Strong support in the $ 1550-1530 region
Current concern is resistance 1583. If break through this resistance, you will see a previous high of 1588
No matter what the reason for gold's rise, the price of gold still seems to be trying to move closer to the $ 1,723 level. Prices usually do not rise in a straight line, so it is expected that some pullbacks will occur as the upward movement continues.
If the Fed maintains the current interest rate, enter the market long
Precious metals industry may adjust slightly or consolidate in February , but this will not change the long-term trend of the precious metals. The fundamentals of the industry are still strong
After our buy call before , Gold price now is 1575, Good profits ! we now look for sell high Target to the box area
Look to sell Gold on the box (after CNY) target to the 138 moving average and than buy on the MA look for new high on March ....
Gold has not yet broken through the resistance of 1567. This is the second time that it has not broken. This is the 50% Fibonacci retracement level since the fall from the high. If this resistance can be broken, it will be bullish to 1570, 1580. If the price continues to fall, the more critical support below is 1560, followed by 1550. From the daily chart, gold...
short gold now is crazy, gold just retest and move for more upside
Gold has been trading above the 38.2% Fibonacci retracement level of 1548 for 6 days, which implies that gold's rising momentum is strong. If the price of gold continues to rise, the closest resistance level above is the Fibonacci 23.6% retracement level of 1572. After the breakthrough, the price of gold may accelerate to rise, and further resistance levels are...
Look at the dollar . From the six-year chart, the dollar continued to fall below the resistance area and fell below the 16-month uptrend line. This is also the main reason why gold broke again. If the dollar fails to stop the decline, it may fall further down the horn pattern. The sharp fall in the US dollar will provide huge momentum for precious metals and many...
Although gold has fallen more than 1% this week and may fall further before the agreement is signed on Wednesday but Chinese New Year is coming, the demand on physical gold always bring up the Gold price
All on the chart , noted that The World's Largest Gold ETF—SPDR Gold Trust Position Report Increase 19.33 tons on January 17, 2020 There will be strong bullish Trend during the last of Jan ( Chinese New Year demand on physical Gold ) This bullish will until the late of Feb, around @1675 @1700, after that we can Sell gold for long term, Chart showing some resis...
For my analysis, Gold may touch 1583 at least before CNY come, there are 3 ways for trade Gold Short term: buy gold now $1550 above, any area you want TP $1564 /$1573 / $1583 Long term: if Gold strong enough , it may break up the purple line and repeat the double top patterns that i highlight ( it happen maybe during CNY) Look for Long term sell ...
Resistance has been test in four times , i think today will break out this resistance zone and at least up to #1563-1566
The United States and China signed the first phase of a comprehensive economic and trade agreement between the two countries on yesterday, but gold haven't drop too much and get well on the support zone. Highlight zone is the good area for buys, Gold should keep up movement before Chinese new year, it may test #1564 #1573 #1613 in coming days, if close above 1555...
Gold will not going too upside with the large short position held by the commercial hedgers For my opinion , gold may not get above 1533-1535 area , there will be some bounce in late October -early November because of the India festival on gold, after that It may drop and re test the 1415-1450 area than back up to 1600 -1700 area