XAUUSD is approaching our first support at 1212.1 (Horizontal pullback support, 100% fiboancci extension, 38.2%, 50% fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 1240.0 (horizontal overlap resistance, 61.8% fiboancci extension, 38.2% fibonacci retracement). Stochastic (89,5,3) is also...
The Gold price is currently sitting around the 1215 support level - we are likely to see a a strong trend continuation from this level if we are able to break above 1220. I believe the recent fall in the price has been a simple market correction, so my previous ideas on this commodity are still valid. However, if the price is to break the 1215 level, we are...
XAUUSD is approaching our first support at 1212.15 (horizontal pullback support, 100% Fibonacci extension, 38.2%, 50% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 1240.00 (horizontal overlap resistance, 61.8% Fibonacci extension, 38.2% Fibonacci retracement). Stochastic (89,5,3) is also...
The chart depicts 3 different patterns and along with the 50 and 200 MA makes support and resistance areas pretty clear. It is a wait and watch situation. I will wait for the weekly candle to close whilst my bias is a downturn to the $155 area and the 200 MA.
Gold advanced higher last week within the 1D Channel Up (RSI = 60.404, MACD = 7.590, Highs/Lows = 0.0000) due to further volatility and decline on the equity markets. However, with DXY almost reaching its 97.00 annual high, Gold's rise remains non-technical and continues to represent an excellent long term short opportunity. The current pull back has to succeed at...
we are within an ascending triangle. volume declining, price increasing. catalyst also the current stock market sell offs. we had a nice consolidation at support. i bought some gold @ 1190 last month. watch for the strong resistance. if volume picks up, a strong move will occur. Awesome oscillator (AO) looking very promising. NOT AN INVESTMENT ADVICE
Midterm forecast: There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1183.15 would begin in Midterm. Technical analysis: The RSI resistance #1 at 53 is broken, so the probability of beginning of uptrend is increased. While the RSI uptrend #2 is not broken, bullish wave in price would continue. Price is...
Midterm forecast: There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1183.15 would begin in Midterm. Technical analysis: The RSI resistance #1 at 53 is broken, so the probability of beginning of uptrend is increased. While the RSI uptrend #2 is not broken, bullish wave in price would continue. Price is...
Position opened 1238.15 Triple top formation, two clear bands, three clear heads. Bearish divergence on the MACD (and RSI) S&P rejection of 2650 range, potential for a bit more upside. Target 1 - 1228 Target 2 - 1221 Target 3 - 1211 SL - 2141 RR = 3:1+
Gold seems to have made an interim top at $1240 levels, just shy from our projection at $1250/70 levels. It is quite possible that the yellow metal may produce a corrective drop towards the $1215/1220 zone, before rallying further. Please also note that 50% retracement of the rally between $1182 and $1240 levels is seen at $1211 and that could be the next...
XAUUSD is testing its resistance at 1236.82 (61.80% & 100% Fibonacci extension , 38.2% Fibonacci retracement , horizontal overlap resistance) where it could potentially reverse down to its support at 1215.95 (61.80% Fibonacci extension , 38.2% Fibonacci retracement , horizontal overlap support). Stochastic (55, 5, 3) is approaching its resistance at 95% and there...
Gold took off its rally after finding support at $1216 levels earlier and drifting sideways/consolidation. The yellow metal reached close ($1240) to our first projected soft target at $1250 levels yesterday. Looking into the wave structure, as Wave C progresses, it looks to be the last leg at the moment and one can expect yet another high before a meaningful...
In this chart we see a reversal rising wedge after a nice uptrend and pump also they need a retracement becouse: -Stoch 1D is hardly overbought and also there we have a confirmed bearish divergence -RSI 61.27 is bullish but near overbought zone -Macd still positive near overbought zone also -Volume still going down which is a bearish sign -This rising wedge also...
Gold structure remains in consolidation for now leaving less room to discuss the probable wave counts. We maintain the medium term bullish outlook towards $1250/70 levels for now. It remains to be seen whether the yellow metal reverses from current levels or from $1213/16 levels, going forward. To refresh the existing wave structure, please note that we can...
lots of people looking towards gold to see if it can rally back upto 1300 a new, smaller channel has formed and broken away from the old downtrend channel, resulting in the low of 1160 looking to find a good entry on gold, really for fuull bull we wanna see it stay above 1220 BUT it may come down as the market breathes towards the support levels shown COP just...