Gold XAU/USD (Watch $1,550 region closely)

Updated

View On Gold XAU/USD (26 Aug 2019)

The market uses the Monday gap to swing the Short traders' stop loss at $1,533 to $1,550 region.
Now it has achieved its purpose. That is the reason why you are seeing the pullback right now!

It may swing back to $1,535 or even $1,527 in the form of gap closing.

The overall trend is still BULLish. It might carry a better chance to wait at support levels to go long.

DYODD, all the best and read the disclaimer too.
Feel Free to "Follow", press "LIKE" <or> "Comment".
Thank You!

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DISCLAIMER:
Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice.
Sonicr Mastery Team does not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

Note

Updated View On Gold XAU/USD (27 Aug 2019)

As we mentioned, the weekend gap up was quickly filled and many short traders get whipped in the process.

At the same time, it also pulled in impatient long entries as well and they are in-turn get trapped at the high price entry now.

I expect it to swing around $1500~$1520 and $1,550 region.

You can sell down toward $1,500 region and if you want to go long, wait for a proper price action to show up. Stay safe.

Note

Updated View On Gold XAU/USD (28 Aug 2019)

This isn't much development so far.
The view shall the same as yesterday.

Resistant: 1543, 1550, 1555

Support: 1530, 1519, 1509, 1493

Note

View On Gold XAU/USD (30 Aug 2019)

The market seems to be taking some time off after the big movement of recent weeks.
What to do! The market doesn't trend all the time.

So, if you are taking any positions, get ready for the ride.

I expect it drift lower toward $1,502 first before any push up come in. Let's see.

Resistant: 1543, 1550, 1555

Support: 1519, "1502", 1493

Note

Updated View On Gold XAU/USD (1 Sept 2019)

Did you follow our analysis on a possible pullback on Gold after hitting $1,550?
It is unfolding as we expected.

It shall retest to $1,500~$1,509 region. If you wanna buy-in, take it slow first.

Note

Updated View On Gold XAU/USD (1 Sept 2019)

We are still in the overall bullish trend.
A very severe downtrend is unlikely but we *may/can* have a decent pullback.

If it happens, $1,500 zone will be a decent TP/Support.

Resistant: 1548, 1555, 1560

Support: 1519, "1510", 1502

Note

Updated View On Gold XAU/USD (6 Sept 2019)

Well, we discussed on the potential Drop on Gold (XAU/USD) and it did happen.
It indeed went down to $1,510 region as we mentioned as one of the support levels.

It may go to $1,500 region soon as we are seeing some persistant bearish momemtum.
If you want to enter long, it is better to wait for a day or two to let the bullish candle/bar to show up first.

Resistant: 1548, 1555, 1560

Support: 1517, "1510", 1502

Note

Updated View On Gold (7 Sept 2019)

Did you follow our advice on the potential weakness on gold?
It shall still show signs of weakness in the coming week using $1,500 as support regions.

Resistant: 1510, 1517, 1548, 1555, 1560

Support: 1502, 1500

Note

Updated View On Gold XAU/USD (10 Sept 2019)

We are seeing a nice sell down on Gold on Monday.

Now we understand why Mondays are known for its extreme movements.

It might swing to $1,480 region as the swing test first.

Since we are not seeing any bullish price action yet, you may want to take it slowly into buying in.

Resistant: 1500, 1507, 1533, 1548

Support: 1480, 1475

Note

Updated View On Gold XAU/USD (11 Sept 2019)

After days of extreme movement on last Monday and Tuesday, Gold is taking a breather and it shall swing back up to $1,500.
Remember, that $1,500 has become resistant now. Trade with care.

Resistant: 1500, 1507, 1533, 1548

Support: 1483, 1475

Note

Updated View On Gold XAU/USD (12 Sept 2019)

The market is taking a breather between $1,480-$1,500 regions.
Do not add positions aggressively just yet, it can swing either direction soon.

I am expecting it still can swing a little lower first to $1,474.

Resistant: 1500, 1507, 1533, 1548

Support: 1483, 1475

Note

Updated View On Gold XAU/USD (13 Sept 2019)

The gold price did a strong shake out, using ECB news as a catalyst.

Now $1,503 to $1,520 has become a strong resistant region.
If you have BUY positions, please make sure the price is to rise that region again before adding any new positions.

Resistant: "1508", 1533, 1548

Support: 1485, 1476

Note

Updated View On Gold XAU/USD (13 Sept 2019)

Gold is diving.

Do not Buy in for no reason.

It should go to at least 1477-1478 level first.

Note

Updated View On Gold XAU/USD (16 Sept 2019)

Do you know what the terrorists have in common?
North Korea, Kim Jong-Un only fires the missiles on weekend and the Yemen rebels attacks on the weekend.

So, the terrorists only work on Weekend. Haha.

Due to the drone attack, the Oil had a huge jump and it brought the Gold price along as well.
Currently, it is stalled near the immediate resistant of $1,513 region.

I will advise you to adopt "Wait and See" approach for now as it is better to let the dust settle a little bit first.

Resistant: "1514", 1533, 1548

Support: 1499, 1493, 1485, 1476

Note

Updated View On Gold XAU/USD (17 Sept 2019)

The Monday excitement started to fade in the Gold market and it is now doing range bound near the uptrend support line of $1,488.

I expect the market will not do anything much for today and tomorrow until the FOMC meeting on Thursday early morning.

For now, $1,505 area is forming as a decent resistant area.

Resistant: 1505, "1514", 1533, 1548

Support: 1499, 1493, 1485, 1476

Note

Updated View On Gold XAU/USD (20 Sept 2019)

Are you trading to live (or) are you living to trade?
If you are solely living to trade, I think you have the addiction issue.

The market doesn't move in a meaningful trend all the time. You do not have to get excited over the small blip.

For the past 6 days, the market is not doing much. It is going sideways.

It is ranging near the resistant of 1503-1510, till the next move.

Take it easy.

Resistant: 1505, "1511", 1533, 1548

Support: 1493, 1485, 1476

Note

Updated View On Gold XAU/USD (25 Sept 2019)

Gold is making a decent rise in the recent days toward to the recent swing high region.

If you are thinking of taking a short, it appear to be too early to go in.

Resistant: 1535, 1548, 1563

Support: 1519, 1500, 1493, 1485

DYODD, all the best and read the disclaimer too.
Feel Free to "Follow", press "LIKE" <or> "Comment".
Thank You!

Note

Updated View On Gold XAU/USD (26 Sept 2019)

Whipsaw Wednesday Indeed.
Gold did a surprise turn and it went down lower. Now 1,535 is acting a resistant swing.
Now it is going below the up trend line.

It may drift a bit lower since the yesterday momentum/candle is bearish.

Resistant: 1535, 1548, 1563

Support: 1500, 1493, 1485

Note

Updated View On Gold XAU/USD (27 Sept 2019)

Gold price failed to gain to retake significant ground yesterday.

It is sitting at $1,500. If that level gets broken, it might go lower.

Resistant: 1525, 1535, 1548

Support: 1500, 1493, 1485

Note

Updated View On Gold XAU/USD (30 Sept 2019)

Gold is making some sell down in the middle of the early Monday morning.

We expect the proper movement/direction to only come in at UK session onward (4 PM SG time. 2:30 YGN time)

At this moment, the market can be under bear pressure as it is below strong resistant of $1,505 and $1,529 region.

Resistant: 1505, 1529, 1535, 1548

Support: 1492, 1485, 1471

Note

Updated View On Gold XAU/USD (1 Oct 2019)

Gold made a strong dive yesterday and broker below the swing support level of $1,470 region.

Since the momentum is so strong on the bear side, it can go lower first.

I expect $1,445 region will be a target region.

Resistant: 1484, 1492, 1505, 1529, 1535, 1548

Support: 1453, 1447

SonicDeejay

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