (50%-61.8%).
The Alternative scenario has the same direction from the...
