GoldenCrossGlobal

GoldenCrossGlobal

According to Reuters, the Americans filing new claims for unemployment benefits declined further last week, while layoffs dropped to their lowest level in just more than 21 years in July as companies held on to their workers amid a labor shortage. Initial claims for state unemployment benefits fell 14,000 to a seasonally adjusted 385,000 for the week ended July...

GoldenCrossGlobal

Gold is moving as I predicted in my last chart. Please see the image below: Here are some Fib retracements in 1H chart. Overall the technical trend is downward in Gold, however it will do some upward action for short period, especially from 1800-1802 levels to 1827-1830. A long position can be open at that level, with SL at 1793. Breaking 1790 is key for...

GoldenCrossGlobal

Gann Box is an awesome tool to spot key resistance and support areas with Fibonacci levels. As you can see, Gold has been respecting 68.1%, 50%, 38.2% levels several times in previous weeks and months. This time as well, after facing severe resistance under 1833 level, bears have taken gold down again and the key test once again lies at 1800 level. However, it...

GoldenCrossGlobal

Gold's correction in response to yesterday's rally is going on as I predicted in my previous post. 1819 is the key level (EMA 50) if it breaks, the gold can go further downward to 1805. 1833 is key level on North that can take the gold to next level. Please like and comment if you like the idea.

GoldenCrossGlobal

Last night's press conference of Fed Chair after the meeting Federal Open Market Committee (FOMC) is showing its results in strong upward movement in gold prices. On 1H chart, it is clearly heading towards 50% Fib level of 1833 where we might see some consolidation and possibly reversal towards neck line at 1810-1815. Today another wave of volatility is also...

GoldenCrossGlobal

Here I tried to show the movement of the day when Fed announces its unchanged Interest Rate decisions during the last 6 times. As you can see, the gold prices had been quite volatile during the last Fed decision on June the 16th and shed 1.45%. Since then, the yellow metal has not been able to overcome the loss and is in the downward trend. Please note that...

GoldenCrossGlobal

Gold is playing games before the FOMC meeting due tomorrow, but yet we can wait for today's closing. It looks like the Gold might be able to get below 1800 at closing tonight. Hold your positions; short or long. Tomorrow some serious " air pocket" is expected in Gold prices. There are also high chances that the price may touch or even cross 1812, then 1819 and...

GoldenCrossGlobal

Gold is going through serious breakout pressure from its range 1800-1812 and key level of 1800. FOMC Meeting is scheduled for tomorrow, and as several analysts are predicting, no serious change is expected in the interest rate. A pitchfork analysis gives key U and L levels that are key support and resistance levels. We have seen 1807 acting as key resistance...

GoldenCrossGlobal

As predicted in my previous posts as well, Gold is ultimately heading towards intense selling zone below 1800. If it closes tonight below 1800, this will be a severe bearish signal with possibly reaching to its first support level of 1790 and then reaching to 1770, with few spikes over 1800. If you are short on Gold like me :) chill out and hold your positions...

GoldenCrossGlobal

Gold has shown consolidation at 1800 during last few days however the technicals are favoring a downward trend, most importantly the S1 at 1794. In my humble opinion, bears will be in power this time and may take it to further deep at 1785-1780, a level which buyers are eyeing on. Some important fundamentals are due today and may alter the metal price accordingly....

GoldenCrossGlobal

Bears ready to take gold for a deep dive :)

GoldenCrossGlobal

The death cross formation is on its way. Another dip is expected to 1790 later today or tomorrow. MACD RSI STOCH RSI showing overbought conditions on 1H. If you like the idea, please like and comment.

GoldenCrossGlobal

This week is going to be exciting - slightly more exciting than the last one. Gold movement have faced Fib 50% level resistance and the downward trend has started after the breach of Fib 38.2% level. Almost all major indicators (MA, MACD, RSI, CCI, LSMA, BB) are pointing towards 23.6% level which 1790 . If you like the idea, please like and comment.

GoldenCrossGlobal

Gold had been sailing quietly since markets open today. So far, I am expecting a spike in its prices at least to 1830 before dipping below 1780 in next two days. It won't be a bad idea to open a long position at 1800-02 and then short at 1825. MACD, Parabolic SAR and then the formation of death cross is pointing to an upcoming fall of price in the metal :) Oh...

GoldenCrossGlobal

Can you see that the trend is creating a head and shoulder formation in Gold's 4H movement? Yes it is and this is another very important indication of upcoming major sell-off trend, pulling the prices downwards and possibly breaching its major support at 1770 and then 1750 and ultimately cooling off below 1700. The upper major resistance is 1827, and a point where...

GoldenCrossGlobal

Gold's mild correction to 1827 Fib 38% is a possibility in coming few hours which is confirmed from LSMA 200 and 50 golden cross and Stoch RSI selling spree indication. However, eventually the channel is building a downward trend in prices for gold in coming week. You may long once the prices go near 1795 and short by 1820-1825. Good luck :)

GoldenCrossGlobal

FOMC Minutes are due in less than 15 minutes and as per reports and the technical indicators, massive selling is expected. MACD, RSI and EMAs are signaling short term bearish trend. Keep an eagle eye on short term candle sticks, especially 1m, 5m, 15m, 30m and short immediately after 1798 breaks.

GoldenCrossGlobal

Gold's sideways movement is expected today, with possible breach at R1 at 1811. That's a possibility, however my eyes are on S1 at 1780 which is far more important than R1. Keep monitoring today's movements. MACD is showing a slight upward momentum towards R1!