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Goldfutures

Gold - Quiet before the storm?The price action of gold has been choppy for the past few weeks, and we are growing increasingly worried about its performance in the face of increasing interest rates later this month. Because of that, we remain bearish on XAUUSD in the short term. Further, we think if the stock market continues to manifest weakness, it will negatively affect gold. Indeed, we believe that market participants will sell their gold once again to cover losses elsewhere (just like on previous occasions). Due to that, we think gold might drift toward 1600 USD over time. Despite that, however, we are very bullish in the long term and believe that the selloff will present an excellent opportunity to add more gold to investors' portfolios. Illustration 1.01 The daily chart of XAUUSD shows two moving averages: 20-day SMA and 50-day SMA. Two yellow arrows indicate bearish and bullish crossovers between these two SMAs. The third yellow arrow indicates the natural retracement of the price toward its SMAs. Therefore, we will pay close attention to the following price action; the breakout above SMAs will be bullish while the position below them is bearish. Technical analysis - daily time frame RSI and Stochastic are slightly bullish. MACD is relatively neutral; however, it will be bullish if it manages to break above 0 points. DM+ and DM- are bearish. Overall, the daily time frame is neutral. Illustration 1.02 The weekly chart of XAUUSD shows two moving averages: 20-week SMA and 50-week SMA. They reflect the presence of the downtrend. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish. Please feel free to express your 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 be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
OANDA:XAUUSD
by Tradersweekly
31
Gold - The weak stock market threatens gold's prosperityOver the past several months, we repeated our concern about gold drifting lower with the stock market. Today, we continue to stick to this narrative and remain bearish on XAUUSD in the short term. However, we are also starting to grow increasingly bearish in the medium-term while staying resonantly bullish in the long-term. Indeed, we think the looming weakness in gold (and also the current one) will provide another excellent opportunity for investors to add gold to their portfolios. Because of that, we will pay close attention to the FED meeting between the 20th and 21st of September 2022. The central bank is expected to raise interest rates between 50 bps to 75 bps, which will inherently strengthen the U.S. dollar and weaken all other assets weighted in it. The rate hike will also pressure the U.S. economy, leading to risk aversion and a sell-off of assets. As on previous such occasions, we think this time will be no different, and gold will experience weakness as investors will cover losses elsewhere. As for the technical factors, the daily time frame improved slightly over the past few days, with volume declining. Although weekly and monthly time frames remain bearish. Due to that, we are very cautious and looking for 1 600 USD in the case of a stock market sell-off. Illustration 1.01 Illustration 1.01 shows the daily chart of XAUUSD and two simple moving averages. Yellow arrows indicate several technical developments. Technical analysis - daily time frame RSI is slightly bullish. MACD is flattening, and Stochastic points to the upside. DM+ and DM- stay bearish. Volume has declined after the period of selling, which is bullish. Overall, the daily time frame has improved over the past few days and turned slightly bullish. Illustration 1.02 Illustration 1.02 shows a strong positive correlation between the Nasdaq 100 continuous futures and gold; however, a little delay between the two can be observed. Gold is down approximately 19% from its recent peak, while Nasdaq futures are down approximately 27%. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish. Illustration 1.03 The picture above shows the current setup on XAUUSD. Please feel free to express your 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 be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
OANDA:XAUUSDShort
by Tradersweekly
23
Gold: Dolphin 🐬Like a playful dolphin, gold has jumped above the resistance at $1770, only to dive right back into the blue zone between $1751 and $1709. Now it has to decide whether it wants to do some more tricks in the water or has already completed wave (ii) in blue. As soon as it has finished the counter movement, though, gold should climb out of the blue zone and above the resistance at $1770, thus confirming the upwards movement. However, there is a 38% chance that gold could leave the blue zone on the lower side and drop below the support at $1709. In that case, it should continue the descent below the next mark at $1678 and into the green zone between $1661 and $1585 first, before rising again.
COMEX:GC1!
by MarketIntel
1
Gold Futures - potential setupsCOMEX:GC1! Hello everyone! 🛎 Let check the trading idea for Gold Futures 🤗 Not making anything difficult everything is pretty straightforward. 👉 1. Price goes ABOVE the selected range on the picture. Long positions to activate. 🟢 👉 2. Price goes BELOW the selected range. below. Short positions to activate. 🔴 ---------------------------------------------------------------------------------------------------------------------------- ⚠️ Important Notes: 1. Always follow your trading plan regarding entry, risk management, and trade management. ❗️❗️❗️ 2. Timeframes: up to H4 ---------------------------------------------------------------------------------------------------------------------------- 😉 If you like the idea there was a like 🚀 and sign up so you can continue receiving great ideas like this one and also for us to make pattern the idea! 🤝 💪 Profitable lock for everyone! 🙏
COMEX:GC1!
by Solidity_best_options
1
Gold Futures at critical resistance.Gold futures is at INR 52352. Critical resistance for Gold is at INR 52585. Crossing INR 52585 looks little difficult and Gold will have to struggle a bit. Once the level of INR 52585 is crossed and the futures close above it the target for Gold will be INR 53637. Above INR 53637 the trench between INR 55005 to INR 55806 will be the one of the most difficult trench of a resistance to cross. The most important support for Gold is at the trench between INR 51255 and 50180. Long term target for Gold can be at INR 59438 time frame 12 to 16 months.
MCX:GOLD1!Long
by Happy_Candles_Investment
Gold analysis: Is the tide rising now? Gold has risen 5.5% from its July 21 low of $1,680 per troy ounce, as market sentiment suddenly shifted to safe-haven assets in the aftermath of a slew of recession-risk events and rising geopolitical tensions between the United States and China over Taiwan. According to the latest Commodity Futures Trading Commission (CFTC) weekly Commitments of Traders (COT) report, gold net speculative positions increased by 34% to 124.3K contracts on the week ending August 2, up from 92.7K the previous week. This marks the largest weekly increase in gold net speculative positions this year. Speculators' positioning on gold has consistently declined from a peak of 274.4K in the first week of March to 92.7K at the end of July, the lowest level since May 2019. Despite this uptick, gold's positioning still remains quite weak, implying that a shift in sentiment toward gold could result in significant upside price pressures. Looking at technical indicators, the 14-day RSI recently broke above the 50 mark, also rising from severely oversold levels, indicating that bulls have gained the upper hand in the short-term momentum. Last Friday, however, the release of the US labour market report weakened gold's price momentum slightly, as both non-farm payroll (528,000 vs. 250,000) and hourly wages (5.2% yoy vs. 4.9% yoy) soared far above expectations, causing a repricing of Federal Reserve rate expectation to the upside. However, unlike past Fed rate repricing episodes in May and July, this one did not result in a massive gold's sell-off. Consequently, this could be an early sign that the negative relationship between gold and the Fed's expected interest rates is beginning to dwindle. If this narrative gained further traction, gold would resume its traditional function as a hedge against inflation. Another print above expectations (8.7 percent year-over-year) would certainly prompt Fed rate responses, but also raise further doubts that this inflation can be tamed through rate hikes, potentially weighing on the dollar and favouring gold.
TVC:GOLD
by Capitalcom
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