Gold Long Gold has been trading inside the channel and its currently at the bottom of the channel , it's currently also at the 0.618 retracement level on the fib so i'm expecting the price to go up from here.
Xudusd
gold/usd moving for the next days There is a great possibility that it will rise if it reaches 1760 for going to 1828, and a small possibility of going as far as 1681.
GOLD Buy zone and price right now GOLD is in down trend after it reaches our zone we can open buy position and the stop will be 5pips below the box
Gold ready to go upwardThis is a combination of Yuriy_Bishko , Conotoxia and my ideas.
I hope it`s useful
come down ..calm down GoldUSDif you check our history we said 1765 is hard Resist
now go back to 1730
gold short idea gold may create a head and shoulder pattern, enter when the right shoulder completed, other wise will update
Gold Bulls Await A Sustained Move Beyond $1288/1295 supply zone Fundamental View :
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1. The precious metal lacked any firm directional bias on Tuesday, albeit continued showing some resilience below 200-hour SMA amid the prevailing risk-off environment.
2. Oscillators on hourly charts have been gaining positive traction and also recovered from the negative territory on the daily chart, supporting prospects for additional gains.
3. However, traders are more likely to wait for a sustained move beyond the $1287-88 supply zone before positioning for a move towards the key $1300 psychological mark.
4. Meanwhile, a decisive break below the mentioned support, around the $1280 region, might negate the constructive set-up and trigger some aggressive technical selling.
China increased its gold holdings for the fifth consecutive month in April, the People's Bank of China said on Tuesday, according to Xinhua News Agency.
Gold reserves rose by 480,000 ounces month on month to 61.1 million ounces in April. Despite the uptick, gold reserves still make up a small percentage of China's massive reserves of more than three trillion US Dollars.
The yellow metal is currently trading at $1,287 per Oz, the highest level since May 1.
And other side May 9th USD Important news is PPI and Fed Chair Powell Speaks . So dollar can be a bit stronger. 1300 is strong resistance area in Gold So Gold can be dropped by this level test.
The bullion is yet to cross $1288/90 resistance area comprising 38.2% Fibonacci retracement of March – April drop and highs marked since mid-April.
Meanwhile, an upside clearance of $1290 can trigger the prices increase to $1300 with $1297 being an intermediate halt.
Also, 61.8% Fibonacci retracement near $1302 and April month top near $1311 could become buyers’ favorites beyond $1300.
Technical View:
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Daily SMA100 1294.3
Daily SMA200 1253.94
Previous Weekly High 1288
Previous Weekly Low 1266.35
Previous Monthly High 1310.7
Previous Monthly Low 1265.6
Daily Fibonacci 38.2% 1280.44
Daily Fibonacci 61.8% 1282.51
