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Preciousmetals

Gold Break Down : Hitting 7 Month Low. Crucial Support zoneGOLD(US$/Oz) stands at a 7 month low ever since March 2023. The precious metals commodity is standing at a crucial support levels of the channel ever since April 2023. Although the charts shows momentum bottoming but the supply constraints and Macro factors may pull it down to levels of 1833,1806 post which we can see it pulling back to channel Trendlines again. The worst case scenario is still open for 1784 but for now that looks a less probabilistic from technical point of view.
TVC:GOLDShort
by chandakpulkit
Gold prices plummeted before the recovery of the USDThe current price of gold in the international market is hovering around $1,897.9 per ounce, which is a decrease of $3 per ounce compared to this morning. The recent monetary policy meeting of the Federal Reserve (Fed) indicates that their stance will continue to be a catalyst for pushing bond yields and the US dollar higher, putting significant pressure on precious metals and acting as the main factor influencing gold prices. Analyzing the 4-hour chart, Gold has declined without finding support at the $1900 level. It would not be surprising if gold continues to test lower levels below $1888 as it is a strong support level that suggests potential price recovery from this point.
by AlselvSignals
GDXJ (+ Gold) "Bear Trap" LongGiven USD strength and the sustained pressure of ever-increasing US interest rates, gold has been taking it on the chin. However, we’re getting into buy levels/demand where it may be poised for a near-term recovery. Keep tabs on gold (spot, futures, GLD), but if you see signs of accumulation/trend reversal (use small timeframe charts), consider climbing aboard. FYI, gold futures (GC) have a yet-to-be-filled gap @ 1872.70, so we may drift lower in the immediate-term as the precious metal seeks that level. In the Jr. Miners space, we’re eyeing the 30.57-31.85 demand zone, which formed in November of '22. Protective stops should be placed below the lower bound of the buy zone. Targeting is a bit challenging, but GC futures should be able to rally to ~1910, if not higher. As everything is uncertain in trading, use your judgement. We always take mechanical profits en route to opposing zones, which are used for our target setting, and would highly recommend doing the same given the stress currently being reflected across markets. Just a thought/idea – take it . This is a very aggressive trade given recent price action - be careful! JHart @ LionHart Trading
AMEX:GDXJLong
by LionHart_Trading
PLATINUM FUTURES, Massive BEARISH TRIANGLE-Formation, BREAKOUT!Hello There! Welcome to my new analysis about PLATINUM FUTURES on the global timeframe perspective. The precious metals market is moving into a decisive momentum within the recent times as developments within the financial markets point to a continuation of exceptionally high interest rates within vast majorities of economies and a continuation of hawkish interest rate approaches. An market with continued higher interest rates is pointing to an main indication of a more bearish determination for the precious metals market. If there is no change in the hawkish FED policies and a turning point into more dovish policies decreasing interest rates this is likely to setup the continuation of a bearish indication for precious metal derivatives such as PLATINUM FUTURES. This in combination with a strong DXY, U.S. Dollar Currency Index is increasing opportunity costs of holding precious metal derivatives such as PLATINUM FUTURES, especially within the currencies baskets this is likely to decrease long open interst and increase open interest in short positions to hedge against a depreciating fiat currency pointing to a bearish precious metal scenario. From a technical perspective the signs are definitely worthwhile to consider here as PLATINUM FUTURES form this gigantic descending-channel-formation in which PLATINUM FUTURES already completed several massive bearish waves to the downside increasing bearish pressure and momentum forming several lower lows and pointing to a higher likelihood possibility of a continuation within the descending-channel-formation. Within this channel PLATINUM FUTURES also form the coherent wave-count with the waves A to C being already completed and now within the formation of the wave D PLATINUM FUTURES are forming this gigantic triangle-formation which is likely to complete within the next times. A breakout below the lower boundary of the triangle-formation will setup the origin of a continuation into the bearish direction and a substantial extension of the wave E within the whole wave-count increasing the bearish momentum till the final targets have been reached. Taking all these factors into the consideration here the final breakout can setup faster than expected and then it will be important on how PLATINUM FUTURES setup the actual bearish momentum to develop within the wave-E of the whole wave-count because when the momentum is that strong reaching out to the initial target-zones marked in blue this can lead to a continuation just below these levels and a invalidation of the descending-channel into the lower directions. If this does not happen and PLATINUM FUTURES show up with the ability to stabilize within the final target-zones from there on the potential for a reversal increases and if this reversal setups, once it has emerged PLATINUM FUTURES also have the potential to show up with a final breakout out of the upper boundary of the descending-channel-formation. Especially with continued hawkish interest rate policy, in combination with the open interest in short-positions increasing exponentially, and the strong DXY putting bearish pressure on commodities as well as precious metals this is pointing to the final bearish acceleration and breakout developments to emerge realizing this whole bearish scenario. In this manner, thank you everybody for watching the analysis, support from your side is greatly appreciated. VP
NYMEX:PL1!
by VincePrince
3
SILVER, Ascending-Wedge COMPLETED, Determinations and Targets!Hello There! Welcome to my new analysis about SILVER on several timeframe perspectives. As I pointed out in my previous ideas SILVER is in a more bearish condition with the bonds market being up as well as the DXY being up. These factors already point to a more bearish global term perspective for SILVER. Now a major consideration is the local term as well as there can be a major turning within the local term also and as I recently detected SILVER now completed a major formation as well as several other signs of an substantial reversal to setup and elevate important dynamics that should not be underestimated. Currently there is a massive volatility move to be considered within the upcoming dynamics. As when looking at my chart, SILVER recently showed up with this determining bearish momentum, this momentum broke out below the lower boundary of the ascending triangle-formation and printed an determining bearish spike towards the downside from where SILVER is now approaching the initial target-zones and is likely to continue with the bearish continuations as there are still several resistances within the area especially determined by the descending-resistance-line. The fact that SILVER now completed the major ascending-wedge-formation and already increased the bearish momentum activated the target-zones at 23.65, 23.25, and 22.85 as they are marked in my chart. Currently the DXY is setting up a major breakout into higher spheres as I mentioned in recent ideas, this means that such a breakout within the DXY is validating the bearish cause for SILVER. Also net short-positions held by institutionals increased further within the recent times which is also supporting a major drop in the price-action. Within the whole dynamics SILVER now continued with the origins of the ABC-wave-count with the wave A already completed as SILVER broke out below the lower boundary, the wave B is likely to pullback off the upper resistance if they are reached otherwise the wave B could also have a contracted amplitude. Once the target have been reached further considerations about the price-action need to be made and therefore we are putting SILVER on the watchlist for the upcoming price-action considerations. On the global term there is still a major formational structure developing which could point to an even larger breakout dynamic and volatility momentum once it has been validated. Thank you for watching my analysis. Support from your side is greatly appreciated. VP
TVC:SILVER
by VincePrince
5
XAUUSD- Precious metals wait for new signals from the FedHello everyone, World gold prices are stable, spot gold decreased by 1.7 USD/ounce to 1,931.7 USD/ounce. Gold futures last traded at $1,953.40 per ounce, down $0.30 from the bright spot. The precious metals market was quiet at the beginning of the week while waiting for information related to the US Federal Reserve's (Fed) monetary policy meeting. The debate will end on September 20 (USA) according to the Fed's decision and the report meeting of Fed Chairman Jerome Powell. Both bulls and bears expressed caution before considering the Fed's monetary policy in the near future. Technical chart on the H4 time frame, we can see that gold has peaked at 1936 and has declined slightly. It is likely that gold will return to 1924 and find a new milestone in the uptrend at 1950.
OANDA:XAUUSDShort
by AlselvSignals
2
Gold's next developmentsHello traders. What do you think about Gold? Currently gold is trading at 1927 USD. After receiving strong support at 1914 USD. Gold prices fell for the third straight day on Thursday. The drop comes as interest rates fall suggesting a significant decline may not be on the horizon at this point. However, in the short term, when gold reached the resistance level and quickly retreated to 1905 USD before any new developments appeared from positive information from the Fed in the near future. And it may return to the original target of the weekly high of 1947 USD/Troy Ounce (September 20).
OANDA:XAUUSD
by AlselvSignals
Gold continues to find a bottom below 1910 USDHello dear traders, what do you think about Gold? Currently, the gold market continues to decline after breaking the upward trend line at $1920 and trading at $1911, a decrease of about $5 compared to this morning's trading session. It can be seen that the recovery of the US dollar is an important factor affecting this precious metal, causing its price to drop. On the 4-hour chart, gold is still searching for a new low price. We still maintain the view that the important support level to watch is $1910 per ounce.
OANDA:XAUUSDLong
by AlselvSignals
SILVER FUTURES, Pullback-Developments, BEARISH Indication!Hello There! Welcome to my new analysis about SILVER FUTURES on several timeframe perspectives. The SILVER FUTURES recently showed up with important pullbacks which moved on to test further remaining levels within the whole structure. From a market perspective the bonds market recently showed massive strength with T-bills emerging to form several higher highs and a continued upside movement. This upside movement is also given within the DXY, U.S.-Dollar Currency Index as the DXY continued to form strong movements to the upside putting pressure on the SILVER FUTURES asset. Within the chart SILVER FUTURES are forming this gigantic bear-flag-formation in which the price action is now testing the lower boundary a next consecutive time, as the boundary has been tested already over four times this increases the possibility for massive bearish pressure to show up once the price action actually formed a breakout below the lower boundary. Within this whole structure as the price action formed several consecutive lower highs and several lower lows a major pullback and continuation with an increase of bearish momentum and bearish pressure to the downside is not uncommon. With these terms in the perspective there are several important analysis factors to consider within the next times. Especially an further increase within the bonds, t-bills and the DXY will support the bearish scenario for Silver and then it will be necessary to determine the actual momentum setting up. Once the SILVER FUTURES completed the major gigantic bear-flag-formation the target-zones will be firstly within the 20.5 area, after that the 18.5 area, and when the price action reaches such a momentum that a reversal in this area is not possible in any case the next important determining target-zone will be within the 15.5 area. We keep an eye on the dynamics. In this manner, thank you everybody for watching the analysis, support from your side is greatly appreciated. VP
COMEX:SI1!
by VincePrince
4
What does the gold price at the beginning of the week promise?The world gold price is trading at 1,924 USD/ounce, down slightly by 1 USD/ounce compared to last week's closing session. Gold price is currently still trying to stay above 1,920 USD. After being surrounded by a lot of pressure, the precious metal price still maintains a stable price, helping to strengthen investors' confidence in a safe haven asset. Gold prices remain confined below key support-resistance at $1,926. However, in the long term, it is believed that gold prices may increase due to “market overreaction to the Fed; Inflation has not ended and the economy is on the brink of recession, which will be a favorable environment for gold."
OANDA:XAUUSD
by AlselvSignals
GOLD, Two Scenarios, One Outcome, Wedge-Breakout Incoming!Hello There! Welcome to my new analysis about GOLD on the daily timeframe perspectives. As I already mentioned within posts I uploaded within the recent times GOLD has a more bullish edge and potentials for new highs on the middle to long term perspective. Especially, because the demand and open interest by institutionals is increasing massively and some are speculating about a gold-backed currency which is likely to pump massive volumes into the GOLD market when this becomes reality. GOLD has been around for several thousands of years, it even did not collapsed after the end of the Bretton Woods gold-backed system, therefore it is no wonder that the GOLD price held stable and is looking for a breakout especially with the backing by the increased demand caused by a established war economy with the ongoing inflationary tensions and investors in search for a safe heaven to hedge against a next inflation wave and excess help package spendings not to mentioned that the GOLD price without inflation would have reached an all-time-high already. When looking at my chart now GOLD is now forming an important formation, such a formation is known for an exponential volatility breakout, and huge gains into the breakout direction. Especially within this current price dynamic with the broader global formation still aiming for a final breakout this formation is the equivalent of the broader formation on the daily timeframe perspective. The GOLD price-action is trading above several major support-zones here consisting of the 65-EMA, the 300-EMA, and the 500-EMA as well as the two ascending-trend-lines with one ascending-trend-line still backing the current price which is supporting the more likely scenario A with a 75% possibility, and the second ascending-trend-line to confirm a bounce and continuation to a final breakout if the less likely scenario B should emerge. Both scenarios are aiming for the final breakout-dynamic to setup in the next times and once the breakout has been emerged it will either activate the final target-zone A or the final target-zone B as they are marked in my chart. GOLD is now about to convert the whole formation into a massive breakout reaching local highs and when the demand in GOLD increases further because of a increased demand for a safe heaven and the inherent value of GOLD that did not lost it´s inherent value within the second half of the 20st century and the beginning of the 21st century. Considering the fact that GOLD lived throught many recessions, the dot-com bubble, the pandemic, the exploding historical high inflation since the 1970s bull-market confirms the major inherent value of GOLD as a legit crisis hedge and the fact that GOLD is now trading near it´s all-time-high with the non-inflation-adjusted price-action is underlining this standing of GOLD as a legit crisis hedge. The GOLD price should have reached an all-time-high already adjusted without inflation and still with non-inflation-adjusted price this all-time-high is likely to be reached. The next times will be highly important as GOLD is now boiling up for the next step to move into a major breakout firstly on the daily timeframe perspective and then also on the broader weekly timeframe perspective moving forward to complete the massive cup-and-handle formation. In the next time we will keep having GOLD on the watchlist and adjusting to the demand shock dynamics in commodities which has major potential to setup the next breakout wave for GOLD. In this manner, thank you everybody for watching, support is greatly appreciated, all the best! VP
TVC:GOLD
by VincePrince
3
Expect gold this weekHello dear friends. What do you think about Gold? After the opening price at the beginning of the week, we witnessed a slight decrease in Gold, from 1925 USD to 1923 USD. Gold continues to trade in a neutral range as the Federal Reserve kept interest rates unchanged in its September monetary policy meeting. Technically: A drop is expected at least to the next Critical Support level which is anticipated at $1900 after a retracement to the broken level and then a rise to the prescribed level.
OANDA:XAUUSDLong
by AlselvSignals
How does gold fluctuate after news from the FED?Gold today traded stably around 1927 USD. Yesterday's news update: As you may have noticed, after the Federal Reserve (Fed) announced news about gold interest rates there was a strong reaction and spiked to a high of 1945 USD. However, when the Fed decided to keep interest rates unchanged at 5.25% to 5.50%, gold quickly returned to a lower price of 1927 USD. Looking at the technical picture we can see that Gold is in an uptrend after receiving support from the low of $1901. Given that Gold's main trend line is still intact, the possibility of Gold increasing is quite high. If the Fed reduces interest rates in the near future, Gold will likely break the resistance level of 1950 USD.
OANDA:XAUUSDLong
by AlselvSignals