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Goldfutures

Title: Gold Futures (GC1!), H4 bullish continuation! Type : Bullish continuation Resistance : 1942.4 Pivot: 1890.8 Support : 1879.9 Preferred case: Prices are on bullish momentum and abiding to our ascending trendline support. We see the potential for a bounce from our Pivot at 1890.8 in line 100% Fibonacci retracement towards our 1st resistance at 1942.4 in line with 61.8% Fibonacci Retracement. Our bullish bias is further supported RSI being at levels where bounces previously occurred and prices trading above our ichimoku clouds. Alternative scenario: If prices were to reverse, they can potentially dip towards our 1st support at 1879.9 which is a graphical swing low and also in line with 127.2% Fibonacci extension and 50% Fibonacci retracement. Fundamentals: Upon completion of the first round of talks between the warring countries, amid hostilities from both sides, is likely to see the precious metal in consolidation mode pending the development on the Moscow-Kyiv battles, both on and off the fields. As the situation remains fluid, we would reccomend investors to remain on the sidelines.
COMEX:GC1!Long
by Genesiv
Gold Futures (GC1! H4) due for a short pullback! | 24th Feb 2022Type : Bearish reversal Resistance : 1963.4 Pivot: 1943.9 Support : 1912.2 Preferred case: Prices have consolidated in a parallel channel. We see the potential for a short pullback from our Pivot at 1943.9 in line with 78.6% Fibonacci extension towards our 1st support at 1912.2 in line with 61.8% Fibonacci Retracement. Our bearish bias is further supported RSI being at levels where dips previously occurred. Alternative scenario: If prices were to continue its rally, they can potentially rise towards our 1st resistance at 1963.4 which is a new swing high and also in line with 100% Fibonacci extension. Fundamentals: Russo-Ukraine tensions seemed to escalate with the latest invasions from Russia, the precious metal rally will seemingly continue. As the TA and FA are in conflict, we prefer to remain on the sidelines.
COMEX:GC1!
by Genesiv
GOLD FUTURES-W1/D1-PIVOT LEVEL @ 1'919WEEKLY (W1) In a broading sideways price action (1677-1919) and under the influence of a DOUBLE BOTTOM IN PROGRESS ( see related ideas below) Currently above the clouds with a Lagging line above the clouds too ! Global weekly picture is positive, calling for a test of the former high @ 1'919 which should be seen as a KEY PIVOT LEVEL for the next move. Indeed, this level is the DOUBLE BOTTOM TRIGGER LEVEL and a clear breakout and sustainable move above 1'919 would confirm this double bottom formation and open the door for a technical target @ 2'161 (NEW ATH) RSI is above 50, @ 60.04 and is still converging to the upside. Only a failure to stay on a weekly basis above the cluster of 1831-1800 support area would force to a view reassessment of this expected bullish scenario calling for an upside breakout of the former high @ 1'919 DAILY (D1) In an ongoing uptrend channel, above the clouds and in a positive and constructive price action. First significant support to look at on a daily basis closing level is @ 1'845. A failure to hold above this level would be the first warning signal ahead of the MBB (1830) which also coincides with the ongoing uptrend channel bottom line support (corroboration with the weekly view previously explained) Last but not least, MAJOR DAILY SUPPORT being the DAILY CLOUDS (1'831-1'800) 4 HOURS (H4) In this time frame, a potential short term double top is in progress ! Watch and monitor closely the price action on the upcoming trading hours and check RSI in order to get signal of a potential short term bearish divergence. A failure to stay on a H4 closing basis, should be seen, as for D1, as a warning signal for a short term reversal,(tactical countertrend short term trading opportunity) still in a consolidation move in a broad bull trend. As usual, watch at shorter intraday time frame to get early signal (s) which will validate or invalide the implications previously mentioned. Do you like my analysis ? If the answer is YES, please do not forget : 1) to like it 2) for those who did not follow me yet on Trading View, please add Ironman8848 on your following list 3) and for those who do not have a Trading View access (the best charting application available at the moment !, please do not hesitate to sign up (different levels :-) , in clicking on the following link : www.tradingview.com Many thanks in advance. KInd regards Ironman8848 & Jean-Pierre Burki
COMEX:GC1!Long
by Ironman8848
GOLDen bulls getting readyCOMEX:GC1! formed a triangle chart pattern on the monthly chart .If Gold confirms this continuation pattern by breaking and closing considerably above the triangle (Ideally above the 1880-1900 area ) ,then the price could skyrocket in the following months towards the 2500-2650 area . So far It looks like it's going to break above the triangle since everything indicates that the bullish trend is stronger than ever . Stay tuned for any upcoming updates . Requests ,Suggestions and Remarks are all welcomed .
COMEX:GC1!
by StockAnalystPro
$1800 Pivot Point in Gold: Pros and Cons for the Precious MetalGold has been coveted by humans long before there were stocks, bonds, currencies, and other investable assets. The precious metal outdates the Bible’s old testament, with more than four hundred references to gold. Gold is a forever commodity as each ounce of the metal ever produced in the history of the world remains as part of the global stock. Around 197,576 tons of gold have been mined throughout history, with approximately two-thirds mined since 1950. Gold rallied early in 2022 but ran out of upside steam $1800 has been magnetic 2021 was an inside year for gold The factors supporting gold The issues weighing in the precious metal Miners extract approximately 2,500 to 3,000 tons of gold each year, adding to the above-ground stockpiles. Gold is a unique asset as it is a store of value or currency and an industrial metal. At the $1800 per ounce level at the start of February 2022, gold’s price was over seven times higher than the 1999 low of $252.50 per ounce. In 1999, the United Kingdom decided that gold was a barbarous relic of days gone by and sold half of the country’s reserves via an auction. The misguided decision created a bottom in gold, which has been in a long-term bullish trend for more than two decades. Gold’s role in the worldwide financial system has supporters and detractors. Perhaps the most significant validation of gold as a store of value comes from governments and monetary authorities that continue to hold the metal as an integral part of foreign currency reserves. Gold rallied early in 2022 but ran out of upside steam April COMEX gold futures were at the $1832.10 per ounce level on December 31, 2021. After a dip to $1783.80 on January 7, the precious metal rallied through January 25. The daily chart highlights the rally from $1783.80 to a high of $1856.70 on January 25. The over 4% rally occurred as the total number of open long and short positions in the COMEX gold futures market rose from 502,717 contracts on January 4 to 572,078 contracts on January 25, a 13.8% increase in the open interest metric. Price momentum and relative strength indicators rose with the price. Meanwhile, the January FOMC meeting ended the gold rally as the central bank told markets that quantitative easing would end in early March and the Fed Funds Rate would rise. The prospects for higher interest rates lifted the dollar index over the 97 level. After the Fed meeting, the rising dollar and higher rates weighed on gold, pushing the price back to the $1800 equilibrium level. $1800 has been magnetic For months, the $1800 per ounce level for nearby COMEX gold futures has been a pivot point. The weekly chart (featured above) illustrates the magnetic force of the $1800 level throughout 2021. Each time gold moved above or below the price that became a pivot point, gold returned to the level. Meanwhile, gold has made lower highs and higher lows since March 2021. The wedge formation suggests that a substantial move is on the horizon as gold straddles the $1800 level, but it is taking its time to develop. 2021 was an inside year for gold In 2021, gold did not make a higher high or lower low than in 2020. The trading range on the nearby COMEX futures contract in 2020 was from $1450.90 to $2063 per ounce, or $612.10. For 2021, it narrowed to $1673.30 to $1962.50 per ounce or $289.20, less than half the previous year’s trading band. The inside year came as gold digested the move to its all-time high at $2063 in August 2022. The price action reflected consolidation, and the wedge pattern since March 2021 suggests an upside bias for the precious metal. The factors supporting gold Gold may not have moved higher with many other commodities in 2021, but the metal remains an inflation barometer. The following factors support gold in 2022: According to the 2021 readings for the consumer and producer price indices, inflation is at the highest level in four decades. At the $1800 level, gold remains far above the 1980 high of $875 per ounce on the nearby futures contract. Central banks and governments continue to hold and accumulate gold and classify the metal as part of foreign currency reserves. The classification as a currency and reserve asset validates gold’s role in the worldwide financial system. Inflation is a challenging beast to tame. The US Fed has stated that it expects inflation to worsen before it improves. Bank of America recently forecast that the Fed will increase short-term interest rates seven times in 2022, lifting the Fed Funds Rate to the 1.75% level by the end of the year. With core CPI at 5.5% and PPI near 10%, even a decline in inflation will keep short-term interest rates in negative territory, supporting higher gold prices. Gold’s path of least resistance is a function of investment demand. If the wedge pattern resolves to the upside, expect trend-following buyers, speculators, and investors to pile into the gold market. Bullish trends often become self-fulfilling prophecies. Every dip in gold since 1999 has been a buying opportunity. The $1800 level does nothing to negate the long-term bullish trend. Critical support for the over two-decade bull market sits at the March 2020 $1450.90 low, around $350 below the current equilibrium level. While the case for a higher gold price is compelling, short-term bearish factors are lurking. The issues weighing in the precious metal The bear case for gold includes: Higher interest rates increase the cost of carrying gold. Gold competes with other investment assets for capital. Rising interest rates tend to weigh on the price. A rising dollar tends to be a bearish factor for the precious metal. The dollar is the world’s reserve currency and the pricing benchmark for most commodities, including gold. Gold disappointed investors in 2021. The metal would need to break significantly higher, perhaps over the $1900 level, to entice them to come back and buy the precious asset. Gold has been a store of value and means of exchange for thousands of years and remains the oldest and most coveted asset. In early 2021, gold continues to trade around its magnetic $1800 pivot point, and I continue to favor the upside for the metal. While I follow the short-term trend and trade from the long and short sides of the market during the current consolidation period, I invest all profits in physical gold as the long-term trend and history favor gold’s continued role as an asset with staying power. -- Trading advice given in this communication, if any, is based on information taken from trades and statistical services and other sources that we believe are reliable. The author does not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects the author’s good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice the author provides will result in profitable trades. There is risk of loss in all futures and options trading. Any investment involves substantial risks, including, but not limited to, pricing volatility, inadequate liquidity, and the potential complete loss of principal. This article does not in any way constitute an offer or solicitation of an offer to buy or sell any investment, security, or commodity discussed herein, or any security in any jurisdiction in which such an offer would be unlawful under the securities laws of such jurisdiction.
COMEX:GC1!
by Andy_Hecht
1
Technical analysis update: Gold (24th January 2022)Gold continues to trade slightly above the key technical level at 1835 USD. We continue to maintain a bullish view on XAUUSD. However, we would like to voice a word of caution as there is a FOMC meeting this week which may present itself with increased volatility in precious metals. Investors will get more clues on upcoming rate hikes and economic tightening which poses threat to the general stock market and cryptocurrencies. However, in turn, we think this is a positive catalyst for the price of gold. There is a very high likelihood of capital getting out of the cryptocurrency sector which is being hammered down by a strong downtrend (and which we predicted already in November 2021). We previously noted that this would cause rotation out of cryptocurrencies into more conservative assets like precious metals. We continue to maintain this same notion even today. Our short-term price target stays at 1850 USD while our medium-term price target is 1875 USD. Illustration 1.01 Picture above shows the daily chart of XAUUSD with volume indicated by green and red bars below it. Preferably we would like to see further increase in volume which would further boost the bullish case for gold. Technical analysis - daily time frame RSI, MACD and Stochastic are all bullish. DM+ and DM- are bullish too. ADX continues to increase which suggests that the bullish trend has resumed. Overall, the daily time frame is bullish. Technical analysis - weekly time frame MACD, RSI and Stochastic are all bullish, similarly like on the daily time frame. Same applies to DM+ and DM-. ADX continues to undergo reset. Overall, the weekly time frame is bullish. Support and resistance Neutral zone appears between 1750 USD and 1835 USD which currently act as two very important supports. Closest resistance lies at 1877.14 USD. Another resistance above that is at 1916.615 USD. Major resistance lies at 2075.282 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.
OANDA:XAUUSDLong
by Tradersweekly
2
Technical analysis update: Gold (5th January 2022)On 3rd January 2022 gold dropped to 1798.380 USD which coincides with price retracement towards its 20-day SMA. Price halted its decline slightly above this technical indicator and then reversed back up. In our view this is very bullish and odds for a bullish breakout above the neutral zone (between 1750 USD and 1835 USD) are increasingly growing. We still remain bullish on gold and await resumption of a bullish trend once breakout above 1835 USD occurs. We would like to set a short-term price for gold to 1835 USD and medium-term price target to 1850 USD. Technical analysis - daily time frame RSI continues to develop a bullish structure. MACD is bullish too; indeed, it performed a bullish crossover on 27th December 2021. This strongly bolsters the bullish case for gold. Stochastic oscillates within the upper area which is bullish as well. DM+ and DM- show mixed conditions. ADX contains low value which suggests that the prevailing trend remains neutral. Illustration 1.01 Picture above shows the daily chart of XAUUSD. It also shows that volume has been increasing since 27th December 2021. In our opinion, this signals that a bullish breakout is impending. Technical analysis - weekly time frame RSI is neutral. Stochastic is bullish and MACD is also bullish. Indeed, MACD performed bullish crossover above 0 points, similarly like on a daily time frame. DM+ and DM- are both declining and show mixed conditions. ADX has low value which further supports that prevailing trend is neutral. Illustration 1.02 Chart above shows the weekly graph of MACD on XAUUSD. Recent crossover is clearly visible. Support and resistance Short-term resistance lies at 1835 USD and it acts as the upper bound of the neutral zone. Short-term support lies at 1750 USD and it acts as the lower bound of the neutral zone. Another important support lies at 1721 USD while the major support level lies at 1676 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. Our most recent idea that shows possible setups on gold: Bullish area is indicated above 1835 USD while bearish area is indicated below 1750 USD. 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.
OANDA:XAUUSDLong
by Tradersweekly
8
Gold (XAUUSD) Weekly OutlookGold is holding above $1800 on the weak US dollar. The yearly inflation surged by 7%, the highest level since June 1982. The US dollar index hits multi-week lows at 94.62 despite the hawkish Fed. It regained above 95 level due to catch up in US treasury yields. Gold hits an intraday high of $1822.91 and is currently trading around $1822. Global stock market- Bearish (Positive for gold) US dollar index –Bearish (positive for gold) US10-year bond yield- Bullish (Negative for gold) DISCLAIMER: ((trade based on your own decision )) <>
OANDA:XAUUSDLong
by Goldsignal75
$XAUUSD #Gold To Breakout or Not - Full AnalysisOn higher timeframe Gold XAUUSD is consolidating and is reaching a point of possible breakout. Gold (XAUUSD) has been consolidating and has been trying to breakout of 1828-1830 level bit last week it failed to do that. Now because there is a lot of liquidity above 1830, Gold can try to create a fake breakout to the upside. So make sure you watch this level and also wait for a proper confirmation before taking a huge long position. In this analysis we are revising higher time frame structure covering all bearish and bullish scenarios. Trade what you see and ignore any hypes. Stay objective. Rules: 1. Never trade too much 2. Never trade without a confirmation 3. Never rely on signals, do your own analysis and research too ✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums. ✅ Follow me for future ideas, trade set ups and the updates of this analysis ✅ Don't hesitate to share your ideas, comments, opinions and questions. Take care and trade well -Vik ____________________________________________________ 📌 DISCLAIMER The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only. Not a financial advice or signal. Please make your own independent investment decisions. ____________________________________________________
OANDA:XAUUSD
by vikinsa
5
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