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GOLD's seasonal cycle. Don't miss the strongest sell signal!Gold has entered its 5 year Resistance Zone (1350 - 1365). This alone is an immediate sell signal. What's even more interesting though (and a stronger reason to go short on Gold) is the cycle that the metal tends to seasonally follow every 1.5 years. The chart speaks by itself. I have distinguished two time periods: 2017/18 and 2019/20. Every time the price enters the 1350 - 1365 monthly Resistance Zone, longs take their profits and a balance between buyers and sellers is observed roughly within 1300 - 1365. I call this the sell accumulation phase where the market is undecided but sellers eventually prevail under the heavy pressure of the 5 year Resistance level. Note that there is always a catalyst (normally geopolitical tensions) that drives the price towards that Resistance Zone (N. Korea, stock market crash, Oil crash, trade war and more recently the U.S. - Iran tensions) but it eventually fails. I take this as a strong long term sell signal. The target can differ but I am counting (and targeting) at at least 1220 - 1240, with a strong probability for 1200 also.
FX:XAUUSDShort
by TradingShot
8
GOLD (XAU/USD) 4Hour ChartGold prices just recently bounced off the ascending channel resistance and i am expecting prices to continue dropping towards the 50% retracement level of 1223.62. Possibly, prices may continue going further down until they test the lower ascending channel resistance. Though i have already entered a short position a bit late, it is better to check price action to see whether there could be continued downward momentum or prices are lurking toward higher prices
FOREXCOM:XAUUSDShort
by munyaelliott
XAUUSD: Consolidating before the new bearish leg. Short.XAUUSD has stayed near its 1D Resistance levels during the previous week as it continues to work as a safe haven since the global stock markets haven't yet been stabilized. The USDJPY, USDCNY continue to trade high as well as the Dollar Index (although it was rejected again near the 96.15 4H Resistance), so from a technical standpoint, Gold remains a short opportunity and fundamentally on a much higher price than its fair technical value. 1W remains neutral (RSI = 46.221) as it trades near the 0.382 Fibonacci retracement level = 1,238.50 but still on a long term bearish 1M Channel (MACD = -1.920, Highs/Lows = -24.3378, B/BP = -85.8020). Despite being near the 1,238.50 1W 0.382 Fib, Gold is also near the 1,236 December 12th, 2017 Low, and that is why the current 1D Resistance level is that strong. We are still aiming at 1,203.20, 1,194.95.
FX:XAUUSDShort
by InvestingScope
2
XAUUSD: Broke the downtrend but on fundamental factors.The long term bearish trend on 1W broke last week to neutral grounds (RSI = 47.647, MACD = -20.230, Highs/Lows = 12.0065) as the global stock markets pulled back and capital abandoned riskier assets towards Gold's safety. Technically 1D is a Channel Up (RSI = 65.112, MACD = 5.900, Highs/Lows = 22.9186, B/BP = 34.8019) but we can't assume yet that this uptrend is technically sustainable until we see both stocks and XAUUSD rising at the same time. At the moment the Dollar Index is on the 50% Fibonacci on 4H indicating that it is still on an uptrend, so most likely Gold's legitimate value is much lower. A middle solution is treating the current price as a Higher Low on the 1D Channel Up and a 0.382 Fibonacci retracement on 1W (as seen on the chart) and aim towards 1,203.20, 1,194.95.
FX:XAUUSD
by InvestingScope
1
1W support tested. Significant upside potential. Long.XAUUSD approached the December 2017 bottom levels at 1,236.50 and was strongly rejected higher on a very strong 4H Three Outside Up bullish sequence (STOCHRSI = 94.347, Highs/Lows =3.8071, BBP = 14.1180). With DX still struggling to break the 95.00 - 95.25 Resistance zone and after multiple failed attempts, and the bond markets rising amid a world-wide stock selling due to new trade escalations, we believe that Gold is both technically and fundamentally geared to start reversing into a new bullish medium term leg, maybe even as aggressive as the pace with which it declined (blue curve). Thursday's ADP Nonfarm Employment Change and Friday's Nonfarm Payrolls/ Unemployment Rate are the catalysts that may lead us to the first and second targets (1,267.00 and 1,274.50). Final TP = 1,284.12.
FX:XAUUSDLong
by InvestingScope
1
All targets hit. Now reversing on 1W. Long term buy.XAUUSD completed the 1D correction, hitting all our downside targets, and the Channel Down (Highs/Lows = -11.8500, B/BP = -17.6660) reached the expected 1W support. As discussed on the previous analysis, 1W is on a Channel Up and 1,260 - 1,265 was the extended Higher Low support since the December 2016 bottom. We now expect 1D to reverse for a long term bullish direction towards 1,370. First TP = 1,274.50, second 1,284.12.
FX:XAUUSDLong
by InvestingScope
2
FALLING CHANNEL GOLD SPOT 15A falling channel on gold spot 15 is emerging. It is my strong believe that we will see levels of 1274 reached. I have entered a short position at this point in time with a take home profit of 1274. Check it out see if it interests you. Remember good risk management is key. Keep your eyes on the stars and your feet on the ground. You can reach for your dreams without having to fall. NB: iMoneyCorp ideas are merely presentations of his analysis of the markets and not presentation of any actual position of the market at the present time. Copy them at your volition. Your capital is at risk.
FX:XAUUSD
by Capital75official
Gold - Bounce towards $1,275 is nextOnce again I am looking at the weekly chart for gold which is oversold and close to very strong support around $1,190 - $1,210. Of course the price action during the last 18 weeks has been disappointing but there is still a good chance that this is the typical deep retracement after the first up-leg in this new bull-market. In the next step gold needs to break the five year downtrend-line currently sitting around $1,325. But below $1,170 - $1,180 the "just another bear-market rally" thesis is confirmed.. Remember my head&shoulder backup plan from a months ago... In any case I expect a bounce to start from $1,210 next week targeting at least $1,275! Buy gold!
FX:XAUUSDLong
by MidasTouchConsulting
GOLD SHORTThe reason why we feel GOLD may Rise. * On weekly basis it has just started moving DOWN * To SINL and come near 1228 levels * Stoch RSI (3,3,14,Close) is Sinking. * RSI (14,CLOSE) is Sinking. * CCI (20,CLOSE) is Sinking. Keeping all the above indicators in view along with the chart pattern we expect it to Rise. Our SELL call shall be from SELL BELOW :1245.09, SL:1249.60, Tgt 01:1233.82, Tgt.02: 1228.83, Tgt 03:1213.46 . The view expressed here is on weekly basis. [b ]Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing.
FX:XAUUSDShort
by ajithchand-bhandaari