GOLD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
We are going short on the GOLD with the target of 2,659.028 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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Gold-short
GOLD Will Move Lower! Sell!
Here is our detailed technical review for GOLD.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 2,686.729.
Considering the today's price action, probabilities will be high to see a movement to 2,659.435.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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GOLD BEARISH BIAS RIGHT NOW| SHORT
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Previous week’s green candle means that for us the GOLD pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 2,619.804.
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GOLD BEARISH BIAS RIGHT NOW| SHORT
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GOLD uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 2,655.537 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the GOLD pair.
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GOLD SENDS CLEAR BEARISH SIGNALS|SHORT
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Bearish trend on GOLD, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 2,630.641.
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GOLD Will Move Lower! Sell!
Here is our detailed technical review for GOLD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 2,644.615.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 2,625.451 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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GOLD SENDS CLEAR BEARISH SIGNALS|SHORT
Hello, Friends!
GOLD uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 2,592.930 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the GOLD pair.
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GOLD BEARS ARE STRONG HERE|SHORT
Hello, Friends!
Bearish trend on GOLD, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 2,576.872.
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GOLD BEARS ARE STRONG HERE|SHORT
Hello, Friends!
GOLD uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 2,577.407 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the GOLD pair.
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GOLD Will Move Lower! Sell!
Here is our detailed technical review for GOLD.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 2,626.558.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 2,600.886 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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GOLD Will Fall! Short!
Take a look at our analysis for GOLD.
Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 2,618.93.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 2,576.56 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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GOLD BEARS ARE STRONG HERE|SHORT
Hello, Friends!
GOLD pair is in the downtrend because previous week’s candle is red, while the price is obviously rising on the 2H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 2,606.670 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
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GOLD Is Very Bearish! Short!
Take a look at our analysis for GOLD.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 2,695.926.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 2,617.334 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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GOLD BEARS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
GOLD pair is trading in a local downtrend which know by looking at the previous 1W candle which is red. On the 15m timeframe the pair is going up. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 2,647.359 area.
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GOLD Will Move Lower! Short!
Here is our detailed technical review for GOLD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 2,637.581.
Considering the today's price action, probabilities will be high to see a movement to 2,613.313.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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GOLD Will Go Down! Short!
Please, check our technical outlook for GOLD.
Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 2,641.783.
Taking into consideration the structure & trend analysis, I believe that the market will reach 2,628.904 level soon.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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GOLD SENDS CLEAR BEARISH SIGNALS|SHORT
Hello, Friends!
It makes sense for us to go short on GOLD right now from the resistance line above with the target of 2,610.373 because of the confluence of the two strong factors which are the general downtrend on the previous 1W candle and the overbought situation on the lower TF determined by it’s proximity to the upper BB band.
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GOLD Will Go Lower! Sell!
Take a look at our analysis for GOLD.
Time Frame: 3h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 2,643.39.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 2,619.84 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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GOLD SENDS CLEAR BEARISH SIGNALS|SHORT
Hello, Friends!
Bearish trend on GOLD, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 2,543.218.
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GOLD Is Very Bearish! Short!
Please, check our technical outlook for GOLD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 2,647.747.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 2,604.970 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 BEARS ARE STRONG HERE|SHORT
Hello, Friends!
It makes sense for us to go short on GOLD right now from the resistance line above with the target of 2,616.113 because of the confluence of the two strong factors which are the general downtrend on the previous 1W candle and the overbought situation on the lower TF determined by it’s proximity to the upper BB band.
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GOLD Is Very Bullish! Buy!
Take a look at our analysis for GOLD.
Time Frame: 9h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 2,625.735.
The above observations make me that the market will inevitably achieve 2,672.574 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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