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XAU/USD (Gold) In-Depth Technical Analysis with Short PositionIn this idea I will explain why I am bearish on gold and why you should be too. I will use technical analysis to describe what's happened recently and what we can expect for gold moving forward. Hi everyone, Trading-Guru here with another update on XAU/USD (Gold) . Since the markets didn't move much recently, I decided to take some time working on the bigger projects I still have in the pipeline. I am going to publish some really high quality trading guides completely for free and have started a redesign of my website. Follow me here on Tradingview or on the scanner pages on Telegram and keep an eye on my profile to learn where and how to access these! Recently, the resistance zone around ~$1745 has been playing an incredibly important role for gold. We have found 5 (!) confirmations of this zone, and it looks like it will take a while to find enough bulls to break through this level. Don't forget this is the last zone of resistance before we reach a one-year-high, an incredibly powerful resistance area. With all of this resistance present on the chart, I suggest a short set-up here on Gold. The resistance zone got confirmed again, and the price is still relatively high. This gives us a good risk return on a short position while having the confirmation already in the pocket. Now, for a logical position to leave this trade, I suggest this weaker support zone around $1700. First of all, there is the psychological emphasis on this level where if it breaks below, news articles will be written about how gold breaks below $1700. Second of all, since so much is happening in the world, I suggest trading shorter trades and don't plan too far ahead TA wise, as so many things can change from a fundamental point of view. Using the support of $1670 would allow for a much higher return on this trade, but I simply don't think we have the time to wait for this level as too much can happen in the meantime. I suggest you also take this safer trade with a smaller return, but a higher chance of monetizing this return. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
OANDA:XAUUSDLong
by Trading-Guru
12
SUGAR ($SUGARUSD) 🍬| Do we See a Sugar High or Cavities?🍦 The future of sugar futures looks sweet. Sugar futures have been trending well recently, with levels being constantly respected, so the chart is attractive from that perspective. It is especially attractive for the bulls given the current recovery on the back of the COVID correction. With that in mind, despite the bullish price action, this hot sugar chart looks like it could cool off here and crystalize for a bit. Below we map out a potential pathway for both the bulls and bears to find out if this sweet tooth leads to a sugar high or cavities. Support: If we break below the current range it isn't a great look for the current bull trend, but that doesn't mean the bulls are out of options. The S1 bullish S/R flip should act as a temporary support. If the bulls can then bust through the current consolidation range they are in good standing, however the more likely bearish breakdown path leads to S2, which really does away with the bullish structure. Resistance: If the bulls can push us above the R1 and the current range then we likely continue on the sugar high. On that path the R2 S/R flip is our first real point of resistance, a reaction here likely has us testing R1 as support. If that all goes well we likely get a bullish continuation to at least the R3 order block. Above R3 are the R4 orderblock and S/R flip cluster and finally R5 orderblock at the top. Summary: It currently looks like we are headed for a correction, but the bulls still have a real chance to sustain the trend here. The big danger for sugar bulls is letting a breakdown from the current range turn into a trip down to S2. Resources: www.spglobal.com Hit that 👍 button to show support for the content and help us grow 🐣
OANDA:SUGARUSD
by AlphaBotSystem
Gold’s weekly outlook: June 08-12Gold had an ugly week with $1700 broken on closing basis primarily due to better than expected jobs data from the U.S which further increased the appetite for riskier assets. Also helped the fall was the reopening of the economies worldwide which led to increased demand of commodities indicating growth. All the bad news revolving around increasing virus cases with few countries experiencing 2nd wave of infections or are in line to, geopolitical tensions and constant warning/signs of slowing economies have been totally neglected or say overridden by just a set of positive news which is also rumored to be erroneous. This spin off certainly doesnt provide any sanity or a correct path of trajectory for either riskier or risk free asset class rather adds to dilemma of investors atleast on fundamental basis. This rise in riskier asset class may be seen as a euphoric move which could be based on the idea of free money and the ever green “left out feeling” and probably the path for elections which set for November. Even if fundamentals are overlooked, technicals remain in favor of bulls in spite of the break of $1700. To watch next week – Fed meeting and other important economic data. On the chart – Gold had a nasty $75 ranged red week where it failed to hold $1700 on closing basis due to a better than expected economic data. Technically, the fall was arrested at the earlier breakout zone with the metal finally closing above crucial support level which remains a bullish sign. We have 2 scenarios – 1. Gold closed above the support, till this is held it can go to $1685. If this is crossed it can move towards $1698. And if this is taken out it can rally to $1716 and next $1727. 2. Short trades remain dull as the support was held except scalp trades but a failure to hold might lead to $1643. Bullish view – Bulls were finally cornered as the prices breached $1700 with quite some force ending the 4 week stay. This is not a pleasing sight at all but again bulls defended the earlier breakout and infact had a closing above the support in daily timeframe which should act as a good push for going forward again. This support area becomes a crucial one to hold and if broken it could lead the metal lower, so the bulls need to protect the supports for moving higher and till its held a brisker march towards $1800 cannot be ruled out. Bearishness still remains captive, but once freed (support breaks) it can lead the metal lower towards the 20 dma. On larger terms, Gold continues to remain bullish and prices are expected to head higher. Possible trades are on both sides but mainly on upside, gold can be bought above $1685 for the targets of $1698 and $1716 with a stop loss placed below $1673. Longer term target $1727. Dips towards support (and breakout region) can be used to create longs for the above mentioned targets. Shorts can be useful for scalp trades only.
TVC:GOLDLong
by vanimator
Gold’s weekly outlook: June 01-05Gold had a quite eventful week where it briefly broke $1700 mainly due to increased risk appetite worldwide before settling back above the support though with minor cuts for the week. More so, as economies kept on opening or showed signs of also led a hand in the fall which was negated or simply bought as the metal had decisively broken out plus nothing as far as the pandemic or geopolitical concerns showed any signs of easing. The rally from the lows can be accredited to the fresh bout of tensions in form of riots and public unrest in the U.S over racism which should further propel gold as it does nothing but add another feather in the cap of uncertainties. To watch next week – Brexit talks and other important economic data. On the chart – Gold made a pin bar following the retracement back from the lows clearly suggesting a near term bottom formation. The fall was technically another retest of the pattern breakout which was again successful further cementing the trend for the yellow metal. Fundamentals keep on supporting higher prices as uncertainties are failing to die down rather fresh ones are being added in intervals. We have 2 scenarios- 1. Gold closed above the support, till this is held it can go to $1740. If this is crossed it can move towards $1755. And if this is taken out it can rally to $1771. 2. Short trades remain nullified after another bullish breakout except scalp trades. Bullish view – Bulls again did not have a colorful week but did have many takeaways from it as they confidently pulled back the prices from lows to above the support level suggesting a near term bottom formation and re-highlighting the “buy on dips” or the current mindset of the investors. Also, another pattern breakout further bolstered the direction after the retest of the earlier breakout. Both fundamentals and technicals continue to support higher prices making the march towards $1800 plus brisker. Bearishness remains off the table as supports were held. On larger terms, Gold remains bullish and prices are expected to head higher. Possible trades are on both sides but mainly on upside, gold can be bought above $1740 for the targets of $1755 and $1771 with a stop loss placed below $1729. Longer term target $1789. Dips towards support (and breakout region) can be used to create longs for the above mentioned targets. Shorts can be useful for scalp trades only.
TVC:GOLDLong
by vanimator
Gold’s weekly outlook: May 25-29Gold relatively had a small actual movement compared to the week’s range which saw the metal create a fresh 52-week high amidst growing uncertainties, increased geopolitical tensions and the dominant coronavirus pandemic. With the world fighting its way out from the lockdown, last week’s news flow regarding China’s policies further worsened the already mistuned ties with the U.S igniting fears of a probable cold war between the 2 super powers. The only positive news around the globe is the race for creation of the vaccine but again there might be no such absolute cure/prevention since most viruses do not have a vaccine. Amidst all these, natural disasters too haven’t spared the world with countries facing different types of them adding to the overgrown list of problems. This certainly cooks up a perfect recipe for relentless mayhem which if not anything points towards the end of the days though this is a bit far thought of scenario. Gold remains the best asset class amongst all as it is technically and fundamentally more stronger the ever. To watch this week – Important economic data. On the chart – Gold after hitting new 52 week high went into consolidation where it successfully retested the breakout and finally ended fairly higher above the support area though with negative returns for the week. This retest further adds to the bull case making the yellow metal technically even stronger while preparing it for an unopposed run on the upside. We have 2 scenarios – 1. Gold closed above the support, till this is held it can go to $1740. If this is crossed it can move towards $1755. And if this is taken out it can rally to $1771. 2. Short trades still doesn’t entice as trend remains bullish except scalp trades. Bullish view – Bulls relaxed a bit after attaining a new 52 week high as the price retraced from the highs and tested the breakout in which they were successful as the closing went in their favor. With the pandemic still hurting the economies severely, fresh geopolitical uncertainties and tensions have added another dark cloud over the world having dire consequences which should cement an extended run for gold above $1800. Technically, the retest has already provided the direction for the metal while fundamentals again keep getting firmer only as disruptions across the globe does not look to stop. Bearish bets still remain non-productive. On larger terms, Gold continues to remain bullish and prices are expected to head higher. Possible trades are on both sides but mainly on upside, gold can be bought above $1741 for the targets of $1755 and $1771 with a stop loss placed below $1733. Longer term target $1789. Dips towards support (and breakout region) can be used to create longs for the above mentioned targets. Shorts can be useful for scalp trades only.
TVC:GOLDLong
by vanimator
Oil To APEX After breaking out of price consolidation (yellow rectangle) it’s crucial that the bulls keep oil above this price point and move to the apex depicted in the chart. A break of the inner upward Trend line will see oil back into the consolidation point so its imperative that the Bulls keep at these levels or above. A Rise to 32 (R1) will see some bears to contend with. This P action will show strength and solidify the second point to maybe see a parallel channel upward form/ing. 📈Support & Resistance📉* Support Levels 1st Support Zone: 23.41 2nd Support Zone: 17.80 3rd Support Zone: 12.94 Resistance Levels: 1st Resistance Zone: 28.71 2nd Resistance Zone: 37.62 3rd Resistance Zone: 42.11 Price Level Consideration ATH: 147.27 All Time High Half Way Point: 73.64 Prominent High: 65.53 Prominent Low: ZERO 🐃 Bulls Verse Bears 🐻 🐃 Bullish above: 77.04 🐻 Bearish below: BEARISH at the moment Monthly & Weekly Opens Monthly Open:18.86 Weekly Open: 29.78
TVC:USOIL
by LandenInternational
Gold’s weekly outlook: May 18-22Gold resumed its uptrend as it finally broke out from the consolidation making a fresh 52 week high while having a new (weekly) closing high as well. This move was on expected lines which further empowers the metal for a sustained run as renewed trade tensions and the pandemic continues to haunt with virus showing no signs of retreating rather some countries could be experiencing the 2nd wave of infections which would definitely pose as an immense support to the prices in days ahead. As more and more countries are reopening their economies, chances of 2nd wave becomes high which may be deadlier than the first one as seen during the Spanish Flu outbreak in 1918 which should lead the yellow metal even higher. To watch next week – FOMC meeting minutes and other important economic data. On the chart – Gold had a rise of $39 after 2 weeks of consolidation owing to poor economic data due to the pandemic’s impact on the economy. The closing at new high suggests prolonged bullish run as the older high should now act as a support. Fundamentals and technicals both now come at par on terms of strength that is strong since the bullish breakout. We have 2 scenarios – 1. Gold closed above the support, till this is held it can go to $1755. If this is crossed it can move towards $1771. And if this is taken out it can rally to $1789. 2. Short trades still remain colorless as trend remains overly bullish except scalp trades. Bullish view – Bulls had a good week after 14 days of consolidation as they notched up a fresh 52 week high and had a closing at another. The bullish bias seems to grow only as re-opened economies are facing a threat of 2nd wave of infections which may force them to take measures again which will hamper the economic activities making gold the better investment amongst all asset class. With the bullish breakout it does open a fresh leg on the upside which should take the metal above $1800 soon. Bearish bets still offer no value. On larger terms, Gold remains bullish and prices are expected to head higher. Possible trades are on both sides but mainly on upside, gold can be bought above $1752 for the targets of $1755 and $1771 with a stop loss placed below $1739. Longer term target $1789. Dips towards support (and breakout region) can be used to create longs for the above mentioned targets. Shorts can be useful for scalp trades only.
TVC:GOLDLong
by vanimator
XAG Showing Promise Into New Week Of Silver TradingSilver Overview Silver broke north as depicted in my previous silver post to close for the week at the 16.6 level which sees the major swing low. A level reflected before the drop a lot of markets encountered in March 2020. This is to be acknowledged, as the Bulls need to contend with these prior price points. The bears will be defensive preventing the bulls to execute freely for more northerly P action. Area of Interest Support Zone 1 may come into play at market open on Monday and price action on the lower timeframes may slither along the trend line depicted on the daily charts. If the Bulls open at current levels and push higher closing positive on the daily then XAG will position itself well to potentially rise to $17 -17.5. P action will be contenting with the prior price points from Aug 2019 in that case. A break of support 1 may see the bears drive the price back to support zone 2 above the prior consolidation that started since the April. (See Below Support & Resistance zones for more info) Overall Silver has had a strong week and lets see if it can continue the run and momentum to the upside this week. 📈Support & Resistance📉* Support Levels 1st Support Zone: 16.48079 2nd Support Zone: 15.85826 3rd Support Zone: 15.54766 Resistance Levels: 1st Resistance Zone: 16.83701 2nd Resistance Zone: 17.20388 3rd Resistance Zone: 17.48440 Price Level Consideration All Time High Half Way Point: 960.480 Prominent High: 18.94754 Prominent Low: 11.60858 🐃 Bulls Verse Bears 🐻 🐃 Bullish above: 17.63366 🐻 Bearish below: BEARISH at the moment Monthly & Weekly Opens Monthly Open: 14.96137 Weekly Open: 15.46634 (Monday open will change this)
OANDA:XAGUSD
by LandenInternational
Gold’s weekly outlook: May 11-15Gold had a flat week with very little actual gains as it still remained in consolidation after a mammoth rally. With countries under immense pressure to re-open economic activities along with linear growing infections globally, it certainly invites a cloud of uncertainty about the future as in weekend South Korea and China reported fresh cases, second wave of infections after having re-opened most of the activities forcing them to undertake preventive measures again. Coming to the big news regarding a possible restart of the trade war between U.S and China could again derail both the economies which caused a rally in the yellow metal though it failed to sustain the gains but helped enough to have a closing above $1700 again. It looks like the situations are not wanting to improve with new tensions flaring up as the world continues to reel under the pressure of the pandemic. All the above points direct towards a sustained bull run which may not have a weak point anytime soon. To watch this week – Inflation and other important economic data. On the chart – Gold had a green week though a very small one but noticeably important as it reclaimed $1700 after taking support at lower levels indicating another near term base formation. Fundamentals remain the stronger point with key issues resurfacing which is adding to the uncertainty while technically gold remains in a triangle consolidation which should likely break on the upside if not already. We have 2 scenarios – 1. Gold closed above the support, till this is held it can go to $1716. If this is crossed it can move towards $1727. And if this is taken out it can rally to $1740. 2. Short trades remain uninteresting as the bullish trend remains intact except scalp trades. Bullish view – Bulls had a nice outing but ended up with very little actual gains, still they added to the accomplishments by reconquering the $1700. The move was majorly due to the increased geopolitical tensions amidst the virus chaos caused by possible re-ignition of the trade war between U.S and China. The only factor which may hurt the bulls is the re-opening of the economies globally but again with fresh virus infections not showing declining signs it will moreover add to the uncertainty rather then cooling off. The fundamentals are only getting stronger by week on week basis while the technicals still bullish have entered into a time consolidation. For bulls to keep moving higher smoothly, they need to break the consolidation on the upside and aim for new highs. Bearishness remains off the table unless the pattern/trend changes otherwise. On larger terms, Gold continues to remain bullish and prices are expected to head higher. Possible trades are on both sides but mainly on upside, gold can be bought above $1705 for the targets of $1716 and $1727 with a stop loss placed below $1685. Longer term target $1740. Dips towards support (and breakout region) can be used to create longs for the above mentioned targets. Shorts can be useful for scalp trades only.
TVC:GOLDLong
by vanimator
Gold’s weekly outlook: May 04-08Gold had a red bar after a gap of 3 weeks mainly on account of retracement as there seems no cause for the yellow metal to show any weakness in this unfortunate time which is daily drying up population worldwide. With the economies shut all around and most of the Governments providing stimulus (The main focus being the Fed with unlimited QE) the demand for gold keeps on increasing as the central banks keep on printing money. Only drawback which may hurt the prices to some extent is the phased reopening which many countries are now trying but situation wont improve soon keeping this negativity in check. To watch next week – BOE meeting and other important economic data. On the chart – Gold had a mild correction after a monstrous $250 rally mostly on hopes of economies reopening and restarting activities. With the virus still showing no signs of retreating, its very difficult for the world to get in order which should keep the prices bullish. Fundamentals and technicals both strongly support the bullishness and currently its hard to find a chink in the armor of gold bulls. We have 2 scenarios – 1. Gold closed above the support, till this is held it can go to $1716. If this is crossed it can move towards $1727. And if this is taken out it can rally to $1740. 2. Short trades remain highly unattractive in this bullish environment except scalp trades. Bullish view – Bulls took a breather after having a $250 plus rally but the closing remains supportive for further uptrend as both technical and fundamentals stay in favor of them. For bulls to remain in the driving seat they need to protect the lows while aiming for fresh highs which will keep 1800 plus in closer sight. Bearish bets still remain out of context. On larger terms, Gold remains bullish and prices are expected to head higher. Possible trades are on both sides but mainly on upside, gold can be bought above $1704 for the targets of $1716 and $1727 with a stop loss placed below $1685. Longer term target $1740. Dips towards support (and breakout region) can be used to create longs for the above mentioned targets. Shorts can be useful for scalp trades only.
TVC:GOLDLong
by vanimator
4
Why gold’s little sister is becoming more attractiveWhen the Fed cut interest rates – it was GREAT for Silver! On Sunday, 15 March 2020, the Federal Reserve finally cut the interest rates to zero percent… They also announced they would purchase $700 billion in bonds and securities to try and stabilise the financial markets amidst the COVID-19 era… Now when the Fed decides to cut interest rates, this makes it more attractive for traders and investors to pile their money into precious metals like silver and gold… This is because lower interest rates mean, there’ll be lower returns for investors from savings, banks and even trust funds. Instead, investors tend to withdraw their money from low yielding assets, and deposit it into more rewarding financial markets. This means, they’ll more likely invest in safe havens such as gold, silver and even crypto-currencies, which will drive the prices up… Now going back to why I’m telling you this now… At the time the silver price was trading at under $13 an ounce… And as soon as the Fed cut the interest rates, I wrote in my excel note book. “15 March 2020 - The US has just slashed their interest rates to zero. This means we can expect a rally in gold and silver in the next month or two…” One month later, the silver price went above $15.00 an ounce. I know you might think that the rally has happened and that now I’ve missed out on the opportunity... But if you’ve been following my predictions for the last decade you’ll know this… I never just jump in and pile money into precious metals as soon as an announcement comes out. Instead, I wait for confirmed upside according to my charts, before I get in and ride the rest of the rally when it comes. In fact, it looks like this 15% rise is just the start, and I now expect silver to run another 22% in the next few weeks as investors pile into the metal… Silver will rally because of investors In the real economy, silver is mainly used in two main industries: jewellery and industrial (electronics, solar panels etc…) And this year, we’ve seen a huge collapse in consumption as jewellery stores remain closed and mines remain inactive… With the global slowdown from the COVID-19 pandemic, leading to a drop in industrial silver demand, this most likely will lead to the silver price falling from $18.80 in January down to $12.29 in March… However, since the interest rates have been cut – there’s been an increase in buying of silver futures and ETFs... In fact, according to the latest research from the Silver Institute, investment demand will drive prices higher in 2020… Even Commerzbank said retail investors, rather than institutional ones, tend to buy silver and silver ETFs. “So from this side, there should not be much selling pressure on silver,” They also mentioned: “The silver market is small so it doesn’t take a lot of money to really push prices higher,” And so with silver acting as a precious metal and a safe-haven once again for investors, the charts agree with the upside to come… Regards Timon Rossolimos Founder, MATI Trader
TVC:SILVERLong
by Timonrosso
SILVER - new impulse wave downAs we predicted in the post of April 16, Silver is developing its downtrend path to newer lows. Minute wave ii has retraced 50% of minute wave i, which can signalise the end of the counter-trend move or just very near for this. The next move will be minute wave iii from Minor wave 3 and because of this we may see good strength down soon. The first stop before continueing down should be at around the most probable target at 13.58. If prices crosse sup 15.51 we may revise this analysis. FOLLOW SKYLINEPRO TO GET UPDATES.
TVC:SILVERShort
by SkylinePro