Get started

Preciousmetals

Three Falling Peaks On The Gold Miners ETFThe Gold Miners don't look like they are setting up to have a very good time as they have made Three Consecutive Lower Highs and have penetrated the line of support it's been holding. Just from looking at this pattern and how we are trading in between the 55 and 200 week Moving Averages and Preparing a Weekly Death Cross it would seem that it is setting up for a +40% Decline in the near future so long as it continues to make Lower Highs.
AMEX:GDXShort
by RizeSenpai
1
Gold Price: 1D Chart ReviewHello friends, today you can review the technical analysis idea on a 1D linear scale chart for the Gold price per ounce (GOLD). The chart is self-explanatory. Keep a close eye on the RSI as a possible re-test of the Support and Resistance Line is coming soon. Included in the chart: Trend line, Support and Resistance Line, RSI, Support Zone, Descending Parallel Channel, Ascending Broadening Wedge, Descending Broadening Wedge. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. I have a bunch of additional recent charts below on cryptocurrencies, stocks, and other assets to review. Check them out! Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
TVC:GOLD
by MillionaireEconomics
COPPER LOOKS BEARISH ON INTRA-DAY - Elliott waveWe are tracking a big impulse to the downside, from the 4.58 lvl. on COPPER. Red waves 1 and 2 are completed, so current price action from 26th of January can be a big wave 3 in the making, with its five-wave substructure, and can target the Fib. ratio of 1.618, where support can be seen. Intra-day price activity suggests a minor correction in action (iv), which can look for resistance at the fib. ratio of 0.382/0.5, from where a final leg lower for a sub-wave iii of 3 may show up.
CAPITALCOM:COPPER
by Gravity33
Technical analysis update: Gold (31st January 2022)Gold took a beating after the last FOMC. It plunged below three important support levels: 1850 USD, 1835 USD and 1800 USD; additionally, this drop invalidated the recent bullish breakout above 1835 USD. The FED's commitment to raise interest rates multiple times in 2022 poses a substantial threat to gold price. The FED's aggressive stance towards raising interest rates forces us to reassess our views. We are currently inclined towards a bearish scenario as it is being signaled by bearish technical indicators and fundamental outlook for gold. We will closely watch 1775 USD and 1750 USD price levels. Previously, the 1750 USD support level acted as the lower bound of the neutral zone. If this price level is penetrated to the downside then it tremendously increases bearish odds for gold. Illustration 1.01 Picture above shows the daily chart of XAUUSD. It also shows the neutral zone that spans between 1750 USD and 1835 USD. Gold has been trading within this zone for most of the time for the past 6 months. Technical analysis - daily time frame RSI is bearish with signs of flattening. MACD points into the downside, however, it remains within the bullish zone. If it manages to cross below 0 then it will further bolster the bearish case for gold. Stochastic is bearish as well. Additionally, DM+ and DM- show a bearish trend is present. ADX increases which suggests that this trend strengthens. Technical analysis - weekly time frame RSI is neutral. MACD undergoes reversal just slightly above 0 points. Stochastic is bearish. DM+ and DM- are bearish too. ADX declines which signals a trend of higher degree remains neutral. Support and resistance Short-term resistance lies at 1835 USD. Immediate resistance lies at 1800 USD. Closest support sits at 1775 USD. Other support which has great importance lies at 1750 USD. Please feel free to express your own 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 serve as a basis for taking any trade action by an individual investor. Your own due diligence is highly advised before entering trade.
OANDA:XAUUSDShort
by Tradersweekly
2
Gold UpdateDespite a very impulsive move, gold waves are difficult to count. I even assumed on this chart that the whole move could be wxy in wave 1 of a leading diagonal. There is no divergence on RSI meaning that there should be new lows very soon. At the same time gold can easily rip shorts in a very sharp countertrend move. Gold is notorious for doing wild unexpected swings that only later come together as jigsaw pieces of standard patterns. I will refrain from labelling the smaller waves so far to let the count reveal itself.
OANDA:XAUUSD
by Fomenka
1
Gold... an odd odesseyEver since August 2020, Gold has been acting odd. It has been ranging in a rather large range, and somewhat random IMHO. The week ended strongly down with an engulfing candlestick that covered a six week range, ending at the lower end of the range with a lower low. This is a rather bearish indication IMHO. The daily chart showed this near term bearish with a gap down and long bearish candles. Oddly... appears that the adjusted downside target is 1700-1720; with a longer term upside back to 2000. Just be wary... I am.
COMEX:GC1!
by Auguraltrader
Technical analysis update: Gold (24th January 2022)Gold continues to trade slightly above the key technical level at 1835 USD. We continue to maintain a bullish view on XAUUSD. However, we would like to voice a word of caution as there is a FOMC meeting this week which may present itself with increased volatility in precious metals. Investors will get more clues on upcoming rate hikes and economic tightening which poses threat to the general stock market and cryptocurrencies. However, in turn, we think this is a positive catalyst for the price of gold. There is a very high likelihood of capital getting out of the cryptocurrency sector which is being hammered down by a strong downtrend (and which we predicted already in November 2021). We previously noted that this would cause rotation out of cryptocurrencies into more conservative assets like precious metals. We continue to maintain this same notion even today. Our short-term price target stays at 1850 USD while our medium-term price target is 1875 USD. Illustration 1.01 Picture above shows the daily chart of XAUUSD with volume indicated by green and red bars below it. Preferably we would like to see further increase in volume which would further boost the bullish case for gold. Technical analysis - daily time frame RSI, MACD and Stochastic are all bullish. DM+ and DM- are bullish too. ADX continues to increase which suggests that the bullish trend has resumed. Overall, the daily time frame is bullish. Technical analysis - weekly time frame MACD, RSI and Stochastic are all bullish, similarly like on the daily time frame. Same applies to DM+ and DM-. ADX continues to undergo reset. Overall, the weekly time frame is bullish. Support and resistance Neutral zone appears between 1750 USD and 1835 USD which currently act as two very important supports. Closest resistance lies at 1877.14 USD. Another resistance above that is at 1916.615 USD. Major resistance lies at 2075.282 USD. Please feel free to express your own 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 serve as a basis for taking any trade action by an individual investor. Your own due diligence is highly advised before entering trade.
OANDA:XAUUSDLong
by Tradersweekly
2
Gold to $1675?Markets have priced in a March hike for some time, which takes the sting out of this form of tightening, and which could create the set-up for a 'sell-the-news' recovery in risk assets. But, more importantly, participants have begun to question whether the strike on the Fed's put is further from the market, in a regime where the central bank is battling inflation and specifically combating a de-anchoring of inflation expectations. In this context, we think it's unlikely that the Fed will pivot from their plan to start hiking rates as soon as March and start quantitative tightening soon after. However, evidence that quantitative tightening might be more impactful for asset prices suggests that the Fed could still eventually use this policy tool to manage the strike on its put — without necessarily causing undue harm to its primary objective of keeping inflation expectations bounded. For precious metals, this signals few immediate avenues for relief as the complex struggles to attract capital in the face of a hawkish Fed. The evidence continues to overwhelmingly point to Chinese purchases as the single largest source of inflows in past weeks, which are vulnerable with Lunar New Year around the corner. CTA trend followers are set to liquidate some gold length should prices break below $1810/oz. ©TDS CTA Tracker The liquidation occurred, then we're now left with very little structure below to bounce from. Because of that, I am looking to whether the trend followers push for the Sell Stops below $1675 to grab some liquidity and buy into that capitulation
TVC:GOLD
by TH_Analysis
2
$XAU - What's to come next?!$XAUUSD Gold - What's to come next? Here's the reality of 2022 - Yields up, DXY up, Indices down and yes that even means crypto's down! This was all explained in my year ahead video. Linked Below Why is this happening? What an evening! We had the FOMC yesterday. Now as I stared on my last post regarding DXY - and I will explain further in this post Fed Hike expected March. This was displayed Q4 21 - Through the dot plot so for us professional traders the moves aren't surprising it's being priced in prior. Does this mean you've lost time for dollar bull run? NO! In trading there's always beautiful trade moves and this is why I am showing you GOLD - Where to next? Technically we are within a bullish channel yet at support of the channel this area is a very key below 1810 area expected 1800 area to come into play being the 200 EMA. If not there could be a pull back as long as we don't go above 1830 areas - Bears are fully in control and I expect that pressure to continue short/medium term. I have had great opportunities being long DXY through various other products within swing and day trades and you can do the same! Search around and stick to your trade plan. Key Tip: The trend is your friend, until it's broken. Trade Safe, Trade Journal
FOREXCOM:XAUUSD
by Trade_Journal
Wedge on gold over; more weakness in store - Elliott waveGOLD turned sharply to the downside yesterday in impulsive fashion, which is expected whenever a rising wedge or ending diagonal is being observed. We see a sharp break below the lower ending diagonal line, and impulsive price action which is an inidcation that bears are in control on the 4h chart. Ideally gold is now making a new five-wave move for a higher degree wave C of (E). Be aware of temporary pullbacks (ii, iv). Another break below the lower corrective parallel channel line would be another evidence for a bearish turn.
OANDA:XAUUSD
by Gravity33
XAUUSD UpdateWell, what I can say. Last stronghold stood. I take yesterdays move as a confirmation of the bearish scenario we maintained since November 2021. See historical posts for the big picture or it is more convenient to read Weekly Updates on the website. Of course, it is too early to throw in a (beer) bear party, we'll keep quiet and watch. Wave i on the chart is only an illustration of the possible roadmap. It can be shallower or deeper, we will label it as soon as it takes shape. It would be good to offload some short before wave 2 kicks in, but we will not make hasty decisions. If the count is right we are in wave c and it can be brutal. If the price recovers and takes out the previous high - I am out.
OANDA:XAUUSDShort
by Fomenka
2
GDX Fake Out burns badIn the last post on GDX, it was mentioned: "Oops... Gapped down later last week. Again, more downside, watch for breaking of the range into the Buy Zone, and more importantly IF the support holds (white line)." For most of the week, I looked like a fool... as GDX closed the gap, tested a minor support and then spiked a long candle above the daily 55EMA. I have to be honest, I did relook and asked myself IF I missed something, misread or was biased. And then comes Monday, and by midday of trading, the previous gap down is reopened. Together with re-entry of the consolidation zone (as expected), and a repeated failure of the daily 55EMA, this story now signals an exit on the other side of the consolidation zone. Candlesticks (weekly and daily) all appear bearish, and not even needing to mention the technical indicators. Notwithstanding, I am looking for a slight higher low from the 15 Dec low, in the Buy Zone marked, over the current week. Have to keep reminding myself to be patient. When it happens, it will be very obvious. Meanwhile, I am hanging on to my knickers! LMAO...
AMEX:GDX
by Auguraltrader
4
Correction on GOLD Points Up - Elliott waveGOLD is in a possible five-wave move, up from November of 2015. Ideally wave III found a top at 2075 lvl., which means current consolidation can be a wave IV triangle. An impulsive break above the 1917 lvl. could suggest a completed correction in IV, and a five-wave lesser degree move for a wave V, aiming towards 2200. Alternate count suggest a three-wave correction in wave IV; wave C can still be in play, support is at 1600/1585 area, near Fib. ratio of 50.0. Count would be invalidated if price makes a sharp, five-wave drop, and a break below the 1376 invalidation lvl.
OANDA:XAUUSD
by Gravity33
Technical analysis update: Gold (20th January 2022)Yesterday gold broke above the key technical level at 1835 USD. We previously noted that we expected this breakout to the upside and eventual resumption of the uptrend. We continue to maintain a bullish outlook on gold. Our view is supported by bullish fundamental and technical factors. We believe that persistent high inflation combined with FED putting U.S. economy to stress with hiking rates in 2022 will drive the price of gold higher. In addition to that, higher price of gold is supported by bullish technical developments across the daily and weekly time frames. However, we are cautious as we would like to see more confirmations of the uptrend. Because of that we will observe the price action very closely in the following days. Preferably, we would like to see gold holding up above the 1835 USD price tag. Though, we would not be surprised to see the price retrace back below this level before continuing higher. Additionally, we would like to see an increase in ADX which would further suggest that trend changed from neutral to bullish. We would like to change the medium-term price target of 1850 USD to short-term price target. Additionally, we would like to set a new medium-term price target for XAUUSD to 1875 USD. Illustration 1.01 Illustration above shows the daily chart of XAUUSD. It also shows the upward moving channel. Preferably, we would like to see gold move within the boundaries of this upward moving channel. Breakout to the upside from this channel would further bolster the bullish case for gold. Technical analysis - daily time frame RSI continues to develop bullish structure. Same applies to MACD and Stochastic. DM+ and DM- are bullish as well. ADX contains low value which suggests that trend is neutral. Overall, the daily time frame is bullish. Illustration 1.02 Picture above shows the daily chart of XAUUSD. It also shows the rectangle pattern and series of previous bullish and bearish breakouts. Technical analysis - weekly time frame RSI and MACD continue to increase which is bullish. Stochastic is neutral. DM+ and DM- are due to perform bullish crossover. ADX contains low value which suggests that a neutral trend is present. Overall, the weekly time frame is bullish. Support and resistance Immediate support/resistance lies at 1834.195 USD. Resistance 1 sits at 1877.14 USD and Support 1 lies at 1750 USD. Major resistance is at 2075.282 USD and major support is at 1676.866 USD. Our latest idea on gold from 5th January 2022: Here we layed out bullish case for gold and correctly predicted breakout above the resistance at 1835 USD. Please feel free to express your own 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 serve as a basis for taking any trade action by an individual investor. Your own due diligence is highly advised before entering trade.
OANDA:XAUUSDLong
by Tradersweekly
8
Technical analysis update: Gold (5th January 2022)On 3rd January 2022 gold dropped to 1798.380 USD which coincides with price retracement towards its 20-day SMA. Price halted its decline slightly above this technical indicator and then reversed back up. In our view this is very bullish and odds for a bullish breakout above the neutral zone (between 1750 USD and 1835 USD) are increasingly growing. We still remain bullish on gold and await resumption of a bullish trend once breakout above 1835 USD occurs. We would like to set a short-term price for gold to 1835 USD and medium-term price target to 1850 USD. Technical analysis - daily time frame RSI continues to develop a bullish structure. MACD is bullish too; indeed, it performed a bullish crossover on 27th December 2021. This strongly bolsters the bullish case for gold. Stochastic oscillates within the upper area which is bullish as well. DM+ and DM- show mixed conditions. ADX contains low value which suggests that the prevailing trend remains neutral. Illustration 1.01 Picture above shows the daily chart of XAUUSD. It also shows that volume has been increasing since 27th December 2021. In our opinion, this signals that a bullish breakout is impending. Technical analysis - weekly time frame RSI is neutral. Stochastic is bullish and MACD is also bullish. Indeed, MACD performed bullish crossover above 0 points, similarly like on a daily time frame. DM+ and DM- are both declining and show mixed conditions. ADX has low value which further supports that prevailing trend is neutral. Illustration 1.02 Chart above shows the weekly graph of MACD on XAUUSD. Recent crossover is clearly visible. Support and resistance Short-term resistance lies at 1835 USD and it acts as the upper bound of the neutral zone. Short-term support lies at 1750 USD and it acts as the lower bound of the neutral zone. Another important support lies at 1721 USD while the major support level lies at 1676 USD. Other important resistance levels are at 1916 USD, 1959 USD, and 1965 USD. Major resistance level lies at an all time high of 2075 USD. Our most recent idea that shows possible setups on gold: Bullish area is indicated above 1835 USD while bearish area is indicated below 1750 USD. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Your own due diligence is highly advised before entering trade.
OANDA:XAUUSDLong
by Tradersweekly
8
XAUUSD updateOk. This has been a very tough day. Gold did violate my counts and rallied. Now we are at my last stronghold - orange wxy interpretation. I still have little doubts that the gold is bearish, but I have to work on my confirmation bias when looking at short-term counts when holding positions in the assets that are the subject of public analytics. I will keep putting disclaimers. What adds to the frustration is that stock declined yesterday and gold rallied (which I kind of saw the other way around 😖))). So now the outlook is that stocks should bounce and gold fall. Let's see if this negative correlation can work in our favour here. As previously said - a lot of good EW counts was wasted in the red rectangle area. Other than that the chart looks organic. A pinbar or bearish engulfing + steep decline that traces 1-2 waves will provide further confirmation. @Takasis I know, man, you keep telling me that gold is bullish. You score but the game is on🏉. Share a chart if you do not mind.
OANDA:XAUUSDShort
by Fomenka
XAUUSD: Supply Zone ApproachXAUUSD had a good growth yesterday and we can still see the bullish pressure on the market. But, There is a supply zone (in yellow colour) around 1850 - 1870, which made price to be dropped in the past. Currently, I expect more rise for XAUUSD and I will wait for the price to reach the daily supply zone and in the case of seeing any bearish reversal signal in 1H in the next week, I will sell gold and expect a drop on it to the marked green levels.
FX:XAUUSDShort
by Mahtab_Tradia
12
XAUUSD UpdateOk, so at this moment in time, the count on the chart suggests that gold should sell-off. Alternatively, we may continue rallying to form a red wxy. All that is not consistent with a likely bounce in stocks. I have 0 positions in stocks and heavy shorts in gold , therefore I am biased and can be a victim of confirmation bias. So either gold decouples from stocks and fall when stocks rally (can happen and did happen in the past foretelling a coming decline in stocks) or my outlook is wrong in either instrument (more likely ))) I would hate to think that we are in an even more bullish scenario which I previously indicated in orange. That is a lot of ElliottWave counts to waste.
OANDA:XAUUSDShort
by Fomenka
13
Gold: Weekly Forecast 16th January 2022Gold rebounded off well from a rising trendline, found resistance at 1829 but stayed closed to it. The fact that the market is constantly rejected at 1829 may cause a deeper pullback towards the downside before it garner stronger buyers. A minor rising trendline was also broken below after multiple rejection at the current high. This week, we will focus on selling at the beginning, looking for a better price to sell at 1823. Later on and should the price comes down, we will look for support at the demand level 1797 to see if there's an opportunity to buy again.
FX_IDC:XAUUSD
by AlgoVenture