Looking like Oil is on a path to continue to outperform Gold regular target is 2.5X outperformance This is quite troubling since Gold is on the verge of a triple top breakout versus the dollar commodities supercycle? will Oil even be freely available in 20 years?? Fiat debasement? New energy technologies?
Preferred direction: SELL Comment: Oil quotes are at fairly significant daily values. Sale transactions are relevant, and we are just looking for them, however, it is most likely not worth delaying the sale, since a more global picture is most likely in favor of the buyer. Targets for the current short trade are considered at the level of 83.42, not lower. ...
Silver has been trading inside of a falling wedge since April 2022, battered by an increasingly-hawkish fed. Despite a formidable collapse in the biggest inflation driver, oil, CPI and PPI reports are shaping up to be a continuation of the trend; worsening inflation. With any weakness in oil likely to be temporary given our macro environment, it's easy to...
hello guys... xauusd engulfed two levels and formed an ascending channel if the yellow circle breaks up you can get a long position, but wait until the break out happens my friend. _______________________________ always do your research. If you have any questions, you can write them in the comments below, and I will answer them. And please don't forget to...
First Thing First: This analysis is for “general overview only” as it is solely based on price action. That’s why it is called momentum analysis in the first place. Support/Resistant, Volume Macro view nor any other factors are not used during write up. Refer to the individual pair analysis for a more comprehensive write up. XXX/USD: Very Bearish Gold & Silver:...
Preferred direction: Neutral Comment: The previous trading idea within the near retest of the level 1.09623 gave its profit. The buyer's mood was so strong that the instrument overcame the important daily resistance 1.11861. It is assumed that this is not for long, the currency pair needs a correction. Correction will also be against the background of fixing...
Daily Chart Gold ( OANDA:XAUUSD ) has bounced EMA200 and Support Level at $1893 and it's trading around $1925.565 now Chart 4H TF Gold just has completed a right shoulder and all we need is a breakout and closed above neckline Wait and see next move
Silver is moving very similar to Gold & we can also see it trading within a very complex structure. Possibly creating a flat corrective structure, meaning volume will be very thin with slow market conditions. ⭕️5 Wave Impulse Move Complete. ⭕️3 Wave Correction (A,B,C) Yet Pending. ⭕️Selling Momentum Lost.
Someone mentioned to me that Gold is an asset that never loses money. I took the effort to show previously that Gold can very well do a 20% drop over a slow bleed (months) before it travels back up months later too. I also warned that Gold appears not to be able to keep properly and well above 2000-2080. Since 2020 (the Gold Odyssey series started in 2019), there...
Price has broken a key overlap support level suggesting that price might make a bearish breakout towards the 22.16 level. The 221.16 level is a 61.8% major Fibonacci retracement and a 127.2% Fibonacci extension. If price were to drop to this level, watch out for a potential bounce from 22.16 for it to rise back up to 22.69. Please be advised that the information...
XAUUSD D1 We are now starting to break support here on gold, 1940 was the previous area of daily support which held for a solid 64 daily bars. A retest of the underside of that broken zone could offer us short entries to $1900/oz. That being said, the preferred setup here would be longs from $1900/oz, alerts set for both, and waiting patiently.
We were successful with this one. Since we had a simple zigzag ABC, which can be the entire correction on its own, or wave A in ABC flat or wave A in ABCDE triangle, not to mention combinations, optionality remains. One can entertain shorts at this level. THIS IS NOT ADVICE.
Gold needs to go back on to your radar, not only has the market halted at the major resistance 2070/91 (2022 high, top of the 12-year up channel AND Fib extension) BUT it is threatening to chart a key monthly reversal. Should we see a monthly CLOSE below last month's low of 1949 this will be a key month reversal. For a likely top, these happen when a market...
Gold reached today a triple Support Zone, the 1D MA100, the bottom of the Channel Up and S1 (1,935.50). The 1D time frame is technically bearish (RSI = 40.784, MACD = -12.590, ADX = 46.379) but those where the exact same conditions that formed the November 3rd 2022 and February 27th 2023 bottoms. Both bottoms gave way to price rallies that made at least a +10.20%...
XAUUSD is trading inside a Channel Up pattern for the past 1 month and a half. The 1D technicals are neutral (RSI = 51.392, MACD = 15.400, ADX = 15.598) indicating that this is the most efficient long entry for the medium term. However the unique characteristic of this Channel Up is that all 1D candles have closed inside it to maintain the trend, despite making...
Hey traders, Gold has broke out of the rising wedge 1955 is a possible target, the pair has been bullish for a while and a pullback seems inevitable. If you like my idea boost and comment your opinion. Cheers!
A pullback to 1950 would provide a good entry zone for then next wave up toward 2100
De-dollarisation drive could push the gold upwards as the world will look for alternatives. Above 2072 resistance level, there is a clear bullish view for gold.