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Technical analysis update: XAUUSD (17th May 2021)As all our previous price targets for gold were reached we would like to upgrade our short term price target for XAUUSD to 1875 USD per ounce. Bullish RSI and MACD support bullish case for gold. Also rising inflation plays in favor of gold. Furthermore, we think that the downtrend in cryptocurrency market will further support rotation into gold. Disclaimer: This analysis is not intended to encourage 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
The Inflation has LandedThe media has recognized and confirmed what we have been warning about for some time, that inflation was on the way. Well it is finally here. ‘The accommodative/bailout policies of Greenspan and his protégé Bernanke as figureheads of federal intervention and involvement into financial and monetary affairs and their ability to arbitrarily yield federal power have done nothing more than turn market participants into Pavlov’s dogs. The money they have materialized and forced fed into the global financial system without any commensurate increase in production in their economies is money in search of mischief and is very likely to find it…in the form of very serious inflation.’ theimpartiallens.com March 2015 & 2020 ‘The powers that be have had to intervene in every crisis we’ve had since the 1980s. and since The Great Financial Crisis of 2007, we now realize that we can never ever stop printing money. It is inflate or die’. theimpartiallens.com February 2021 Cost-Push Inflation The only people who can’t see the inflation are the authorities who are printing the money. They use the corrupt and decades old revision of the CPI. Meanwhile inflation is rampant in the real world. We mentioned in the following piece theimpartiallens.com that inflation manifests itself in different ways. It can go into stocks, bonds, foreign countries, oil, crypto, your health costs, your housing costs, educational costs, etc. The powers that be can live in denial and it’s not a river in Egypt. But the inflation we warned about that is now taking shape, the one they fear, the one that will bring about the revolutions, is cost-push inflation, especially food price inflation. They will try to disguise it for a while longer with shrinkflation, but when the masses realize that they are spending the same, but their kids are still hungry…watch out! One of our favorite investment themes ie. 'Real Assets' has finally caught a bid since the summer of 2020 as we can see from the performance of the following ETF’s: Agriculture (DBA) +45% Commodities (DBC) +72%< Base Metals (DBB) +69% Agri-Business (MOO) 75% Uranium (URA) 112% WTI Crude Oil (DBO) 111% Water (FIW) 64% Palladium (PALL) 61% Brent Crude Oil (BNO) 117% Rare Earths (REMX) +172% Copper Miners (COPX) 300% Lithium (LIT) 148% Cannabis (YOLO) 150% Time to Rebalance Portfolios? No harm in taking SOME crypto gains and buying some real stuff! Gold, Silver & the mining companies look interesting here. We went long the following six ETF’s in March/April 2020 in anticipation of upcoming inflation: GDX (Gold & Silver Miners), GDXJ (Junior Gold & Silver Miners), WPM (Gold, Silver, Palladium, Cobalt), WTR (Water), GLD (Gold), COW (LIvestock). ‘Nobody ever lost money taking a profit.’ Bernard Baruch “Art is making something out of nothing, and selling it.” ― Frank Zappa theimpartiallens.com
TVC:GOLDLong
by rzinho
Gold Correction is Over. Re-pricing incomingThe gold market appears to have found its bottom and rallied back above 1800USD. This correction is over IMO. The senior producers have sold off and the juniors are quiet again. Its time to add to positions or establish longs in advance of widespread commodity re-pricing to higher levels. Gold will not be left behind this time. Austral gold is still hanging in there producing cash and the focus now should be on the exploration results which will be key in replenishing reserves. If austral gold can continue to mine 50k oz of gold and then grow their resources with the recent acquisitions this stock can be a multi-bagger. The copper claims that austral has recently acquired are interesting and has a bit of a mini-barrick vibe. GLTA.
TSXV:AGLDLong
by UnknownUnicorn4409175
Gold bears looking for a discount (Update 2)Hey guys, An absolutely beautiful bullish week in goldyland with an excellent close 1830+ (above the 61.8 weekly fibo level) and we settled the '1805-gap saga' finally after 3 long months. So what's next? The rip your face off-rally is here and it isn't going away for a while. I remain bullish on gold, and buying dips is the way to go as it seems we are heading to the next fibo resistance level at 1875. For me the current gold price is too high to buy, but too bullish to short, so I will be staying out of the market for a well deserved break after hitting all my bullish targets last week. I want to see what goldy is up to next, as we are near a heavy resistance zone (1850 zone), which has been a strong support and now turned resistance + daily 200 SMA is chilling in the same zone. After such a strong weekly candle, price needs to rest and find its next move and I am expecting a ranging week ahead with a bearish undertone due to the H4 bearish divergence. The COT-report this week looks neutral with both longs and shorts closed. Depending on candlesticks and PA, goldy should give us more clues about its next move in the next week. Are the bearish candles strong & engulfing and are there signs of reversal patterns? Then a bearish reversal is near and we are looking at 1680 & 1650. Are the bearish candles wicky & slow in a bullish continuation pattern (bullflag or triangle)? Then we are looking at 1875 and maybe higher to 1900. Ideally as a gold bull I would like to buy the lower fibo level around 1770, but I expect the bulls to defend their breakout and we wont see lower than 1795 (maybe a quick wick to 1785). As earlier mentioned it can go both ways from here and taking a 'friendly observer approach' seems the better option for now. After all, not trading is also trading 😏. Stay blue, Cesaro
OANDA:XAUUSDLong
by CesaroPelucci
1
1100+ Pips In ProfitGood day guys, if you took this gold position, since I posted it, you are in well over 1000pips. If you took it from May 3rd, you should be in profit over 450+ pips or yesterday, you are up 200+ pips. What another push for all the bullish momentum into Gold. We have now reached the trend zone and I placed a sell limit position in at 1832. You know I am all about placing my position into profit. I am an early bird, however, I want you all to place your SL into profit with the buying position, especially, if you took the trade. Another phenomenal setup. There is more value in finding a trade you can hold for a week+ versus trading and scalping everyday. As far as the selling position, you guys can hold off and I will keep you updated with that position. Back to gold, with all the bullish headlines, there is a lot of euphoria that will come, when the move has already occurred, it is already too late. The markets will look to trap lagging bull traders into the market, by driving price in the opposite direction. That is where we will profit again. Be sure to like, comment and share your thoughts or our postings with friends and family. We appreciate you for checking out our post and remember, we will see you on the other side. Rodrick (CEO) Third Eye Traders
OANDA:XAUUSDLong
by ThirdEyeTraders
3
GOLD - trade idea - from 27.04.2021 - active Analysis: Gold was advancing to the upside since our last trade (27.04) and I am waiting for a price action for the price to hit my first target in the upcoming weeks. Once we can manage to clear the zone near the 1850$ level it will open the road to test the second target around the 1960$ level.Bad fundamental news from the worlds large economies or geopolitical/healthcare news can boost up the price momentum. Trade from 27.04.2021 - ACTIVE Trade: BUY Entry: 1780$ 1st target: 1850$ 2nd target: 1950$ S/L: 1750
OANDA:XAUUSDLong
by tmsarn
1
Silver Consolidation and Potential Breakout:The silver (XAUUSD) has been trading in a range following the spike in the price last July 2020. Traders with bearish and bullish view are testing prices in the search for indications of the next level. The weekly chart shows this battle forms a consolidation process and a triangle pattern with bears losing power in every drop. A breakout occurs when prices finally moving outside a defined support or resistance level after a period of consolidation and increased volume. Nobody knows with certainty where the next move will be, but based on the pattern, we are in the middle of a breakout trade. The upside potential is huge due to the combination of monetary and industry-specific factors. The current monetary policies of all the Central Banks for injecting more liquidity in the economy is causing warnings of the inflationary pressure and lack of confidence in the Fiat money. But at the same time, silver is not only a precious metal but an important metal for electrification and products such as electric cars, solar technology, medicine, among others. Nevertheless, good traders usually place themselves in a position close to the support level and evaluate the risk/reward ratio with a stop loss just below the last low level defined. In the end, as Elder Alexander said: "Markets spend more time in trading ranges than they do in trends. Most breakouts from trading ranges are false breakouts." - Elder Alexander (1993), Trading for a Living
SAXO:XAGUSDLong
by QuantVox
AMAZING opportunity in GOLD. Price target 6000usd (3/3)This is publication 3 out of 3. Please give my idea a like if you found it useful. Chart 1: Chart 2: History might not always repeat itself, but it often rhymes. The similarities between these charts are astonishing. The chart on the left shows us how the gold price was setting up before the parabolic bull run in the end of the 1970s. Check out the charts above for a closer look. Gold is nearing the end of its long consolidation period. Gold is ridiculously undervalued at this price. With strong fundamental support, this Cup and handle pattern will launch the price of Gold into the sky. Okay, so we have a buy setup here, but where did I get my price target from? Why do I say 6000usd as ultimate target? Well, honestly, predicting the top is going to be very difficult. Maybe we go above 6k, or maybe we top out a little below. If we compare the fib levels to the parabolic bull run in the end of the 1970s, we can see that it wicked above the 4.236 fib level. Going to the 2.618 fib level at 5400, and even wicking above - up to the psychological level at 6000usd, is not unrealistic technically speaking. I would not be surprised if we even overshoot the 3.618 fib. We also have a variety of different correlations that supports a big growth for Gold , like the gold to monetary base ratio. I don't have the time right now to go in depth about all the fundamental factors in play here, but here are some pointers: - Negative real interest rates - Gold is a tier 1 asset - store of value - Massive currency creation ---------> inflation inevitable, -> currency crisis we can already see signs of inflation - commodity prices are soaring As soon as money velocity speeds up again - inflation will accelerate -Uncertain times and political instability -> People tend to put their money in a safe asset ( Gold = Safe haven) when times are uncertain -More retail investors in the financial markets - we have seen a massive surge in retail investors and traders the past couple of years - people are becoming more informed about how the financial systems work. When crypto cools down, and all the new retail investors who thought crypto would be the best inflation hedge realise that they should diversify into other, less speculative, assets - such as Gold and other precious metals, we will gain a lot of momentum.
FOREXCOM:XAUUSDLong
by Ymir1
11
Gold Weakly ChartJust an update about Gold... I am kinda mixed about Gold at the moment. It looked as if there were legs for a good launch, and yet it did not. Stopped short at the channel resistance only to look a bit weak, closing below the weekly 55EMA with the last two candlestick suggesting a retracement off the resistance. At least the RPM and MACD is a little supportive for a pending breakout. What is also interesting is that the Largest 8 Traders (bottom panel, yellow line) appear to be buying up Gold in the last couple of weeks. On another note, the USD recently started running up. Continued bullishness in the USD would put some pressure on this Gold breakout, tipping towards a retracement. To break out or to break down? Only time will tell...
COMEX:GC1!
by Auguraltrader
3
S I L V E R - Trade Idea!!S I L V E R - Trade Idea. Precious metals overall have a lot of catching up to do compare to other commodities such as: Lumber, Copper and many others the list is endless. We saw this a yr a go coming due to Bloomberg commodity index, inflationary aspects was going to rise further. We've had good returns overall in commodities area, but isn't it time we pay attention to where precious metals is heading. We have been ranging for while, however there are still trading opportunity in the 'old skool' precious metals at a good risk/reward! Yes, aware that a lot of attention has gone towards cryptocurrencies this yr allowing further institutional investors with wide divide on the aspects on what to invest in. However, I still look at precious metals as % of my portfolio. Technical Aspects Pattern: Short Term - Pennant Longer term - Potential H&S Developing Support: 25.625, 25.165, 24.970 Resistance: 26.660, 26.915, 27.305, 27.935 Key tip: Stick to your trade plan and develop consistency Best wishes, Mind Capital (Just trade idea, not a recommendation)
FOREXCOM:XAGUSD
by MINDCAPITAL
Gold Technicals Are Looking GreatWIth Gold being under pressure this week, I am still looking for gold to continue to fall to the down side short term. However, long term I am still bullish. WIth all the money printing and failed monetary policy that is being implemented on a global scale; I am predicting Gold to rise to at least 2300 by 1st quarter 2022. Yes, we are some ways off, but I am more of a long term trader. I do not trade every day, but my setups profits are phenomenal when I see a setup like what is taking place in Gold. Well we appreciate you for checking out our post and remember, we will see you on the other side. Rodrick (CEO) Third Eye Traders
OANDA:XAUUSD
by ThirdEyeTraders
Bullish setup in gold strikingly similar to 1970s bull run (2/3)This is publication 2 out of 3. History might not always repeat itself, but it often rhymes. The similarities between these charts are astonishing. The chart on the left shows us how the gold price was setting up before the parabolic bull run in the end of the 1970s. Gold is nearing the end of its long consolidation period. Gold is ridiculously undervalued at this price. With strong fundamental support, this Cup and handle pattern will launch the price of Gold into the sky. 6000 USD/Ounce is my ultimate target. Check out my other publications to get a better understanding why the Gold price will soar, and why I think 6000 is a realistic target. Chart 1 -
TVC:GOLDLong
by Ymir1
COBALT ETF (ASX:JRV+ASX:COB+ASX:CLQ+ASX:CLA+ASX:AUZ+ASX:ARV) I've created a list of companies to represent the price of Cobalt Mining Stocks on the Australian Stock Exchange, similar to an ETF. Cobalt appears to be in early stages of a market cycle with utility across high-growth technology/industrial sectors: electric vehicles (lithium-ion batteries), semiconductors, renewable energy, etc. Please do your own research before making an investment decision, this is not financial or investment advice. Due diligence is important.
ASX:JRVLong
by AaronHynninen
4
SILVER TECHNICAL SETUP - LONGWith substantial weakness in the dollar, precious metals and the USD currency index have a strong inverse correlation. Silver has broken out from a bullish falling wedge pattern, which it has back tested and then broken out of the back test. We can also see bullish divergence for the MACd technical indicator on the 8H for Silver spot too. The attached chart shows a bullish wedge patter having being broken out of, we will look for a close above the purple line to confirm a breakout and enter a long position. Keep in mind the whipsaw effect we always see due to earnings, exercise caution.
NYSE:CDELong
by clarkehimself
2
Is a Silver Squeeze Coming?Silver made a violent move last summer when it broke a six-year resistance level. Prices have consolidated since but now the bulls may be returning. Notice how XAGUSD probed and held its 200-day simple moving average (SMA) in late March and the first half of April. This was the first test of the 200-day SMA since May. Second, prices have broken a short-term bearish trend line running along the peaks of February and late March. They’re now trying to break roughly $25.75 - $26.50, a consolidation zone from mid-March. Third, Bollinger Bandwidth has turned up after falling near 7 percent. This has been a floor for the range of motion. That could help fuel a move if the price action starts to expand. There’s also a catalyst next week with the Federal Reserve meeting on Wednesday. The white metal is a strange product overall, with flashes of excitement and long periods of boredom. It’s been inert for months, but now the price action could be pointing toward another period of quicker movement. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
OANDA:XAGUSD
by TradeStation
34