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Preciousmetals

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
XAUUSD: Key Level Approach After a good growth, price approached to the red resistance zone around 1831 and got rejected from it. Currently, it seems like price is making a reversal Head & Shoulders pattern: If the right shoulder will be completed and price breaks 1812 with a bearish candle closure below this level, I expect a drop to 1801.60 and in the case of a downside breakout on it, the next target for XAUUSD would be around 1782.45 Moreover, there is hidden divergence between MACD highs and price highs: Although price failed to make a higher high, MACD has made a higher high. Otherwise, in the bullish scenario, if price breaks the red resistance zone and closes above it, we expect more rise for XAUUSD around 1850.
FX:XAUUSDShort
by Mahtab_Tradia
17
$XAGUSD Silver Long Term Structure AnalysisTraders, This is the longer term structure analysis of Silver (XAGUSD). Silver is at a crucial support level which if broken and confirmed, will lead to a good fall to possible targets around 19 and even 15. This support level has been tested quite a few times already each time the bounce up is getting smaller. So watch out for a any bearish indication. On the bullish side we have few levels as well around 24 and 26. If this it starts to go higher those bullish targets will be hit first and then we will have re-analyse. Rules: 1. Never trade too much 2. Never trade without a confirmation 3. Never rely on signals, do your own analysis and research too ✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums. ✅ Follow me for future ideas, trade set ups and the updates of this analysis ✅ Don't hesitate to share your ideas, comments, opinions and questions. Take care and trade well -Vik ____________________________________________________ 📌 DISCLAIMER The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only. Not a financial advice or signal. Please make your own independent investment decisions. ____________________________________________________
OANDA:XAGUSDShort
by vikinsa
4
Bearish on silver and Gold Hey guys, Hope everyone New years was great. We are looking at the daily chart of silver which is looking like it is forming a correction pattern. With it lack luster performance last year i dont see it changing that soon with sellers coming in every pop it had. I wanted to also debunk some Myth of the market that people dont seem to pay attention too, and that is Silver/Gold are hedges against inflation and the market going down. This couldn't be more false, gold and silver are hedges to Monetary policy, its the fed reaction to these events that shoot gold and silver up not the event itself. Lets take the inflation of the 1970s-1980s yes gold was tied down but when it was released from the gold standard in 1972 it went up on anticipation of what the fed chair was going to do then corrected in 1976 right back to the same price it was in 1972 then raised again in anticipation until Paul Volcker did his tightening then rip up as money flooded the stock market. Gold and silver usually tell you the direction the market is about to go but do not go opposite to the market. COVID is the perfect example both gold and the stock market went down together and both rebounded together on the exact same day but gold and silver will out perform in anticipation of the effect of the monetary policy applied in the crisis. So if you believe the market will correct with the tightening then you must look back at silver and see that it will fall too. timing it near the bottom will be a much more rewarding venture then buying it now.
TVC:SILVERShort
by jackwheeler
1
XAUUSD Bearish ScenarioAs I expected in my previous analyses for XAUUSD, price had a good drop in the last week. We can see price is facing a bearish pressure and the main trend is a downtrend. Currently, price is retesting the resistance zone around (1800 - 1805), and the last major low is at 1782.45 If price breaks the last major low (1782.45) to the downside and closes a bearish candle below this level, after the price retest, we can expect a drop to 1770 and 1752. What is your outlook for XAUUSD this week? Feel free to share your ideas in the comments.
FX:XAUUSDShort
by Mahtab_Tradia
16
Gold: Weekly Forecast 9th January 2022Gold came down again after a month-long of upward consolidation but found support at demand level 1787. The trend is currently still ranging and the price is now trading right in the middle of the entire symmetrical triangle. This week, we will observe for further support at the demand level 1787 and look for buying opportunity if it holds. Otherwise, the price could break down and go lower towards the 1767 demand level and we can look for buying opportunities again at the bottom of the symmetrical triangle.
FX_IDC:XAUUSDLong
by AlgoVenture
2
Gold's Yearly Outlook 2022Hi guys, Welcome to 2022, the year where gold will make new all time highs. But (there is always a but) not before all bulls will be flushed out and the whole market will start turning bearish. There will be no free lunch and prices of below 1680 are possible. The bears set the tone for Q1 and they treated us with a strong engulfing bearish candle on the 1st trading week of the year. ⚠️ Start of new rate hike cycle This year is a special year because it is expected that the FED will start a new hiking cycle in March 2022. Until that time, gold will remain in the claws of the bears and under strong selling pressure. The most important day to write in your calendar is ofcourse January 26th, as Uncle Powell will treat us with a new monetary fireworks show. This FOMC meeting will be extremely important as Powell will reveal to the market when the first rate hike will happen and if the tapering will be accelerated again just like in the December meeting. 🐻 Bearish environment for Precious Metals This is obviously a bearish environment for gold, since the strongest driver for gold is monetary policy (especially the FED's). I am expecting to see around $1725 near or after the next FOMC-meeting. From that point we need to listen carefully to what the FED will tell the market. The market is pricing in a rate hike as early as March, immediately after the end of tapering. If Powell hints on a rate hike in March, gold will remain bearish until March and I am expecting to hit 1650-1675 by then. 💎 The Golden Magic But then the magic happens. At a certain point the market will realise that there is no more cheap money. They actually now have to pay interest on their borrowed money. Which means plunging stocks, cryptos, commodities, you name it. And that is when gold will shine, as gold is an anti-cyclic asset. If we may believe history, every new rate hike cycle was followed by a strong recession. Lucky for goldtraders, that is an environment where gold feels very comfortable. Recessions, war, conflict, pandemics etc are another strong driver for gold. I expect gold will turn mega bullish by summer 2022 and I am aiming for $2000 before end of this year. But not before 1650-1675 and not before the first rate hike. ❌ No rate hike scenario If Powell surprises the market and not reveal plans for any rate hike in March, gold can jump to 1850 until the next FOMC in March with a possible test of 1900. This is a scenario that we need to take into account, and also technically still possible. 🔮 Cesaro's Crystal Ball For the coming weeks leading up to 26th of January, I am expecting to see the 1775 horizontal support to be tested with a wick. From there we are most likely going to be ranging in a bearflag formation between 1775-1815, where the market will wait for the fundamental trigger to breakdown the bearflag towards 1725 or invalidate it and bulls move the price back to 1850. For now all shorts need to have SL's above the most recent lower high 1832. Cheers, Cesaro
OANDA:XAUUSDShort
by CesaroPelucci
6
Gold H4 - Long SetupGOLD H4 We posted this yesterday thinking we may have seen a reversal at that 1810-1805 region which ties in nicely with our pullbacks (FIB) and S/R trading zone. This unfortunately broke and the next point of support was out $1800/oz psychological support, we also have lower timeframe support and H4 demand. So another confluence stack. We have broken back above that 1810 S/R price and looking for trading price of 1827 (monthly key level) and then respectively 1840 (H4 S/R).
FX:XAUUSDLong
by Trade_Simple_FX
XAUUSD - KOG REPORT!In last weeks KOG Report we said we were in long holding positions from below. We suggested we would like to see another attempt on the lower support regions which the 4H and 12H charts were suggesting due the potential double tops. We said we had higher levels of 1817 and 1824 which we would be our immediate targets and this is where we would reduce our long exposure only holding a portion of any long trades we had from below. We said we would be looking for the higher price regions of 1830-35 and above that 1850-55 for our short entries. The lower support levels held which we had shown on the charts and it gave traders a good opportunity to long the market into our immediate targets which were both completed by market close. A great end to the year for KOG members. So what can we expect in the week ahead? We would like to see Gold get some more buyers in a little higher so we are anticipating a challenge around the 1830-35 price region. We can expect this to either open with aggressive bullish momentum to target that area straight away, find resistance and make a move down, or ideally come down towards the lower support levels and then begin another incline to target that level. Please note, breaking this level will push the price to more gains potentially targeting that higher trend line resistance and key area of 1850-55 where we hope to see resistance again. Our plan: If the market opens and targets that higher resistance level of 1830-35 we’ll be looking to short it back down towards the lower support regions of 1815-10 as the first initial target and below that 1800-1797. We have a target at 1785 so we would like to see this achieved at some point during the week. We also have a higher target of 1833 so there is a chance we open, hit that level and then take a small decline from around that region to the lower support levels then push back up. What we want to see is how the price reacts at the higher resistance levels and how they hold as we think these resistance levels would be good opportunities to test the short trades. The higher resistance level is 1850-55 (potentially just short of this region), this level we feel could be a possibility so play it safe. We are still bearish on this as long as its creating lower highs so for us to go long again we would need to see the extreme lower levels acting as support to take the trades. Rather we would like to see these higher level achieved and test the short trades to hold for the longer term. This is Gold, so you know it won't make it easy, thats why lots sizes and money management are really important. Support levels: 1824 1820 1810-12 and below that 1800-1797. Resistance levels: 1830-35 1838 1845-7 1850-55 1866-70 Yearly timeframe: We have added the yearly chart to show the closing candle for the year. You can see that it failed to close above last years closing price where it rejected. It also shows the potential range for the months ahead going into 2022 where the lower support stands at around the 1670 price point. If you’ve been following our analyses you’ll know we have a target lower than that so based on the higher timeframe, its looking like we could be in for a few bearish months on Gold. Monthly Timeframe: We’ve published this chart before and we’ll stick to the plan on this. We’re looking for the lows below the 1600 price point as long as the price stays below the 1885-95 price point. There is a chance they can drive the price upwards towards that level which will still maintain the structure and still give us a lower low. This is a long term timeframe so can take months to play out, that’s if they even take it there. This is published for reference only to give you an idea of what we’re looking at. In all honesty this is going to be a difficult one to predict, it’s the opening of a new yearly candle and we’ll see the return of volume back into the markets after the festive period. We’ve seen the markets open in the new year with some very aggressive movement so please be careful, movement that looks out of the ordinary please stay out of it, wait for the price to settle and then look to take your positions. If you really want to see what can happen take a look at the opening few days of the markets last year. As always, trade safe. KOG
FX:XAUUSD
by KnightsofGold
19
Technical analysis update: Gold (21st December 2021)During the summer 2021 we expressed our belief that gold would end up trading within the range between 1750 USD/oz. and 1835 USD/oz. for an indefinite amount of time. We also noted that the bullish trend of higher degree was weakening and becoming neutral. Currently, gold trades slightly below 1800 USD/oz. Despite gold's sideways moving price action we continue to maintain a bullish view on gold, especially in the long-term. We expect an eventual bullish breakout from the neutral zone; and, at the same time, we assume such breakout will coincide with resumption of the bullish trend of higher degree. Additionally, we think this resumption of uptend will culminate in a new all time high for gold in 2022. Our view is supported by a combination of fundamental and technical factors.Main bullish drivers for gold are persistent high inflation in the U.S. and decrease in quantitative easing program (by the FED) which poses substantial threat to further rise in the general stock market. Additionally, we think the FED will be unable to raise interest rates three times in 2022. Instead, we expect the FED to backpedal on its current plans (as it did in its latest hiking cycle between 2015-2018). Illustration 1.01 Illustration above shows the daily chart of XAUUSD. It also shows 20-day Simple Moving Average (blue) and 50-day SMA (red). Many false crossovers are observable which is indicative of the neutral trend. Technical analysis - daily time frame MACD remains in the bearish area. However, it points to the upside. We will observe it closely in the following days and we will watch out for bullish crossover above 0 points. We expect such a phenomenon to be accompanied by further rise in price. Stochastic oscillates in the upper area which is bullish but it currently points to the downside. RSI started to rise recently which is bullish. DM+ and DM- show bearish conditions. Though ADX remains relatively low. Illustration 1.02 Illustration above shows the daily chart ADX based on XAUUSD. It shows relatively low value which suggests the prevailing trend is neutral. Technical analysis - weekly time frame MACD, RSI and Stochastic are all neutral. DM+ and DM- show bearish conditions but ADX contains low value. Support and resistance Closest support of tremendous importance sits at 1750 USD and breakout below this price level would force us to reassess our bullish notion. Next important support lies at 1721 USD while the major support level lies at 1676 USD. Closest resistance of high importance sits at 1835 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. Illustration 1.03 Picture above shows the daily graph of XAUUSD. It depicts two alternative scenarios that current gold's setup allows. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
OANDA:XAUUSDLong
by Tradersweekly
14
DJI/GDX appears to be nearing completion of a top.The GDX, which is an ETF comprised of precious metals mining shares appears to be topping with a head and shoulders pattern when compared to the DOW. Basically when this ratio reduces the GDX becomes more valuable when compared to the DOW Jones Industrial average and broader stock market. This ratio appears to be trapped in the undervalued zone (for the GDX) and has been there for the last 8 years. We are still in a time with good buying opportunities for gold and silver miners, as the GDX is cheap when compared to the broader stock market. Sooner or later this ratio will break down lower. When it does what would you rather own? General stocks or gold mining stocks?
TVC:DJIShort
by WinstonWolfe
1
Gold: Weekly Forecast 2nd January 2022Gold rose for the 3rd week since it took off from the demand level at 1768. As the price reaches a key resistance at 1829, little resistance is seen and thus could extend the rally going into the coming week. The gold is expected to continue rising through the vacuumed area from the current 1829 to the key supply level at 1850. This week, we will wait for a pullback towards 1818 to buy again and aim for the top of the entire symmetrical triangle, as well as the key supply level at 1850. However, we also see a good chance of pulling deeper towards 1805 should the current trend continues to follow its whippy structure. P.S. Give a thumbs up if you like our idea:) Do follow us as we will be providing daily trading ideas as a continuation to our weekly forecast. Cheers!
FX_IDC:XAUUSDLong
by AlgoVenture
1