NGAS cup and handle / inverse HSForming a bullish inverse HS, or a cup and handle. If the trend line is finally broken, PT 3.50$ and 4.20$ in the horizon, NGAS usually spikes around year end due to increasing storage
Commodities
GOLD - Price can continue to grow inside rising channelHi guys, this is my overview for XAUUSD, feel free to check it and write your feedback in comments👊
A few moments ago price entered to pennant, where it at once bounced up from support line and rose to $2625 level.
Soon, price broke this level, and quickly reached resistance line of pennant, but then made correction back.
After this, price rose to resistance line and some time traded near, after which bounced down, exiting from pennant.
Also, Gold broke $2625 level, but soon started to grow inside rising channel and later broke this level one more time.
Inside channel, price made a gap and some time later reached resistance line, breaking $2720 level and recently making correction.
Now, I think that Gold can firstlty fall to support level and then continue to grow to $2785
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Gold: Key Levels to Watch for Next Big Move !Gold (XAU/USD) has been oscillating between key levels, currently eyeing a potential breakout. Price is consolidating near the $2,738.82 level, with strong resistance just ahead at $2,740.89 and $2,744.31. Bulls need to clear these levels decisively to maintain the upward momentum.
If gold breaks through $2,744.31, we could see a sharp rally towards higher resistance zones. However, a failure to break higher could lead to a retracement, with the $2,728.41 and $2,727.25 support levels as key targets for a downward move.
In the event of a bearish scenario, a break below $2,727.25 could trigger a larger sell-off, potentially driving the price towards $2,715.59 or lower. Traders should monitor price action at these crucial levels for clear signals of the next directional move.
GOLD: Short Trade with Entry/SL/TP
GOLD
- Classic bearish pattern
- Our team expects retracement
SUGGESTED TRADE:
Swing Trade
Sell GOLD
Entry - 2735.6
Stop - 2758.6
Take - 2692.8
Our Risk - 1%
Start protection of your profits from lower levels
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USOIL Will Go Up From Support! Long!
Take a look at our analysis for USOIL.
Time Frame: 12h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 71.32.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 75.37 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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Gold Next move is to 2747 and aboveThese 2 yellow lines were my 2 targets achieved. Third one is 2747. It will achieve soon.
USOIL SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
We are now examining the USOIL pair and we can see that the pair is going up locally while also being in a uptrend on the 1W TF. But there is also a powerful signal from the BB upper band being nearby, indicating that the pair is overbought so we can go short from the resistance line above and a target at 67.89 level.
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XAU/USD : The Next Target is $2743.7 , Why ? (READ THE CAPTION)By analyzing the gold chart in the 15-minute timeframe, we can see that the price is currently trading around the $2734 level. At the moment, the $2728 to $2730 range has become a key support zone for gold. Given that a liquidity pool has formed around the $2738.5 level and another one above $2740, I expect the price to move toward higher targets, maintaining the current support. Soon, we should see gold rise to the main target of $2743.7! Keep a close eye on how the price reacts to these levels.
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
XAUUSD Adjusts With Key Support at 2,722XAUUSD is currently in a correction phase after reaching a peak of 2,758.007.
At present, the price is likely to test the critical support around 2,722, supported by the EMA 34 and EMA 89, indicating that the uptrend could remain intact if the price holds above this level.
If the price does not break this support, it is highly likely to rebound towards the resistance at 2,758.007. The RSI, currently at 57.40, suggests the market is in a neutral zone with no signs of being overbought or oversold.
In recent news, gold prices dropped over 1% after reaching the peak on October 23rd due to a stronger USD and rising US bond yields, despite safe-haven demand driven by the upcoming US presidential election and the Middle East situation.
XAUUSD: Exiting the uptrend channel !Latest gold price forecast today October 24, 2024:
Gold information:
World gold prices fell sharply today due to pressure from the increase in the USD and US Treasury bond yields. Specifically, the US Dollar Index increased by 0.3% to nearly a 3-month high, which put pressure on gold prices. US bond yields also increased to a 3-month high, increasing the opportunity cost of holding gold.
Although gold prices have decreased, experts are still optimistic because the uncertainties related to the US election along with the increasing debt burden in this country are also making investors worried and looking to gold as a safe haven for cash flow.
Conclusion:
This has caused gold to continuously conquer records and has increased by more than 31% this year. With this momentum, gold is one of the best investment channels in 2024.
Ben's personal comment:
On most timeframes, gold price is still well supported, creating a good recovery momentum from the support level of 2408 and now 2723 dollars. The recovery is likely to continue in the coming time with targets of 2733 - 2739 respectively, before any further correction in the main trend.
Gold setup:
Buy entry: 2721 - 2717
SL: 2713
TP: 2733 - 2739
Sell entry: 2733 - 2735 - 2737 - 2739
SL: 2743
TP: 2714 - 2708
SELL GOLDIn todays session we are monitoring gold for a selling opportunity. Bears are not done yet. We expect price to keep dropping until 2700 where we might see a bullish move up to 2800. Our stops for the sell are 2743 level. Use proper risk management.
GASOLINE Bottom confirmed. 3-month rally ahead.Gasoline (RB1!) formed a confirmed technical bottom on the 3.5-year Support Zone and the Lower Lows of the Falling Wedge. At the same time, the 1W RSI bounced from oversold territory (below 30.00) back above its MA trend-line, confirming a bullish reversal.
The previous Lower Lows bottom reached marginally above the 0.786 Fibonacci retracement level. As a result we remain committed to our long-term Target of 2.600 (below also the Lower Highs trend-line), which we expect to get hit within the next 3 months.
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WTI crude oil trend is neutral, with more bearish conditionsTVC:USOIL continued to recover from a decrease of 1% in the previous trading day after the US announced that crude oil inventories increased much higher than expected. After falling back, it continued to rise as the US election approached causing commodities to revive inflation expectations and the possibility of a further recovery in oil prices.
The U.S. Energy Information Administration (EIA) said on Wednesday that crude oil inventories rose sharply, rising 5.5 million barrels to 426 million barrels in the week ended October 18, compared with market expectations. market for an increase of 270,000 barrels.
Current concerns about potential oil supply risks due to conflict in the Middle East have partly offset the impact on crude inventories.
On the daily chart, TVC:USOIL Trading is currently quite slow with price activity mainly around the EMA21 level.
Although WTI crude oil has recovered, the recovery is still temporarily limited by the resistance level of 72.39 USD and the 21-day moving average (EMA21). In case WTI crude oil price increases and breaks the level of 72.39 USD, it will tends to rise a little further to test the 0.382% Fibonacci retracement level.
The current recovery level of WTI crude oil is still not enough to create a bullish cycle as the Relative Strength Index is also approaching point 50, a position considered to be under pressure in terms of momentum.
Once WTI crude oil is sold below the 0.236% Fibonacci retracement level, the recovery cycle will end with the target level then around $68.19 in the short term, more so than $67.14.
During the day, the technical outlook for WTI crude oil is currently neutral, with more bearish conditions and notable levels listed below.
Support: 70.56 – 68.19USD
Resistance: 72.39 – 73.80USD
USOIL Potential UpsidesHey Traders, in today's trading session we are monitoring USOIL for a buying opportunity around 70.80 zone, USOIL is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 70.80 support and resistance area.
Trade safe, Joe.
Gold prices edged up as U.S. yields fell and the dollar weakenedThe slight decline of the USD and U.S. Treasury yields may reflect stable market sentiment in Asia following a technology sell-off on Wall Street. U.S. stock futures rebounded as risk was re-established, thanks to strong earnings reports from Tesla Inc.
Tesla reported adjusted earnings of 72 cents per share for the quarter, surpassing analysts' average estimates and ending a streak of four consecutive quarters of missed expectations. The company noted that the Cybertruck, delivered for the first time late last year, has started to turn a profit.
Personal opinion:
The price of gold is currently facing strong resistance at $2,723. This is the 23.6% Fibonacci retracement level from the recent record price increase, where the price rose from $2,604 on October 10 to an all-time high of $2,759. If it breaks above this level, buyers may find it easier to surpass the psychological barrier of $2,750. The next target will be the record high of $2,759.
Pay attention to the price range:
Buy Zone: 2712 - 2710
SL: 2705
Sell Zone: 2759 - 2761
SL: 2766
Sell Scalp: 2736 - 2738
SL: 2743
Update gold price after stormy day. Gold prices have rebounded today after a sharp decline yesterday, with the precious metal currently hovering around the $2730 mark, recovering more than 100 pips in the early hours of Thursday's trading session.
Meanwhile, the US Dollar Index has risen by 0.3%, nearing its highest level in three months. This strength in the dollar is making gold less appealing for holders of other currencies. At the same time, US bond yields have climbed to a three-month high, increasing the opportunity cost of holding non-yielding assets like gold.
Despite these pressures, gold's upward momentum remains strong, with the recent dip appearing to be part of a typical correction. Ongoing uncertainty surrounding the US elections, along with the nation’s growing debt burden, continues to fuel investor concerns, pushing many to seek the safe haven of gold.
This year, the precious metal has consistently set new records, gaining over 31%. With this momentum, gold is on track to be one of the best-performing assets in 2024.
Reached the top and suddenly fell verticallyGold costs reduced after statistics approximately americaA housing marketplace in September. According to americaA National Association of Real Estate (NAR), general income of present homes, consisting of personal houses, townhouses, and residences condominiums and cooperatives, fell 1.0% to a seasonally adjusted price of 3.eighty four million gadgets in September. The records turned into higher than expected, as economists had forecast a 1.3% decline. right all the way down to 3.eighty million gadgets. Total sales for August turned into additionally adjusted as much as 3.88 million gadgets from the formerly pronounced 3.86 million gadgets. Year-on-year, income sales reduced with the aid of using 3.5% in comparison to September 2023.
In addition to the motive coming from new financial records, the lower in gold costs may also be a profit-taking circulate with the aid of using many investors, after this valuable steel has constantly peaked withinside the beyond few weeks. Experts additionally word that notwithstanding a robust adjustment, gold costs nevertheless keep above 2,seven-hundred USD/ounce with long-time period assisting elements together with geopolitical instability and hobby price slicing regulations of a chain of primary banks.
🔥 XAUUSD Buy limit 2715 - 2717 🔥
✔️TP1: 2730
✔️TP2: 2750
✔️TP3: OPEN
🚫SL: 2708
➖➖➖➖➖➖➖➖
🔥 XAUUSD Sell limit 2736 - 2738 🔥
✔️ TP1: 2725
✔️ TP2: 2715
✔️ TP3: OPEN
🚫SL: 2746
Can we accept as true with gold`s SELL signal?We acquired an apparent promote sign on Wednesday with a key reversal candle printing at the every day timeframe. However, one have a take a observe latest records indicates we've acquired masses of topping indicators and styles this year, but none generally tend to final long. That by myself makes me cautious of the bearish sign, particularly with the charge persevering with to fashion better throughout severa timeframes.
Given how strongly gold has traded recently, there can also additionally had been an detail of profit-taking up Wednesday to plug losses in different asset classes, particularly constant profits markets. The unwind additionally got here from oversold degrees on RSI (14), hinting short-time period positioning changed into turning into lopsided.
Those searching at capability setups may want to use the uptrend strolling from the lows struck on October 10 to construct trades around. It`s observed around $2720 today. If the charge manages to maintain above the uptrend, you may purchase in advance it with a decent forestall beneath for protection. The apparent exchange goal will be the file excessive of $2758.55.
🔥 OANDA:XAUUSD Buy limit 2714 - 2712 🔥
✔️TP1: 2730
✔️TP2: 2750
✔️TP3: OPEN
🚫SL: 2706
➖➖➖➖➖➖➖➖
🔥 OANDA:XAUUSD Sell limit 2740 - 2738 🔥
✔️ TP1: 2730
✔️ TP2: 2720
✔️ TP3: OPEN
🚫SL: 2748
Gold prices change constantlyThe correlation evaluation underneath seems at the connection among gold and silver during the last fortnight with some of marketplace indicators. Gold is at the right, silver at the left.
From pinnacle to bottom, we've got the form of the Fed budget futures curve from October 2024 to December 2025 in black, presenting a manual on price reduce pricing, US two-12 months yields in blue, US 10-12 months yields in green, the United States greenback index in crimson and 10-12 months actual bond yields in red which measures nominal yields much less anticipated inflation over the following decade.
To placed matters into perspective, pastimes and the greenback have risen sharply over the last 10 days. However, regardless of this, gold and silver are an increasing number of correlated with this alteration regardless of being their conventional enemies.
It`s now no longer superb how gold and silver are appearing on this surroundings and but there may be not anything extra than hobby costs and bonus charge fluctuations which are using the valuable metals markets.
Does protection have an absorption path? Lam charge anticipated to be higher? Increased monetary penetration? Russia's sanctions avoidance order? Those are the famous theories, even though it is hard to select out which one, if any, is the actual using pressure proper now. One component we do understand is that gold and silver retain to fashion higher.
💎 TVC:GOLD Buy limit 2714 - 2712 💎
✔️TP1: 2730
✔️TP2: 2750
✔️TP3: OPEN
🚫SL: 2706
➖➖➖➖➖➖➖➖
💎 TVC:GOLD XAUUSD Sell limit 2740 - 2738 💎
✔️TP1: 2730
✔️TP2: 2720
✔️TP3: OPEN
🚫SL: 2748
Gold Insights: Empowering Thoughts for Success, 24-Oct-2024Gold market analysis: Today's zones for strategic decision-making.
Silver H1 | Potential bearish reversalSilver (XAG/USD) is rising towards a pullback resistance and could potentially reverse off this level to drop lower.
Sell entry is at 34.18 which is a pullback resistance that aligns with the 50.0% Fibonacci retracement level.
Stop loss is at 34.70 which is a level that sits above the 78.6% Fibonacci retracement level and a pullback resistance.
Take profit is at 33.56 which is a pullback support.
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Gold Price Fluctuates Strongly As USD IncreasesBased on the chart and information you provided, gold prices are under downward pressure due to the continued rise in the USD and the US bond yield rising to 4.25%, which has limited the flow of investment capital into the precious metal. On the chart, after hitting the resistance level around $2,757, gold prices reversed and fell below $2,720.
Currently, gold prices are likely to continue to correct to the support zone around $2,700. If this support zone fails to hold, the price is likely to continue to fall further. However, if the price holds above the support level, there may be a recovery and retest the resistance zone of $2,750-2,760.
XAUUSD: My prediction for near futureXAUUSD: My prediction for near future. Short time bullish as a correction of lower timeframe followed by correction of the 4H leg and then bullish again.
