Gold Price SoarsThe US dollar stopped rising, coupled with the escalating Russia-Ukraine conflict, driving gold prices up by nearly $50, ending the previous downtrend. At the close of trading on November 18, gold had gained $48, reaching $2,611 per ounce. This recovery helped gold break its six-session losing streak from the previous week, when prices had dropped to a two-month low.
Looking at the technical chart, the EMA line has reversed, signaling that the uptrend has returned. Additionally, gold is moving within an upward price channel, indicating that the current bullish momentum is continuing. Other technical indicators, such as the RSI (Relative Strength Index), are in the overbought zone, further supporting the bullish outlook for gold. If gold can maintain levels above $2,600 per ounce, it is likely to test resistance levels around $2,630 - $2,650 per ounce.
On the other hand, if gold fails to hold above $2,600 per ounce, the next support level could be around $2,570 per ounce, where short-term moving averages converge.
The performance of the US dollar and geopolitical factors will continue to be key influences on the gold price trend in the near future.
Metals
GOLD | Fresh heights never hurt nobodyAlright boys and girls, it's all public now. I need to recover from my red square. You can see my reasoning and analysis below:
So here's my 5th position:
Oppening: 2610
Take profit: 2620
Stop Loss: 2550
For some reason I still think that Gold has no reason to go up. I think that billionaires are manipulating the market to make a fake trend.
The bull may be fake!
But I still think that there is a high probability that XAU will touch 2620, my stop loss is super far away. It'll be very interesting to see what will happen.
Don't use all your bank!
XAUUSD, 30-MINUTES TIMEFRAME CHARTXAUUSD, 30-minute timeframe chart
XAUUSD break the resistance level of 2,612.00
General outlook
XAUUSD has been under buying pressure within the last day. The pair moved up to the resistance level of 2,612.00.
Possible scenario
The best way to use this opportunity is to place a buy limit order at 2,612.
Set your stop loss at 2,605. below the previous low ($7.00 loss for 0.01 lot) and take profit at 2,635. ($23.00 profit for 0.01 lot).
The risk-reward ratio for this order is 1:1.
Gold price suddenly reversed and increasedOANDA:XAUUSD surged after the US dollar paused its rally and Russia-Ukraine tensions escalated. Spot gold ended the trading session on November 18 up $48 to $2,611/ounce, ending a six-session losing streak and escaping a two-month low.
Sellers held back as US President Joe Biden authorized Ukraine to use long-range weapons supplied by the United States to strike deep into Russian territory. This was clearly a major driver of strong safe-haven demand, pushing gold prices higher.
This move not only marked a turning point in the gold market but also signaled that investors were looking for opportunities amid increasingly tense geopolitical conditions.
However, in the medium and long term, we still think sellers still have the upper hand technically!
XAUUSD H4 | Bearish reversal Based on the H4 chart analysis, we can see that the price is rising toward our sell entry at 2648.79, which is a pullback resistance and a 61.8% Fibonacci retracement.
Our take profit will be at 2586.23, a pullback support level.
The stop loss will be at2709, an overlap resistance level.
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Gold's Resilience: A Bounce Back from Key Support Demand ZoneGold has rallied off a key demand area of support as the US Dollar peaked and then retraced. This precious metal is currently navigating challenges stemming from forecasts regarding US interest rates and ongoing economic policies tied to the Trump administration.
Fed Chair Jerome Powell has indicated that the US economy is in "remarkably good" shape, which has bolstered the Dollar while putting downward pressure on Gold. However, analysis of the Commitment of Traders (COT) report reveals that smart money remains positioned on the long side, suggesting that there is still potential for upward movement in Gold.
Despite its recent performance, Gold appears to be in a relatively oversold position, supported by favorable seasonal trends that could lead to a bullish outlook. The current demand area presents a crucial opportunity for Gold to retrace and gain momentum once again, making it an interesting point of observation for traders looking to capitalize on potential price recovery.
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Copper Bounce? $HG1! at Key Demand Zone!Back at a strong demand level on COMEX:HG1! (Copper futures). The key invalidation is a 4-hour close below 3.92, so I'll be watching closely to manually close.
I'm looking for a potential bounce from here, and if the weekly candle closes bullish, I may consider this a reversal setup. The confluence between the weekly support and the current demand zone gives me confidence to take the trade.
If the move fails, my next level to watch is 3.7 for another potential entry.
Let’s see if COMEX:HG1! behaves this time.
XAUUSD Buying Opportunity above 2593#XAUUSD
Buying opportunity
Execute trade above 2593 - 2589
Recommended to open buy order above this zone. If price broken this area gold will continue bearish trend.
If unfortunately price broken open with sell order recommend target is 2560 to expect fall 2500 level exactly descending channel support.
Gold technical move Gold analysis involves examining the various factors that influence the price and demand for gold in global markets. This includes evaluating economic indicators such as inflation, interest rates, and currency fluctuations, as well as geopolitical events and market sentiment. Analysts also consider supply and demand dynamics, including mining production and investment trends. Gold analysis is critical for investors and traders looking to understand price movements and make informed decisions about buying, selling, or holding gold as part of their portfolio.
GOLD ROUTE MAP UPDATEHey Everyone,
A Piptastic start to the week with our 1H chart hitting targets just like we analysed.
We started the day with our Bullish target hit at 2574. This followed with ema5 cross and lock above this weighted Goldturn, opening 2599, which was also hit!!!!
We are now seeing 2599 cross and locked, leaving 2622 open. As long as we don't see a lock back down below 2599, 2622 will remain open.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up and knowing we have gaps above, allows us to safely buy from dips.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2574 - DONE
EMA5 CROSS AND LOCK ABOVE 2574 WILL OPEN THE FOLLOWING BULLISH TARGET
2599 - DONE
EMA5 CROSS AND LOCK ABOVE 2599 WILL OPEN THE FOLLOWING BULLISH TARGET
2622
BEARISH TARGETS
2551
EMA5 CROSS AND LOCK BELOW 2551 WILL OPEN THE FOLLOWING BEARISH TARGET
2525
EMA5 CROSS AND LOCK BELOW 2525 WILL OPEN THE SWING RANGE
2638
SWING RANGE
2506 - 2484
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
Tudor Gold Mining Chart looks very interesting poised to do well from a Bull market Golden Triangle play. Any North American jurisdiction mining company will benefit as we see tensions rise globally. Speculation that we will see an increase in currency devaluation to continue and possibly accelerate.
TSXV:TUD OTC:TDRRF
THE KOG REPORT - Election update:Continuing with this chart we've managed to navigate the move from the all time high into the lower region which we had marked with a circle for Camelot as a potential RIP zone. There was a slight stretch on the move however, we did get the bounce giving us a fantastic long trade.
On this particular chart we would like to see where price closes on the weekly to make a further assessment. For now, if you followed, it moved well.
As always, trade safe.
KOG
THE KOG REPORTTHE KOG REPORT
In last week’s KOG Report we wanted higher pricing to short again into the lower targets 2665, 2650 and 2620. Unfortunately, we didn’t get the higher level we wanted, so instead, followed Excalibur and the red boxes not only completing the bias targets in one move, but also then completing numerous bearish targets on the week.
The bias was bearish below, the price, once settled moved well and allowed us to navigate the short trades and the bounce for the longs. Another good week in Camelot, completing a staggering 25 targets, 8 of those on gold alone.
So, what can we expect in the week ahead?
For this week we’re only looking for one move, and that’s for the price to attempt the retracement that is needed and stretching out traders. For that reason, we have the lower level of 2550-55 which if attacked and held during the early session may give traders the opportunity to long back up into the 2565-70 region and above that 2600-05 region initially. That’s the trade that we’re looking for early part of the week but please note, breaking below that 2550 level will give us a better opportunity from the 2530-35 region which is also shown on the chart.
Nice and simple this week, we’ll update as we usually do. Potential for more ranging on Monday so maybe best to let Monday play and then look for a decent set up for Tuesday onwards.
KOG’s bias for the week:
Bearish below 2575 with targets below 2555 and below that 2550
Bullish on break of 2575 with targets above 2595 and above that 2605
RED BOXES:
Break above 2575 for 2585, 2587, 2595 and 2610 in extension
Break below 2560 for 2555, 2551, 2541 and 2535 in extension
Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated.
As always, trade safe.
KOG
Cruel sell-off week, GOLD down more than 4%OANDA:XAUUSD This week suffered an extremely brutal sell-off, falling more than 4%, the largest decline since September 2023.
Trump is the biggest overall reason for OANDA:XAUUSD plummet
Gold had a pretty good month in October, rising along with the US Dollar which was supported by expectations of a possible victory for Donald Trump.
Gold prices had previously even extended their gains despite a clear recovery in US Treasury yields across all maturities.
However, things have changed significantly since Trump was elected US president
The main concerns surround the possibility that the Trump administration will again use tariff measures. These measures will likely spur inflation again and could eventually prompt the Fed to reverse its ongoing easing cycle.
The main factor behind gold's surge earlier this year was ongoing geopolitical tensions, especially the escalating conflict between Israel and Hamas and the protracted war in Ukraine.
Whenever there is new news about the worsening conflict situation, investors flock to safe-haven assets such as gold. However, recently since Trump's victory, the geopolitical situation and conflicts are showing positive signs, which will create the basis for further gold selling pressure.
The Fed is also creating pressure on OANDA:XAUUSD
Slightly hawkish comments from Federal Reserve Chairman Jerome Powell last week boosted the dollar and dampened interest in gold.
Powell said Thursday that the central bank is in no hurry to reduce borrowing costs while the economy continues to be strong, the labor market is solid and inflation is above its 2% target.
After Powell's speech, investors lowered the likelihood of the Fed cutting interest rates by 25 basis points at its December meeting, from 72% to 61.9%, according to CME Group's FedWatch data.
In addition to Powell's comments, Boston Fed President Susan Collins said the Fed is in no hurry to cut interest rates. Finally, Chicago Fed President Austan Goolsbee left open the possibility of a December Fed meeting, adding, "The debate over neutral interest rates could slow the pace of rate cuts."
However, at the end of last Friday's trading session, despite positive US data, the Dollar was still under pressure as market participants took profits before the weekend. That limited gold's decline after falling to a 2-month low of $2,536/oz.
Highlights this week
This week, gold traders will pay attention to data from the Federal Reserve, unemployment claims and the release of the S&P Purchasing Managers' Index (PMI).
Overall, this week will be a week with quite a few notable data and events, other than unexpected events such as "Trump is sick and Trump threatens to fire Jerome Powell".
Analysis of technical prospects for OANDA:XAUUSD
Although gold recovered very slightly this past weekend, it still ended the week with 6 consecutive days of decline.
Gold's recovery keeps it above the 1% Fibonacci level at $2,548 but there is still plenty of room ahead as the most recent pressures from the lower edge of the price channel and horizontal resistance at $2,588 join the Fibonacci level. A 0.786% retracement will still prevent the recovery of gold prices.
On the other hand, it still has a technical trend that is completely tilted towards a bearish outlook with the price channel being the main trend in the short term. In addition, the Relative Strength Index is still pointing down without reaching the oversold area, showing that there is still room for price decline ahead.
Looking ahead, as long as gold remains within the price channel and below the $2,600 raw price, price increases should only be considered short-term technical corrections without affecting the current primary trend to the downside.
The downtrend in gold prices will be noticed again by the positions listed below.
Support: 2,548 – 2,536 – 2,528USD
Resistance: 2,600USD
SELL XAUUSD PRICE 2606 - 2604⚡️
↠↠ Stoploss 2610
→Take Profit 1 2599
↨
→Take Profit 2 2594
BUY XAUUSD PRICE 2519 - 2521⚡️
↠↠ Stoploss 2515
→Take Profit 1 2526
↨
→Take Profit 2 2531
SPY/QQQ Plan Your Trade Video for 11-18: No INTERNET IssueMorning guys.
Something odd happened today after I created a great 45-minute morning video.
TradingView reported an Internet Issue even though my internet was working perfectly???
So, I DOWNLOADED the video so I have a record of it and posted it up elsewhere.
I don't know what to say - except check my profile on TradingView.
I was not going to try to replicate my 45 minute recording after experiencing this issue.
Get Some.
XAUUSD Potential Long OpportunityOn the 30-minute XAU/USD (Gold) chart, I’ve identified a potential long setup based on Fibonacci levels and recent price action.
🔹 Entry: Enter around the current level at $2,556, where we’re seeing signs of support.
🔹 Stop Loss: Place below the recent low near the 1.0 Fibonacci extension level at $2,536. This area has previously acted as support, and a break below could signal a shift in trend.
🔹 Take Profit: Target the 0.25 Fibonacci retracement level at $2,577 or, for a higher target, consider the 0.5 retracement level around $2,597-$2,618. These levels have previously acted as resistance zones, making them logical profit points for a long position.
Ensure this trade aligns with your risk tolerance. With a stop loss set close to support, this setup offers a solid risk-to-reward ratio if the uptrend continues.
Good luck!