Hello All and Good Afternoon, sorry for the late posting however i knew nothing much was going to take place, so i took my sweet time to prepare myself and analysis.
There has been so much consolidation as i indicated last night, and as we can see the RANGING market is still on up to now however after the consolidation i'm looking at a buy entry which end closer to $2000 there and then we could see a minor fall which will then lead to further analysis. Looking at OUR 1 HOUR chart $9132 and $2001 seem to be a strong consolidating zones, so we should look carefully into our entries.
Looking at $1976 very carefully just let's pray and hope it get's broken and we finalize on possibly our last pump before having a waterfall, this us what i'm looking at but at the same time $1946 is a strong confirmation of our fall, although i highly doubt we'll experience a fall bottom line we are all Bullish as of now!
Gold prices reversed course to trade higher on Thursday, as a slightly softer dollar helped counter risk appetite fuelled by easing concerns about the global banking system.
GOLD was up 0.3% at $1,968.89 per ounce, as of 0738 GMT. U.S. gold futures
GOLD were unchanged at $1,984.70.
The dollar index
DXY
eased 0.1%, making bullion more affordable for buyers holding other currencies, while Asia's stock markets held recent gains.
"In the short term, profit-taking as well as reduced fears of further contagion amongst banks should see the gold price continue to decline back towards $1,920/oz," said Michael Langford, director at corporate advisory firm AirGuide.
Gold rose above the $2,000 mark after the sudden collapse of two U.S. lenders earlier this month, but has since retreated from those levels as authorities stepped in with rescue measures, including UBS' takeover of ailing Credit Suisse and First Citizens BancShares' deal to buy failed Silicon Valley Bank.
However, the metal "held up relatively well against the headwinds", analysts at ANZ said in a note.
"Gold continues to see strong inflows in ETFs. Volumes in SPDR Gold Shares, the largest gold-backed ETF, have surged to their highest level since October," they said.
Market participants now await Friday's U.S. Personal Consumption Expenditures data, the Federal Reserve's preferred inflation measure, for further monetary policy clues.
The Fed will make its interest rate decisions from here on a meeting-to-meeting basis and will take financial conditions into account in that judgment alongside other factors, Fed Vice Chair for Supervision Michael Barr said on Wednesday.
The opportunity cost of holding non-yielding gold rises when interest rates are increased to bring down inflation.
Markets see a 39.2% chance of the Fed raising interest rates by 25 basis points in May, according to the CME Fed Watch tool.
As indicated i'm looking at a buy sooner and nothing else, meanwhile let's see our zones broken before having them entries.
Until then CIAO!
There has been so much consolidation as i indicated last night, and as we can see the RANGING market is still on up to now however after the consolidation i'm looking at a buy entry which end closer to $2000 there and then we could see a minor fall which will then lead to further analysis. Looking at OUR 1 HOUR chart $9132 and $2001 seem to be a strong consolidating zones, so we should look carefully into our entries.
Looking at $1976 very carefully just let's pray and hope it get's broken and we finalize on possibly our last pump before having a waterfall, this us what i'm looking at but at the same time $1946 is a strong confirmation of our fall, although i highly doubt we'll experience a fall bottom line we are all Bullish as of now!
Gold prices reversed course to trade higher on Thursday, as a slightly softer dollar helped counter risk appetite fuelled by easing concerns about the global banking system.
GOLD was up 0.3% at $1,968.89 per ounce, as of 0738 GMT. U.S. gold futures
GOLD were unchanged at $1,984.70.
The dollar index
DXY
eased 0.1%, making bullion more affordable for buyers holding other currencies, while Asia's stock markets held recent gains.
"In the short term, profit-taking as well as reduced fears of further contagion amongst banks should see the gold price continue to decline back towards $1,920/oz," said Michael Langford, director at corporate advisory firm AirGuide.
Gold rose above the $2,000 mark after the sudden collapse of two U.S. lenders earlier this month, but has since retreated from those levels as authorities stepped in with rescue measures, including UBS' takeover of ailing Credit Suisse and First Citizens BancShares' deal to buy failed Silicon Valley Bank.
However, the metal "held up relatively well against the headwinds", analysts at ANZ said in a note.
"Gold continues to see strong inflows in ETFs. Volumes in SPDR Gold Shares, the largest gold-backed ETF, have surged to their highest level since October," they said.
Market participants now await Friday's U.S. Personal Consumption Expenditures data, the Federal Reserve's preferred inflation measure, for further monetary policy clues.
The Fed will make its interest rate decisions from here on a meeting-to-meeting basis and will take financial conditions into account in that judgment alongside other factors, Fed Vice Chair for Supervision Michael Barr said on Wednesday.
The opportunity cost of holding non-yielding gold rises when interest rates are increased to bring down inflation.
Markets see a 39.2% chance of the Fed raising interest rates by 25 basis points in May, according to the CME Fed Watch tool.
As indicated i'm looking at a buy sooner and nothing else, meanwhile let's see our zones broken before having them entries.
Until then CIAO!
Note
Guys i'm taking a buy entry to $1998, don't enter the market yet ,kindly wait for confirmation.Note
My buy entry is running good profits, however seeing $1998 seems hard as of now but have got nothing to loose.Note
Guys i'm sorry have not been that much active lately, kindly bare with me because as a muslim Ramadhan is a month of full devotion, this doesn't mean that the remaining months we have no devotion, okay ! what i mean here is that i'm actually practicing my faith and basically Ramadhan is a month full of offers for us.So my commitment decrease is and will be here for the remaining 22 days GOD willing and possibly by the end of APRIL i'll be back fully on trading view and YES with extra's for you team.
Meanwhile i'll try my level best to give you insights but i won't be fully committed and for this i would like to ask for your forgiveness in advance, because i have been really trying to keep you up to date but but it seems to be hard , however you will be getting the updates whenever i have time, mainly morning updates for the analysis will be there, but for the rest of the day you should kindly bare with me.
That's all for now, see you tomorrow!
Note
Hey Guys, Hope yesterday was amazing and welcome back.Today's analysis still remains as yesterday's the reason to as why i had to hold onto yesterday's post is because nothing much has changed and i expect the market to move as i had indicated earlier unless something changes in between but as of now all remain the same.
Anything could happen and the market could change, but until then my idea remains the same.
My previous entries are still in profits and i'm actually seeing the possibilities of $2000 mainly during the evening session.
That's all for now and until then CIAO!
Note
If we break $1969 within the current market, then seeing $1998-$2000 will be very impossible, however if we don't break $1969 then this gives us room for further analysis and possibly the hopes of seeing $2003.Note
Gold set for best month since July 2020 on banking turbulenceMar 31, 202306:49 GMT+3
KEY POINTS: Gold gains for second quarter
U.S. PCE data due at 1230 GMT ,Platinum prices to rise above $1,000/oz - ANZ
Gold prices edged up on Friday, en route to their best monthly performance since July 2020, as the recent banking system crisis led to expectations of a less-aggressive U.S. Federal Reserve, making bullion an attractive bet.
GOLD was up 0.1% at $1,981.59 per ounce, as of 0321 GMT. U.S. gold futures
GOLD
Gold rose 0.1% to $1,982.00.
Bullion was also set for a second consecutive quarterly gain, up 8.6% so far.
The dollar
DXY was on track for a second consecutive quarterly loss, making bullion cheaper for overseas buyers.
Gold rose above the $2,000 mark after the sudden collapse of two U.S. regional lenders earlier this month, which led to bets that the Fed might pause hiking rates to avoid a wider fallout from the global banking system turmoil.
Markets see a 48.9% chance of the Fed standing pat on interest rates in May.
Although gold is considered a hedge against economic uncertainties, higher rates tend to dull zero-yielding bullion's appeal.
But prices soon retreated after authorities stepped in with rescue measures.
THE BELOW STATEMENT was given today, when i talked of the same since the start of this week!
"There is speculation that the banking crisis is probably not over, but the issues are not immediately visible or impacting markets right now... so gold has been consolidating between $1,930-$2,000," said Ilya Spivak, head of global macro at Tastylive.
Moreover, three Fed officials kept the door open to more rate hikes, with two noting banking sector problems could generate enough headwinds to help cool price pressures faster than expected.
Gold faces a downside risk because the market expects the Fed to pause raising rates, which clashes with what the Fed has said and might clash with the upcoming data, Spivak added.
The Personal Consumption Expenditures data is awaited for further clues on the U.S. central bank's next move.
Spot silver
XAGUSD1!
was flat at $23.87 per ounce, platinum
PL1!
was also listless at $986.12, while palladium
X
XPDUSD1!
fell 0.5% to $1,457.39.
"Supply disruptions in South Africa and investment demand should see platinum prices rising above $1,000/oz," ANZ said in a note.
Note
Good Morning Team and welcome back , hopefully last week was amazing for all us , let's see what today's market has in store for us.I am done with my analysis and have concluded to remain on this same post of last week, we actually haven't had any major outbreaks so far, meaning we are still within our alarming zones, major alarms are as indicated last week for our upward movement then we should see $1977 broken, ofcs after it's been broken we should see a retest then possibly have our entries, as for our downward movement we should first see $1945 broken possibly have a retest and then we have our entries, up until now nothing major has happened although we did see a break last week towards the upward move and sadly it was declined.
The decline of the movement gave me lot's of thinking and lastly i've decided that if the same applies today then i might have to look at gold in a much deeper understanding but as of now let me stick to the shallow as always.
Our other MAJOR breaks should be 2009 for our upward movement, however the movement should not exceed 2075 but incase it does then we shall revisit, for the long downtrend that i would like to see, then i have to see $1933 broken first, once it's broken then we could be having a hell of a ride down there.
My conclusion is since there was that buy decline and as we can currently see that the movement upwards is broken in within the trend, this signals for a possible fall, however for us to be certain then we should see our breakouts at $1945 mainly.
Up until then do wish you a wonderful and profitable trading week ahead, see you later with an update.
Note
I had a buy entry at $1959.35 didn't post it's currently running profits.Note
Let's be ready, our profit season is in and i highly recommend i minor pump, before we see our fall.Note
Sorry couldn't post live but i did indicate a minor pump expecting it to end at around $2009 -15 there and then guys be cautious for any further buys, possible bull trap will be created and sadly we have a dump instead!PLEASE trade with CAUTION as we approach zone $2000.
The Pump seems to be loosing it's momentum buyers are almost getting tired of the buying, so if we break $1990 then we go further to $2005 if we don't then expect a minor fall and then a consolidation before we see our GOLD DUMP(WATERFALL) I REPEAT trade with cautioun mainly for the buyers!
Note
Looking at the above chart i posted here the market seems to be going exactly as i expected, the minor shorts and sudden move up, they actually are aligned that's the beauty of being accurate in whatever we do.Anyways GUYS that's all for today see you tomorrow INSHA'ALLAH
Note
FOR the SCALPERS that's a minor sell entry nowNote
Hi team , hope yesterday was profitable enough for you all and welcome back, i decided to stick with the same chart due to major breakouts not seen yet, we are still within the consolidation range, so we expect nothing more in this session.However i see a minor fall as indicated last night probably 9hours back aiming for mainly $1963-60 and not further, so the fall will be after the market has consolidated the whole day unless something speeds up the reaction but up to now i see the fall to $1963 during the evening hours.
We are also in the look out for a GOLD DUMP guys so just trade carefully with your BUYS as the market could change in any moment and we experience the waterfall and be sure you don't want to be on that DUMP!
Meanwhile my expectations as of now in regards to my analysis after the fall to $1963-60 then we should expect another higher pump to at least $2002 and possibly extend further there and then we should then see our fall, however this does not mean that the market will react exactly per my analysis so let's first collect the short gold to $1963-60 then from there we can confirm our pump further or even the DUMP.
That's all for now and until later do wish you all a profitable blue day!
Note
RISKY ENTRY I have taken a short fall to $1950, this is just an update it doesn't mean you take any entries. i'm actually setting up the traps now be updating soon!Note
Hi we didn't see the minor fall i had anticipated for, we saw a pump direct to 2012 and as indicated earlier we were to see that rise to at least $2002 and possibly extend further, which is currently active sadly i didn't get into the buy entry myself, but as we all know it's not the end of our journey!We've broken $2002 and extended even further this is where we look at $2075 but we are yet to establish the it's basis.
That's all for now, if i get time later i will give you an update.
But as of now i anticipate for $2035 and $2075 Gold Dump SHOULD be available once we reach these levels or maybe near the levels
Note
Hi Team, hope yesterday was amazing and much profitable and welcome back,As i had indicated the day before yesterday i was anticipating for a minor short then a pump to $2002 and the possibilities of the extension were available, so $2002 was my first take profit zone according to my analysis , second Take Profit zone was $2035 and lastly was aiming for $2075.
Today we could see $2035 and once we see it then $2075 - $2100 won't be a problem, but as of now let's concentrate on $2035 first, so on conclusions tomorrow we are having some news which will somehow determine the future of gold, will we be having spikes or waterfalls that's up to tomorrow but as of now i have added some traps at $2015 for a fall so once we break $2015 then going back to $2002 - $1950 is possible, but we do not look for the sells rather we are looking for the buys.
I also anticipated for a long downfall yesterday or maybe the whole of last week, but sadly we've not seen the waterfall yet, so we are actually working on the BUYS, seems as if we could experience some hikes before we attend to the waterfall.
For our upward movement to be strong enough we need to see $2025 broken first, then after it's broken we need to see candle pressure increase and possibly look for continuation patterns, i'm actually thinking of taking a blind buy entry, coz the buyers are so motivating today, but no we'd rather sit , wait and confirm our entries rather than making any rational decisions.
That's all for now and until then Ciao, will be back soon with an update.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.