Get started

Goldfutures

Technical analysis update: Gold (21st December 2021)During the summer 2021 we expressed our belief that gold would end up trading within the range between 1750 USD/oz. and 1835 USD/oz. for an indefinite amount of time. We also noted that the bullish trend of higher degree was weakening and becoming neutral. Currently, gold trades slightly below 1800 USD/oz. Despite gold's sideways moving price action we continue to maintain a bullish view on gold, especially in the long-term. We expect an eventual bullish breakout from the neutral zone; and, at the same time, we assume such breakout will coincide with resumption of the bullish trend of higher degree. Additionally, we think this resumption of uptend will culminate in a new all time high for gold in 2022. Our view is supported by a combination of fundamental and technical factors.Main bullish drivers for gold are persistent high inflation in the U.S. and decrease in quantitative easing program (by the FED) which poses substantial threat to further rise in the general stock market. Additionally, we think the FED will be unable to raise interest rates three times in 2022. Instead, we expect the FED to backpedal on its current plans (as it did in its latest hiking cycle between 2015-2018). Illustration 1.01 Illustration above shows the daily chart of XAUUSD. It also shows 20-day Simple Moving Average (blue) and 50-day SMA (red). Many false crossovers are observable which is indicative of the neutral trend. Technical analysis - daily time frame MACD remains in the bearish area. However, it points to the upside. We will observe it closely in the following days and we will watch out for bullish crossover above 0 points. We expect such a phenomenon to be accompanied by further rise in price. Stochastic oscillates in the upper area which is bullish but it currently points to the downside. RSI started to rise recently which is bullish. DM+ and DM- show bearish conditions. Though ADX remains relatively low. Illustration 1.02 Illustration above shows the daily chart ADX based on XAUUSD. It shows relatively low value which suggests the prevailing trend is neutral. Technical analysis - weekly time frame MACD, RSI and Stochastic are all neutral. DM+ and DM- show bearish conditions but ADX contains low value. Support and resistance Closest support of tremendous importance sits at 1750 USD and breakout below this price level would force us to reassess our bullish notion. Next important support lies at 1721 USD while the major support level lies at 1676 USD. Closest resistance of high importance sits at 1835 USD. Other important resistance levels are at 1916 USD, 1959 USD, and 1965 USD. Major resistance level lies at an all time high of 2075 USD. Illustration 1.03 Picture above shows the daily graph of XAUUSD. It depicts two alternative scenarios that current gold's setup allows. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
OANDA:XAUUSDLong
by Tradersweekly
14
Gold Futures - Technical Levels Gold tops out after printing a ATH back in August 2020 and then Trades within a descending channel printing Lower highs and respecting the top and bottom of the channel to contain the price action . A strong break outside of the channel in August 21 followed by a back test of the top of the channel in Sept and a healthy break to the upside after Inflation reports at 30 year highs . This leaves PA currently sitting at the POC, close above this region and we may test the next resistance or close below and we have the marked supports in chart . See my other chart on the DXY index ..linked below Know your Invalidation and Trade your Plan , I hope this gives you some insight .
COMEX:GC1!
by SJTRADESFUTURES
4
Technical analysis update: XAUUSD (25th August 2021)Gold took some step back after its breakout above 1800 USD. It currently trades around 1792 USD. We think upper bound of downward moving channel should be closely observed in the following days as it currently acts as immediate support for gold. Plunge below this level could lead to short term weakness. Although, we expect 1750 USD (previous support/resistance) to hold in case of further selling pressure. Stochastic is bullish. RSI continues to change back and forth from neutral to bullish on daily timeframe. MACD has bullish direction and we expect it to perform crossover above 0 points. We expect this to be very bullish for gold. In the big picture we remain bullish on gold with medium term price target of 1850 USD and long term price target of 1875 USD. Though, our price target for next 12 months is much higher at 2100 USD. Prior developements from 10th August 2021: Here we noted that price of gold was attractive for long entry. We also announced that we believe gold is near end of its struggle to move higher. Disclaimer: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
OANDA:XAUUSDLong
by Tradersweekly
6
BTC Futures, Gold Futures, Dollar FuturesI like to use these charts to get an overall feel for investor sentiment when trading/investing in these markets. I believe having future's pricing data available gives us some insight into whether we are in a Risk On/Risk Off environment. Right now, compared to a few weeks ago we see some changes across the board. BTC is below a key weekly level (below Daily 50 and Daily 200) and trading bearishly within a Demand Zone. We see Gold now above the Daily 50/200 trading bullishly. The Dollar and the Forex Dollar (DXY) seem to be in alignment with the bullish sentiment but is it going to be a "real" bull run or are we seeing short-term optimism waiting for the other shoe to drop based on US financial policy decisions?
CME:BTC1!
by alldyn_pip_king