Gold price is widely followed in financial markets around the world. Gold was the basis of economic capitalism for hundreds of years until the repeal of the Gold standard, which led to the expansion of a flat currency system in which paper money doesn't have an implied backing with any physical form of monetization. AU is the code for Gold on the Periodic table of elements, and the price above is Gold quoted in US Dollars, which is the common yardstick for measuring the value of Gold across the world.
Traders,
Assume that market is going to give buyers opportunities now. But still need more powers to break the purple trendline first.
The rally on Friday is giving us some clues.
1. The lowest low is 1211.
2. Next resistance zone there for wave 1 up to is 1326.
3. Some sellers would probably try to short gold again around 1236 .On that case, it will make ...
I expect a correction of the fall
On the daily chart you can see the formation of the pattern of the head of the shoulders
This figure will allow to test the resistance zone
Gold could pullback into the 1223 to 1225 area before continuing up.
Weekly RSI at lowest levels since Jan 2017 when it was trading at 1120-1140 which is a hidden bullish divergence
After a sharp reversal off the key trend line in April, gold broke through the first key trend line to the downside & is now testing a key pivot level. ~$1200 was a key pivot throughout 2016 and 2017, and also has the 50% fib retrace off the 2015-2017 climb to back it up. Taking the same slope angle as the previous trend & placing on the 2015 lows lines up nicely ...
Gold price is widely followed in financial markets around the world. Gold was the basis of economic capitalism for hundreds of years until the repeal of the Gold standard, which led to the expansion of a flat currency system in which paper money doesn't have an implied backing with any physical form of monetization. AU is the code for Gold on the Periodic table of ...
Weekly Chart:
It still considered a bearish candle, but the tail of the candle got my attention. This is the longest tail since April 2018 showing that the bulls fought back strongly at this point. One more thing is that the price is approaching the strong support around @ 1210 and almost close to really long long-term up trend line since June 2006. So, I am not ...
Love it ... Long Term - 1500
Buying Level : 1131 - 1208
https://www.nytimes.com/2018/07/20/business/trump-fed-china-economy.html
https://www.federalreserve.gov/monetarypolicy/files/monetary20180613a1.pdf
https://www.federalreserve.gov/monetarypolicy/files/fomcprojtabl20180613.pdf
