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Goldfutures

GOLD FUTURES (GC1!), H1 Potential for Bearish DropType : Bearish Momentum Resistance : 1834.7 Pivot: 1816.5 Support : 1785.8 Preferred Case: On the H4, with price moving below the ichimoku cloud and within a descending channel, we have a bearish bias that price will drop from the pivot at 1816.5 in line with the overlap support to the intermediate support at 1806.2 in line with the 100% fibonacci projection, 127.2% fibonacci extension and horizontal swing low support. Once we have downside confirmation, we would expect bearish momentum to carry prices to 1st support at 1785.8 where the swing low support, 100% fibonacci projection and -27.2% fibonacci expansion are. Alternative scenario: Alternatively, price may rise above pivot structure and head to the 1st resistance at 1834.7 where the swing high resistance, 78.6% fibonacci retracement and 78.6% fibonacci projection are. Fundamentals: With no major news events for Gold and expected further strength in the DXY, we have a medium bearish view on gold.
COMEX:GC1!Short
by Genesiv
GOLD FUTURES (GOLD1!), H1 Potential for Bullish ContinuationType : Bullish Rise Resistance : 51792 Pivot: 51152 Support : 50529 Preferred Case: On the H1, price is moving above the ichimoku cloud and has broken out from descending trendline which supports our bullish bias that price will rise to the pivot at 51152 where the swing high resistance, 78.6% fibonacci projection and 61.8% fibonacci retracement are. Once we have upside confirmation, we would expect bullish momentum to carry price to 1st resistance at 51792 in line with swing high resistance and -61.8% fibonacci expansion. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support at 50529 in line with the swing low support, 61.8% fibonacci retracement and 100% fibonacci projection . Fundamentals: With greater concerns about an impending US recession, following Chair Powell’s comments, gold price is likely to trade higher, giving us a weak bullish bias.
MCX:GOLD1!Long
by Genesiv
GOLD FUTURES (GOLD1!), H1 Potential for Bearish DropType : Bearish Momentum Resistance : 51158 Pivot: 50742 Support : 50157 Preferred Case: On the H1, price is moving below the ichimoku cloud which supports our bearish bias that price will drop from our pivot at 50742 in line with the swing high resistance and 38.2% fibonacci retracement to the 1st support at 50157 in line with the swing low support. Alternative scenario: Alternatively, price may break through pivot structure and rise to the 1st resistance level at 51158 in line with the overlap resistance, 61.8% fibonacci retracement and 78.6% fibonacci projection . Fundamentals: As the Fed has a 75-basis-point rate hike on the interest rate, we are bullish on Gold.
MCX:GOLD1!Short
by Genesiv
Gold: Heave ho!Gold had finally hauled itself up a bit higher into the orange zone between $1868 and $1919 only to drop back out. However, we expect it to gather all its strength to make it into the orange zone again and subsequently towards the resistance line at $1921, where it should finish wave b in orange. Then, gold should fall below the support at $1830 and continue the descent into the turquoise zone between $1660 and $1525, where it should complete wave C in turquoise and with it the overarching downwards movement. There is a 40% chance that gold could be strong enough to rise even higher into the red zone between $1919 and $2003 before turning downwards and heading for the turquoise zone.
COMEX:GC1!
by MarketIntel
1
Gold Futures (GOLD1!), H1 Potential for Bullish momentumType : Bullish Momentum Resistance : 51788 Pivot: 51240 Support : 51035 Preferred Case: On the H1, price has broken through the descending channel and is moving along the ascending trendline. Also, price is moving above the ichimoku indicator which supports our bullish bias that price will rise from our pivot at 51240 in line with the overlap resistance, 38.2% fibonacci retracement and 61.8% fibonacci projection to the 1st resistance at 51788 in line with swing high resistance and 100% fibonacci projection. Alternative scenario: Alternatively, price may break through pivot structure and drop to the 1st support at 51035 where the overlap support and 78.6% fibonnaci projection. Fundamentals: The inflation hedge benefitted from the highest inflation seen in the US in 40 years. The rate of increase in the fed funds rate would be key to further gains in the precious metal. A hike lower than 75bps would allow gold to build on recent gains. This gives us a mixed to weak bullish view on gold.
MCX:GOLD1!Long
by Genesiv
GOLD Futures Positional Long Idea#GOLD Futures Postional Long Idea Disclaimer: These levels are purely based on Price action/demand and supply zones & and consumed only for educational purpose & should not be taken as buy/sell recommendation. I will not be responsible for any loss/profit incurred if anyone takes trades based on my views. Please consult your Financial Advisor before making any trading decision. Leave a comment that is helpful or encouraging. Let's master the markets together.
MCX:GOLD1!Long
by sbkurandwad77
Gold Futures (GOLD1!), H1 Potential for Bearish momentumType : Bearish Momentum Resistance : 51144 Pivot: 51040 Support : 50683 Preferred Case: On the H1, price is moving within the descending channel, MACD is showing bearish momentum and price is moving below the ichimoku cloud which supports our bearish bias that price will drop from our pivot at 51040 in line with the overlap resistance to the 1st support at 50683 where the swing low support, 100% fibonnaci projection and 61.8% fibonacci projection. Alternative scenario: Alternatively, price may break through pivot structure and rise to the 1st resistance level at 51144 in line with the overlap resistance and 61.8% fibonacci retracement. Fundamentals: The outcome of the US CPI would confirm if inflation remains on a rising trend or if it is topping out which gives us a mixed bias on gold.
MCX:GOLD1!Short
by Genesiv
Gold Futures (GOLD1!), H1 Potential for Bullish bounceType : Bullish Rise Resistance : 51144 Pivot: 50723 Support : 50416 Preferred Case: On the H1, stochastic indicator is bouncing off resistance level which supports our bullish bias that price will rise from the pivot at 50723 where the swing low support and 78.6% fibonacci retracement are to the 1st resistance at 51144 in line with the pullback resistance and 61.8% fibonacci retracement. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support at 50416 in line with the overlap support and 50% fibonacci retracement . Fundamentals: Due to increasing inflation rates in the US,UK and other developed economies, we have a bullish view on the precious metal.
MCX:GOLD1!Long
by Genesiv
Gold Futures (GOLD1!), H1 Potential for Bullish ContinuationType : Bullish Rise Resistance : 51386 Pivot: 50900 Support : 50578 Preferred Case: On the H1, price is moving above the ichimoku cloud which supports our bullish bias that price will rise from the pivot at 50900 where the overlap support, 50% fibonacci retracement and 61.8% fibonacci projection are to the 1st resistance at 51386 in line with the swing high resistance. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support at 50578 in line with the overlap support and 78.6% fibonacci retracement. Fundamentals: Due to increasing inflation rates in the US,UK and other developed economies, we have a bullish view on the precious metal.
MCX:GOLD1!Long
by Genesiv
Gold Futures (GOLD1!), H1 Potential for Bullish ContinuationType : Bullish Rise Resistance : 51545 Pivot: 51303 Support : 51141 Preferred Case: Price is moving within the ascending trend channel and is moving above the ichimoku cloud which supports our bullish bias that price will rise from the pivot at 51303 where the pullback support is to the 1st resistance at 51545 in line with the swing high resistance, 78.6% fibonacci projection and 161.8% fibonacci extension. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support at 51141 in line with the overlap support. Fundamentals: Due to increasing inflation rates in the US,UK and other developed economies, we have a bullish view on the precious metal.
MCX:GOLD1!Long
by Genesiv
Gold Futures (GOLD1!), H1 Potential for Bearish ContinuationType : Bearish Momentum Resistance : 50877 Pivot: 50577 Support : 50290 Preferred Case: On the H4, price is moving below the ichimoku cloud and breaking from the ascending channel which supports bearish bias that price will drop from our pivot at 50577 in line with the overlap resistance to the 1st support at 50290 in line with the pullback support, 161.8% fibonacci extension and 61.8% fibonacci retracement. Alternative scenario: Alternatively, price may break through pivot structure and rise to the 1st resistance level at 50877 in line with the overlap resistance . Fundamentals: Due to increasing inflation rates in the US,UK and other developed economies, we have a bullish view on the precious metal.
MCX:GOLD1!Short
by Genesiv
GC Gold WARNING: next 3 very impt supportsGold update from the previous post where I said gold may go to 1800 or even 1760. As predicted, the bounce from 1800 was short-lived & GOLD is barely holding 1833, the 0.618 Fib level. This time it falls, 1800 may not hold anymore. These are the 3 next impt supports: 1) 1760 is an impt pivot & also near the trendline from 2018. Breaking below the 1800 to 1760 zone may void the CUP & HANDLE move. 2) 1677 is the neck of the big M-pattern started since 2019 & is also the base of 2 bottom consolidation boxes in 2020 & 2021 which makes it a very strong support. This is a 20% drop from 2078 ATH. 3) 1450 is the MAX PAIN support at a 2006 TL. This may also be the Fib level where the big M-pattern finally completes. This is a 30% drop. Watch the DXY dollar index very carefully as this scenario will play out only if DXY continues to go up. DXY seems to be bouncing from 100 to make new highs in line with the FED tightenning raising rates & the upcoming QE. Not trading advice
COMEX:GC1!Short
by xtremerider8
Gold (GOLD1!), H1 Potential for Bearish bounceType : Bearish Continuation Resistance : 51102 Pivot: 50844 Support : 50563 Preferred Case: With price breaking the ascending channel and MACD having a bearish momentum, we expect prices to break through the ichimoku cloud. Also, we have a bearish bias that price will drop to our 1st support at 50563 in line with the 161.8% fibonacci extension, 38.2% fibonacci retracement and horizontal overlap support from our pivot at 50844 in line with the horizontal pullback resistance. Alternative scenario: Alternatively, price may break pivot structure and head for 1st resistance at 51102 in line with the pullback resistance. Fundamentals: Due to increasing inflation rates in the US,UK and other developed economies, we have a bullish view on the precious metal.
MCX:GOLD1!Short
by Genesiv
XAUUSD Potential for bullish momentum | 24th May 2022With prices moving above the ichimoku cloud, we have a bullish bias that price will rise from our buy entry at 1853.94 where the horizontal overlap support is to our take profit at 1884.14 in line with the horizontal swing high resistance and 78.6% Fibonacci retracement. Alternatively, price may break entry structure and head for stop loss at 1832.57 where the horizontal overlap support, 38.2% fibonacci retracement and 61.8% fibonacci projection. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
FOREXCOM:XAUUSDLong
by Rockqet
Gold (GOLD1!), H1 Potential for Bullish bounceType : Bullish Bounce Resistance : 51260 Pivot: 50862 Support : 50579 Preferred Case: With prices moving above our ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance at 51260 in line with the 127.2% Fibonacci extension and overlap resistance from our pivot of 50862 in line with the 23.6% Fibonacci retracement and horizontal overlap support. Alternative scenario: Alternatively, price may break pivot structure and head for 1st support at 50579 in line with the horizontal overlap support and 38.2% fibonacci retracement . Fundamentals: Due to increasing inflation rates in both the US and UK, we have a bullish view on the precious metal.
MCX:GOLD1!Long
by Genesiv
Gold (GOLD1!), H1 Potential for Bullish bounceType : Bullish Bounce Resistance : 51260 Pivot: 50862 Support : 50579 Preferred Case: With prices moving above our ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance at 51260 in line with the 127.2% Fibonacci extension and overlap resistance from our pivot of 50862 in line with the 23.6% Fibonacci retracement and horizontal overlap support. Alternative scenario: Alternatively, price may break pivot structure and head for 1st support at 50579 in line with the horizontal overlap support and 38.2% fibonacci retracement. Fundamentals: Due to increasing inflation rates in both the US and UK, we have a bullish view on the precious metal.
MCX:GOLD1!Long
by Genesiv
GOLD got my May11 target of 1800 & bounced; 1760 destination?Update of my 11May post that gold will fall to 1800 if 1833 does not hold. It bounced from 1800 but this may not last if DXY dollar index continues higher. GC1 gold futures is doing a M-pattern & may retrace to 0.786 FIBO back down to 1760. However, if DXY dollar tops out & retrace to 100 or 97, gold will be able to hold 1800 & rally back to 1920/1900 neck of M-pattern or even 2000. Worst case scenario is 1670 although very unlikely considering a lot of funds will hedge against inflation. Gold must hold the 1800 to 1833 zone to stay above a BIG WEDGE from 2020 & to remain bullish. Otherwise the odds increases that the ultimate bottom of wedge at 1670 may be retested. Not trading advice
COMEX:GC1!Long
by xtremerider8