Dark Cloud Cover at PCZ of Bearish Bat on PlatinumNot Much in the way of indicators except your RSI is slightly overbought and that's about it but in General this Price Action is pretty Bearish and you'd expect a decent move down from here.
GOLD-SILVER
XAUUSD UpdateAnother week another post that the gold is short despite it is melting up on a Russian-Ukraine war hype.
Yes, the triangle scenario is getting extremely challenged. I even allow a scenario where the triangle is broken and I have to relabel it in some other bearish way. Tradingwise, I am very close to the point where I give up with my shorts to step outside and watch whatever happens next be it a melt up or forming the local top which will allow me to re-enter. If it melts up - perhaps I will miss that move.
I will elaborate more using my blog / website referring to Silver charts for confirmation.
Vox Royalty finds weekly supportI am going to assume that the price of gold is supported around the $1800 for the rest of 2022. If that level were to break, and a bear market ensued, precious metals miners, #GDX, etc. would come under pressure and the current rising tide that is lifting all boats would recede and companies like Vox Royalty Corp may come under pressure becue of sentiment.
Fundamentally, the Vox Royalty story goes from strength to strength and this coming earnings report should highlight the accretive nature of the current producing royalties which will form a base for what happens in the rest of 2022 and then beyond. With all that said, I don't think we get back down to C$2.69, which is the previous support, imbalance. This week's low dipped into C$3.66 and was rejected, which to me shows that the support level is currently there with the volume confirming the price action.
Looking left across the chart, there is no level of market structure to worry about, which means liquidity runs above C$4.00 is the path of least resistance.
AUY's Inevitable Path to $7Is it finally time to be bullish on gold and silver mining stocks? A lot of indicators are pointing to YES. There will certainly be pullbacks along the way, but with interest rates rising and war tensions overseas, precious metal stocks are beginning to gain a lot of interest. NYSE:AUY will be the perfect example of that.
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There will be ,,golden‘‘ times coming From a chart technical perspective we are nearly at the highest point of the cyclicality. It’s unbelievable if you recognize how many years it’s costs to stay there where we are.
Anyway, if we see at the fundamentals right now, it doesn’t seems that bad for gold:
- inflation isn’t peaking
- Russia Ukraine could getting more worse (I don’t hope so)
- Gold is hitting 1870$ for several times &
- (If we should gonna get more worse economic datas than gold will more rise)
We are at a level of 1870$ right now. We could nearly hit 1900/1920 (or even more) in middle of march. If the FED will hike the interest rates we are gonna see big pullback to much bigger lower levels like 1720 or 1640. For now…
XAUUSDAs you can see, with Engolf at the resistance level all orders are collected and with the next return it will most likely pass
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Good luck..
XAUUSD UpdateGold did it again. Smashed my shorts. Still what happened in the red rectangle does not allow me to interpret the recent development as a bullish move. I keep watching for a turnaround. Though now it is again extremely challenging, and there is no divergence against the RSI.
I remember I hesitated to label the recent abrupt sell-off as 5 wave impulse thinking it was wxy in wave 1 of the leading triangle. I was right about wxy, I was wrong about the leading triangle.
Now I am back to square one, betting on a turn around in gold with no hard evidence so far on 4 hour chart.
debt is the problem, debt to gdp and debt to $spy too hiWill the market just stall for a decade or 2 as we work through the debt and allow the economy to catch up?
at which debt to gdp and sp500 levels will the debt level be healthy? SPY GLD SPX QQQ TLT IEF DIA VTI AAPL
Gold - Odds of bullish breakout are increasingGold keeps holding up pretty well despite the prospect of upcoming rate hikes in 2022. It continues its choppy price action within the neutral zone between 1750 USD and 1835 USD. At the moment, it trades slightly below the upper bound of the neutral zone which increases odds of yet another bullish breakout. We noted previously that we expected such breakout to be accompanied by resumption of the uptrend. However, previous breakouts became invalidated shortly after their occurrence took place. Because of that we will pay close attention to price action and we will reassess the situation as developments move forward.
Illustration 1.01
Picture above shows the daily chart of XAUUSD. It also shows the price which has returned back into the upward moving channel. This is bullish development.
Technical analysis - daily time frame
RSI and Stochastic are bullish. MACD is bullish too. Same applies to DM+ and DM-. ADX contains low value which signals that no trend is currently present. Overall, the daily time frame is bullish. However, lack of suggests that price action will continue to be choppy until breakout above the neutral zone or below it takes place.
Illustration 1.02
Picture above depicts the daily chart of XAUUSD and its previous false breakouts and invalidations. We will observe whether gold will manage to break above the resistance at 1835 USD without being invalidated shortly after.
Technical analysis - weekly time frame
RSI and Stochastic are neutral. MACD is bullish. DM+ and DM- are mixed with ADX suggesting the presence of the neutral trend. Overall, the weekly time frame is neutral.
Support and resistance
Main resistance lies at the upper bound of the neutral zone (1835 USD) while main support sits at its lower bound (1750 USD). Other important resistance levels can be found at 1850 USD, 1877 USD, 1916 USD. Other important support levels can be found at 1725 USD, 1700 USD and 1676 USD.
Please feel free to express your own ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Your own due diligence is highly advised before entering trade.
Seasonal Futures Market Patterns Gold & SilverHey traders today I wanted to go over the best Seasonal Patterns in the Gold & Silver Futures Market. Gold & Silver and other precious metal markets follow an annual reliable seasonal pattern due to supply and demand . Knowing when to find these seasonal market patterns on your charts can really benefit us in our trading.
Enjoy!
Trade Well,
Clifford
XAUUSD GOLD Technical Analysis (POTENTIAL BREAKOUT)-Bullish pennant daily chart pattern.
-Long term bullish in gold/commodities with inflation and with potential inflation rated.
-Buy low/Sell high.
-Potential stop loss hunt when the price gets more squeezed closer together. Normally a big explosive move to the upside comes from this.
-I could see a fake-out to the downside and trap a lot of traders then the big money takes the price to the upside.
Gold UpdateTo answer your question of are we still in wave i, I would say no. We may have passed right through wave ii and on to our next descent.
XAUUSD UpdateThe narrative on gold and silver is provided within the Weekly Update following status in my profile.
XAUUSDDuring the week, we expect gold to continue to fall after hitting the resistance level. We also drew the movement steps in this time.
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Gold Update I continue to hold a bearish bias towards gold despite yesterdays recovery and a powerful bounce. Again it is too speculative to label the count. I do not dismiss the idea that whatever is happening now could be a leading diagonal. It is interesting to see how it corresponds to the crypto market. I will cover it in my Weekly Update.
permabullgold going doink doink dooink! in the cup! will we see a new handle?! 2 dayly cycles and back 2000 8-)
classic tweezer-top into head and shouldersas said, the writing is on the wall. with the dxy rolling over now, gold has an easy path to 2000+
GOLD Forecast 2/1Here is a downtrend continuation setup once price starts to retest and close under 1800. NFP is Friday & I am expecting a low to made around 1765 before any pull back.
Rising bear wedgeA break down of the rising bearish wedge (on low volume) is a huge warning shot fired. The measured move is 30 cents. I think a head and shoulders forms.
Lower highs and higher lows mean higher prices in goldIn 2005 breakout, we saw lower highs and higher lows,
In 2009 breakout, we saw lower highs and higher lows. This didn't reach it's peak until 2011.
What will come next with our current setup?
Gold UpdateDespite a very impulsive move, gold waves are difficult to count. I even assumed on this chart that the whole move could be wxy in wave 1 of a leading diagonal. There is no divergence on RSI meaning that there should be new lows very soon. At the same time gold can easily rip shorts in a very sharp countertrend move. Gold is notorious for doing wild unexpected swings that only later come together as jigsaw pieces of standard patterns.
I will refrain from labelling the smaller waves so far to let the count reveal itself.
USDOLLAR: BREAKOUT OF BULLISH TRENDLINE? or ANOTHER BULL RUN?Hello Enthusiast Forex Trader! Here's Long-term outlook for USDOLLAR , Support the Channel by smashing the FOLLOW and LIKES Button, then Share your opinion on the Comment Section below :)
*USDOLLAR creates a Descending Broadening Wedge pattern on Daily Timeframe
*USDOLLAR is moving above the Exponential EMA200 and bullish trendline
*Stochastic is pointing up in the neutral area, it could indicate a bullish momentum ahead.
*If the price exceeds the support area, it will invalid the roadmap and USDOLLAR can move in bearish phase/sideways
DISCLAIMER:
This isn't a recommendation to buy or sell currency pairs, only an Outlook from technical perspective.
Markets hint at Major CrashThis review comes from evaluation of prices from multiple markets including Silver, Gold, Bitcoin/crypto and Stocks (specifically sp500)
Silver has increased volume on the daily chart and dropped sharply 3-5%
Gold similarly has sharply dropped with increase volume
SP500 also has plummeted over the past couple weeks.
There is mass exodus in multiple markets across the board with increase volume.
Be on the look out for bull traps preceding further sell off.
This is a speculative review and not advice for trading. The market is not healthy at current levels and most experts would agree. There may be money to be made but it is not by healthy growth which I would consider a poor investment.
