Get started

GC1! (Gold Futures)

#DRDGOLD R14.00 a massive level- watch for reversalAfter reaching a high of R24.50 in May 2023, DRD has retraced right back to the change of polarity point and 200 week moving average (green). The level of R14.00 also happens to be the 61.8% fib retracement level joining the swing highs from May 23 and Swing lows from Sep 22. Putting this all together tells me that the 14.00 level is a high probability of leading to a reversal in price and i will be watching this closely in the week ahead for a long entry. Also note the divergence on the RSI which has not formed a lower low in tandem with price.
JSE:DRDLong
by MarcoOlevano
XAUUSD Is this a dead-cat-bounce?Gold (XAUUSD) is on the 2nd straight bullish 1D candle after Wednesday's 2001.50 bottom. With this rebound it has recovered the 1D MA50 (blue trend-line), which it broke and closed below it on Wednesday. However this is the only (so far) divergence from the early 2023 pattern, which started with a massive reversal on the 1811.50 - 1805.00 Support Zone, the rally turned into a Channel Up and then reversed to a Channel Down below the 1D MA50 that hit in succession the 0.382, 0.5, 0.618. As a result, as long as the (dotted) Channel Down holds, we remain bearish, aiming at 1973 (the 0.382 - Support 1 Zone), which is marginally above the 1D MA200 (orange trend-line). Notice also how symmetrical the 1D RSI sequences between the two patterns are. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDShort
by TradingShot
GOLD → Trading within the descending channel GOLD confirms the lower boundary of the channel, forms a false breakdown of 2010 and reverses to form a counter-trend correction. Gold manages to grow on the background of the growing dollar index. Today there is no news that can somehow change the direction. Technically, gold, within the descending range, is heading towards the resistance area of 2042-2048. On the background of the correction, the price is breaking through MA-50 and the strong level of 2025. Ahead is MA-200 and no less important resistance zone 2035 from which a correction may follow with the aim of retesting 2025. Thus, within the range we should focus our attention on the area: 2035, MA-200. Breakout of this zone and price consolidation above it will form a potential for further growth to the previously mentioned target: liquidity and resistance zone 2042-2048. But if the bears sell the price, forcing a breakout of 2025 and consolidation below the level, then in this case, against the background of a rising dollar, gold may head towards the support area of 2004. Support levels: 2025, 2029 Resistance levels: MA-200, 2035 As part of the intra-range trading strategy, the price may reach the trend resistance and test 2048. But, still we have a strong dollar and strong sellers in the market. If the price goes back to 2025, we should be ready for further selling COMEX:GC1! TVC:DXY COMEX_MINI:MGC1! Regards R. Linda!
OANDA:XAUUSD
by RLinda
24
GOLD → Price returns to the descending range OANDA:XAUUSD is declining and testing local lows. The market has stopped paying attention to the conflict in the red sea, which is surprising, and focuses its attention on the comments of the Fed representatives, who are quite a lot of speakers and will speak this week. Of the news today, Core Retail Sales at 31:30 gmt is worth waiting for. Analysts expect unchanged data, but Bowman (FOMC) will speak at 14:00 and Williams (FOMC) will speak at 20:00, most likely to comment on the situation around inflation and further interest rate situation. Overall, the regulator is not ready to give up yet and may continue to keep the dollar strong. As for gold, the price is still in a neutral consolidation phase. A breakout of one of the boundaries may determine the outlook and it could be a support breakout. In general, gold is returning to the descending range and testing support levels for the possibility of further decline. Most likely, bears will try to hold their zone, in this case gold may test 2013 within the bearish trend in the nearest future. And in the medium term, target 1994, where there is a huge pool of liquidity. Resistance levels: 2024, 2030 Support levels: 2017, 2013, 2010 As the time horizons are determined both technically and fundamentally, gold may test local lows on the back of a rising dollar COMEX:GC1! TVC:DXY Regards R. Linda!
OANDA:XAUUSD
by RLinda
21
GOLD → How will the news affect the price?FOREXCOM:XAUUSD is updating a low of 2001.9 and forming a correction in a phase of waiting for news to be released at 13:30 GMT. At 13:30 Initial Jobless Claims will be published - analysts expect that the index may show worse data than in the previous period, and also, it is worth paying attention to Bostic's comments (FOMC), who will speak three times today: 12:30, 16:30, 17:05. The FOMC representatives have been making a lot of speeches this week. Technically, gold is forming a correction and consolidation in a low-volatility format, which may last until the news is released. It is impossible to determine the data in advance, but there are assumptions that the dollar index will continue its growth, in which case, gold may continue to fall after a retest of resistance. The moving averages indicate the continuation of the bearish trend. Resistance levels: 2013.7, 2016.8, 2025 Support levels: 2004.5, 1994.7, 1976.2 Technically, gold is in a downtrend and on the backdrop of the news may test resistance to capture liquidity before further declines TVC:DXY COMEX:GC1! COMEX_MINI:MGC1! Regards R. linda!
OANDA:XAUUSDShort
by RLinda
5
XAUUSD: First time under the 1D MA50 Gold broke under the 1D MA50 for the first time since October 13th and turned bearish on the 1D technical outlook (RSI = 41.420, MACD = 1.310, ADX = 35.745). The pattern that has emerged is a Channel Down with the price near its LL bottom. Consequently we expect a short term rebound to retest the 4H MA50 and then a new bearish wave towards the S1 level (TP = 1,980). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSDShort
by InvestingScope
GOLD → Correction to previously broken trend resistance FOREXCOM:XAUUSD is declining. Bulls failed to hold the 2050 area, but most likely there is a reason for that: the liquidity zone is near the previously broken resistance, and the geopolitical situation is complicated by additional Fed comments. The dollar index consolidated below 102.6 for a long time and it was logical to realize that the market was unable to go up, until the Fed commented again: "rates should be kept at a high level for some time, it is premature to talk about the beginning of the Fed's rate cut in March". This is logical against the backdrop of the red sea crisis, which is also very much affecting inflation in the world. BUT. It should be understood that this conflict directly affects the pricing of gold. High probability of appreciation of the asset. Technically, gold is declining towards the previously broken trend resistance. The market may be interested in support at 2038.9 - 2032. A false breakdown could form a liquidity grab and a bullish momentum. Resistance levels: 2050, 2064 Support levels: 0.382 fibo, 0.5 fibo (2038.9), 0.618 fibo The growth of gold, as a security asset amid the crisis, may continue after the market retests the previously broken trend resistance COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
8
XAUUSD POSSIBLE 120 pips bullish setupsince last week gold had a very indecisive and unclear price action the overall direction was unclear but since geopolitical situation is getting serious and serious i think we should be looking at the bullish direction. i have found a pretty good scenario with a good entry if a bullish move occurs . First the price reached a daily keylevel and fibbonacci golden zone level then the last 4H candle closed as a doji hammer indicating strength of buyers on lower tfs we can find a formation of an inverted head and shoulder + rsi divergence. i guess the break of the neckline could trigger a bullish continuation towards the 2050s.
EIGHTCAP:XAUUSDLong
by xAB777
GOLD world markets increased slightlyWorld gold prices today (January 16) increased slightly as investors increasingly searched for safe haven assets due to concerns about tensions in the Middle East and new expectations for the US Federal Reserve (Fed). ) will cut interest rates sooner than expected. The Federal Reserve has signaled three potential interest rate cuts this year; Meanwhile, European Central Bank committee members are rejecting the idea of ​​easing in 2024. The ECB's hawkish stance contrasts with the Fed - which is expected to cut interest rates later this year. However, the Federal Reserve is pushing back the timing of its interest rate release. Markets see more than a 70% chance of the Fed easing monetary policy in March. Markets are pricing in six possible rate cuts this year, double what the central bank indicated last month.
OANDA:XAUUSD
by Xayah_trading
GOLD → The price will continue to rise provided...FOREXCOM:XAUUSD formed a rally at the end of last week and broke the resistance of the downtrend. The reason is another armed crisis, but in Southwest Asia. On Monday, the market opened the session with price strengthening and retesting 2058. The mood of the market is such that the price growth may continue in the medium term. There is no sense to pay attention to the dollar now, temporarily the correlation in the pair is decreasing and fundamentally gold looks quite a strong asset. Today the volatility may be lower than the daily average due to the fact that it is a holiday weekend in the USA. Technically, as the market is testing the level of 2050, the price consolidation above this area will form a bullish potential, which in the medium term can push the price to 2070, 2100, 2150. It is also worth paying attention to the moving averages. Support levels: 2050, MA50+MA200, 2039 Resistance levels: 2058, 2064, 2070 The market is testing the support, against which gold can strengthen on the background of favorable fundamental background for the asset TVC:DXY COMEX:GC1! Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
28
XAUUSD First 4H Death Cross in 4 months. Will it reverse?Gold (XAUUSD) followed our January 08 buy signal (see chart below) and rebounded on the 1D MA50, easily hitting the 2040 Target: This time we have a distinct technical formation arising as the pair is forming the first 4H Death Cross since September 28 2023. In fact, the price action is very similar to the Death Cross that was formed a few days prior that (September 14). After a 0.786 Fibonacci rebound, the price collapsed to a new Low. As a result, we see a rise to 2070 (just below the 0.786 Fib) as a realistic short-term action, but below the 4H MA50 (blue trend-line) we will short the break-out and target Support 2 at 1972.40 (just above the 1D MA200 (yellow trend-line)). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSD
by TradingShot
GOLD → Why could the metal's price rise continue? FOREXCOM:XAUUSD closes the trading week above the opening, which is quite a positive sign, as the market has obvious reasons for the rally, which can continue up to 2150. We are living in a time of a 30 year record number of armed conflicts with over 180 clashes. This is all affecting the market, including gold. A recent reason for gold's rally was the military operation against the Houthis in Yemen by the U.S. and the Great Britain for the freedom of the sea route. As part of the rally, the price is overcoming bearish resistance and forming further preconditions for a possible rise. There is not much fundamentally significant news in the coming week, the world is focused on the war in the Middle East, which is still ongoing and the new armed conflict in Southwest Asia. This is pre-determining the medium-term outlook for gold. The dollar has been receiving bullish news for the last two weeks, but continues to consolidate without any bullish reaction under the resistance level of 102.6. The market is probably waiting for downside signals. Gold on the other hand breaks trend resistance, which temporarily detaches the correlation between the assets, hence the format of technical and fundamental analysis changes a bit. The coming week may see a retest of local support before a further retest. Now all eyes are focused on the resistance of the global range 2050-2070 and it is likely that in the medium term gold may break this level and start to form a new global range. TVC:DXY COMEX:GC1! Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
12
XAUUSD Bullish above and bearish below this level.Gold has had the strongest 2 day rally as this week closed since December 14th. This rally was initiated on the MA50 (1d), which is where all (2) Higher Lows of the Channel Up where priced at. Technically this maintains the long term Channel Up but there is also the dotted Channel Down that is intact. Trading Plan: 1. Sell as long as the price doesn't cross over the dotted Channel Down. 2. Buy if it crosses above it. Targets: 1. 1995 (bottom of Channel Down). 2. 2089 (Resistance 1). Tips: 1. The RSI (1d) is about to cross its MA trend line. Every time this happend since October, it has been a buy signal. Please like, follow and comment!! Notes: Past trading plan:
FX_IDC:XAUUSD
by TradingBrokersView
Gold: Recovery? ❤️‍🩹Since yesterday, gold has been moving slightly higher. We're therefore one step closer to fulfilling our primary expectations. We still expect the price of the precious metal to rise further in the course of the turquoise wave B, and the upcoming high should be well above the 4th December high. However, it could also be that the price has already placed the high. This alternative scenario comes into play if the price falls below the support level of $1935 and has a probability of 40%.
COMEX:GC1!Long
by MarketIntel
GOLD → It's a stalemate. The market can grow FOREXCOM:XAUUSD reaches our target, but after a false breakdown of support 2016, the market quickly buys back all the fall. Now the price is heading towards a strong resistance The most interesting thing is that three times in a row the US market received fundamentally bullish news. The TVC:DXY has been in the same place for 10 days now and cannot pass through resistance, which speaks volumes about the state of the index and the mood of the market. The market is overheated and in all likelihood the index is preparing for a decline. Gold is not so eager to react to bearish news and at any opportunity the market tries to buy back the fall. At the moment the price of gold is heading to the resistance of the ascending channel, from here two scenarios can develop: 1) False breakout may lead to a pullback, within which the price may break through 2031.8. Consolidation below this level will continue the correction phase and within the descending channel the price may head towards 2016 2) False breakout will form a small correction to 2030-2031. But, the fundamental background will play its role and the price will start forging resistance retests for a breakout. Breakout of downside resistance and 2038.9 level is a signal and price consolidation above these areas will be confirmation Support levels: 2031.8, 2025 Resistance levels: MA-200, 2038.9 I think that the chance is higher towards the resistance breakout than towards further decline. We follow the price reaction beyond the mentioned zone and wait for confirmation of one or another scenario to open trades Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
13
GOLD → How might today's news affect gold?FOREXCOM:XAUUSD is trading in a range, as evidenced not only by trading between levels, but also between moving averages. The reason for this is the controversial fundamental environment. The market is reacting weakly to bullish news for the dollar because fundamentally it is already overheated. Speculators react very strongly to negative news than positive news and in the current environment this is worth considering. Important news is being published today. In general, analysts are expecting bullish CPI data and bearish Initial Jobless Claims data. Bad data for the $ will push gold up, to the point where the price could change its local trend. But good news for the $ may continue to form an actual range for gold 2015 - 2050. It is worth paying attention to the strong resistance on the dollar 102.6, technically, the index is ready to go down and very strongly (This should have a positive impact on the price of gold), but I wonder what will show today the funamental market. Support levels: 2030, 2020, 2015 Resistance levels: 2039, 2049 On the news, the price may test strong zones. At the moment, there is no clear understanding of the strength of the news we will receive, but according to a number of assumptions we have a chance to strengthen the price of gold TVC:DXY COMEX:GC1! COMEX_MINI:MGC1! Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
20
GOLD → Bounce to 2050, or consolidation 2030-2040FOREXCOM:XAUUSD is trading within a descending channel, from support the price is heading towards resistance, while the dollar continues to consolidate in anticipation of tomorrow's news. Gold price after another false breakdown of support and retest of the liquidity zone forimizes the rally and tests 2040. Most likely the target for the market is embedded higher, around 2048-2050 Pay attention to the dollar. The price is in consolidation for 6 days near the level of 102.6. Important news is published tomorrow, the market is probably waiting for bad news for the dollar, as the bears are forming a strong resistance zone. Gold may enter the risk zone (resistance area) before the news, but if the price does not pass the 2040 area, the price will form a consolidation until tomorrow waiting for the fundamentals. Support levels: 2030, 2023 Resistance levels: 2039, 2049 The price is strengthening towards the resistance, the target for the market is the area of 2050. But if the price does not pass through 2040, the market will start to form consolidation 2040-2030 TVC:DXY COMEX:GC1! COMEX_MINI:MGC1! Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
25
GOLD suddenly turned around and slightly decreasedWorld gold prices were relatively stable with spot gold falling 5.3 USD to 2,023.5 USD/ounce. Gold futures were last traded at 2,029.3 USD/ounce, down 3.7 USD compared to yesterday morning. Investors are waiting for US inflation data to get more clarity on the path of the US Federal Reserve (Fed) interest rates this year. The USD weakened, the US Dollar Index (DXY) which measures greenback fluctuations with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) fell 0.21%, to 102.36. Gold suffered heavy losses over the past week as traders gradually scaled back speculation that the Fed would start cutting interest rates in March 2024. This idea has sent the dollar soaring, which has also put pressure on bullion prices. However, the yellow metal has managed to stay above $2,000 an ounce after surpassing that level in early December. Gold prices will also rise by around 10% in 2023.
OANDA:XAUUSDShort
by Xayah_trading
XAUUSD: Turning bearish if the 1D MA50 breaks.Gold (XAUUSD) stopped its 10 day pullback yesterday on the 1D MA50, which is the level where the short term Channel Up priced the previous HL on December 13th. The 1D timeframe is technically neutral (RSI = 47.836, MACD = 6.750, ADX = 32.595). If the 1D MA50 is crossed though, the trend will turn bearish in a way comparable to the May 17th 2023 bearish crossing. This was the bearish extension after the one year Channel Up peaked on a HH and declined all the way to the 1D MA200 and under. We expect a similar course to be followed, so if the price crosses under the 1D MA50, we will go short on the long term with one target on the 1D MA200 and the S2 level (TP1 = 1,972.50) and a second on the S3 level (TP2 = 1,928.10). Notice that a 1D RSI Bearish Divergence has preceeded the May 4th peak. We can see a similar pattern since October 27th. See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSDShort
by InvestingScope
GOLD → False breakout leads to counter-trend correctionFOREXCOM:XAUUSD within the descending price channel forms a false break of support after which we see the strengthening, which began yesterday. On the background of the downtrend the price forms a false breakdown of the level of 2031.8, after that during several hours the price fixes above this level, which forms a bullish position in the market. Within the current counter-trend correction, the price may reach the resistance of 2048 range or trend resistance. There are no important news that can affect the price today, most likely the price will continue its direction to the zone of interest, because above 2049 there is a large enough pool of liquidity. It is too early to talk about the trend change. Support levels: 2030-2031 Resistance levels: 2039.3, 2049.3 The counter-trend correction may reach the mentioned trend zone. Further we should watch the price reaction to the mentioned resistance area as well as to the fundamental reasons, which can both break the trend and continue it TVC:DXY COMEX_MINI:MGC1! COMEX:GC1! Regards R. Linda!
OANDA:XAUUSD
by RLinda
17
GOLD → The downtrend continues to form FOREXCOM:XAUUSD has been declining on the basis of fundamentals since last week, which is what I was preparing you for. The price makes a false break of resistance and decreases by 1.8%. Yesterday we analyzed the situation from both fundamental and technical points of view. Gold, as we expected, is declining towards the support. The price is heading towards the lower boundary of the trend, from which a small correction to the resistance may follow. If the fundamental background ( TVC:DXY ) does not change in the next few weeks, the price may test the levels even lower in the future. Technically, now we expect a correction from the 2023-2020 area to one of the nearest resistances. BUT, if the channel support is broken and the price forms a consolidation below 2023-2020, the decline will start without a pullback, the target in this case will be the area of 2015, 2010, 2000. Support levels: 2030, 2015 Resistance levels: 2039, 2049 The price may continue to be inside the descending channel, having formed a bounce from support to resistance. Technically and fundamentally, the price is preparing for a decline. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
12