XAUUSD is approaching resistance at 1231 (61,8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing high resistance), where it could potentially reverse down to its support at 1211 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support). Stochastic is approaching its resistance at 91% where a corresponding reversal...
Hi there. Still waiting for the price to complete the pattern. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
GOLD: Intraday target: $1220 Long-term target: $1183
Gold prices are seen to be trading around $1223/24 levels at this point in writing, after having print interim highs at $1228 levels yesterday. Looking into the wave counts, it seems that the metal could be preparing for a brief dip towards $1218/19 levels before making a move forward towards $1250/70 levels as projected earlier. Please also note that the metal...
EURUSD is approaching our first resistance at 1234.00 (76.4% Fibonacci retracement, 61.8% Fibonacci extension, horizontal swing high resistance) where a strong drop might occur pushing price down to our major support at 1222.44 (61.8% Fibonacci extension, 50% Fibonacci retracement). Stochastic (89,5,3) is also approaching resistance we might see a corresponding...
Gold forms a bottom at $1211 levels and reverses sharply! The metal is seen to be trading around $1226 levels at this point in time and should be looking to push through immediate resistance at $1232 and further. Looking at the wave structure, Gold is seen to be unfolding into its Wave C higher towards $1250/70 levels. Furthermore, within the Wave C, the metal...
XAUUSD is approaching our first resistance at 1233.67 (horizontal swing high resistance, 61.8% Fibonacci extension, 78.6% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 1211.05 (horizontal swing low support, 61.8% Fibonacci extension, 61.8 % Fibonacci retracement). Stochastic (89,5,3) is also...
Lets see if this shorter term downward trend holds and see if price can continue to form lower highs and break the longer term uptrend.
Gold prices have dropped lower towards $1212 levels for now, and this was a probability discussed yesterday. Please note that $1212 is also the 50% retracement of the rally between $1195/96 and $1245/46 respectively. Looking into the lower degree wave counts, it still remains possible for the metal to drop towards fibonacci 0.618 support at $1209/10 levels before...
Gold Has seen some whipsaw action over the past few weeks. With futures trading lower and lower, the FOMC meeting on thursday, Can gold continue its downside move into 1200 per oz? XAUUSD GLD UGLD JDST GOLD
Gold prices did drop lower as discussed earlier, but seems to have found support early at $1220 levels. Please note that structurally the metal could still drop lower towards $1217 and up to $1210 levels as well, before turning higher again. At a higher degree, Gold is into an A-B-C corrective rally since lows at $1160 levels earlier, and is further progressing...
The Lower High rejection on the 1D Channel Down (RSI = 49.770, Highs/Lows = 0.0000) has pushed the price to 1,220, completing a Head and Shoulders pattern on 4H (Highs/Lows = -2.5686, B/BP = -3.8800). This is a indication of a bearish reversal with th first support on 1D seen within 1,204 - 1,207. The break out barrier is of course the previous Lower Low of the 1D...
Gold 4H chart has been presented here for a medium term outlook. It seems that Gold is unfolding into Wave C since bottom was formed at $1195/96 levels. Furthermore, the metal might have terminated its first lower degree wave at $1232 levels and is now progressing towards wave ii which could terminate at $1213 levels, before rallying towards waves iii , iv and v...
Gold is seen to e trading around $1227 levels at this point in writing and could probably continue pushing higher from current price or drop towards $1212, before resuming rally. Looking at the short term wave structure, waves i and ii might be in place or wave ii could terminate around 1212 levels as labelled here. If the above structure holds to be true, we...