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Three Reasons Gold Failed at Record HighsGold (December) / Silver (September) Gold, last week’s close: Settled at 2427.9, up 28.0 on Friday and down 18.9 on the week Silver, last week’s close: Settled at 28.02, up 0.045 on Friday and down 1.279 on the week Gold and Silver futures are working back from last week’s beatdown. We believe the continued weakness is a near-term phenomenon and the result of three factors. Weakness is closely correlated to volatility associated with an unwind of the Japanese Yen carry trade. Also, the communist party of China prioritized quality growth over stimulated growth. With China’s economic growth trajectory deteriorating, the country is essentially exporting deflation. Lastly, speculative positioning in Gold became overzealous and a move off record highs created a liquidation event. December Gold futures are now front month, and strength overnight tested major three-star resistance, aligning with a .382 retracement from last week’s low back to the prior week’s all-time high at 2451.5. We will be looking for balance at 2436.7 in order to hold a constructive session. Silver certainly lagged in its strength Sunday night and continues to struggle against key resistance at 28.28-28.34. Bias: Neutral/Bullish Resistance: 2451.5***, 2464-2468*** Pivot: 2436.7 Support: 2427.9-2430.5*** Silver (Sept) Resistance: 28.28-28.34**, 28.90-29.06**** Pivot: 28.10 Support: 28.04**, 27.91-27.95**, 27.75**, 27.54**, 27.33-27.40**, 26.61-26.98**** Check out CME Group real-time data plans available on TradingView here: www.tradingview.com Disclaimers: CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
COMEX:GC1!
by Blue_Line_Futures
Navigating the Gold Market: Key Levels and Upcoming EventsIn this insightful analysis, I share my outlook on the gold market, highlighting critical levels to watch. I'm bullish on gold above the 2,327 level and bearish below it. Currently, gold is holding support at a key demand level, but a breach of this support could turn it into resistance. This week is packed with significant news, including the Non-Farm Payroll (NFP) report and FOMC meetings, which could impact market movements. Monday is the only quiet day without major news events. Stay informed to navigate the market effectively.
COMEX:GC1!
by MOTIONCAPITALTRADING
#202431 - priceactiontds - weekly update - gold futuresGood Evening and I hope you are well. Quote from last week: bear case: Bears made another amazing trade selling above 2440 and since this was the third time, they are confident they can push the market lower to at least 2300 again. The selling was strong enough for a second leg and right now a measured move would bring us exactly to 2300. Coincidences huh. Every time someone tells you technical analysis does not work, just nod and make money. It’s not worth the discussion. comment: Bears got their second leg down and the buying has been lackluster at best. Leaning heavily bearish until bulls trade strongly above the daily 20ema again. It’s a tight channel down and already much stronger than the previous sell offs from > 2400. As long as the channel holds, I’m full bear. No deeper analysis needed. current market cycle: trading range on the daily chart but small bear trend inside, which could bring us to 2300. key levels: 2300 - 2488 bull case: Bulls are very weak. The pullbacks they printed so far were doji’s and inside bars. Until they can print a big bull bar closing on it’s high, they have no reasonable arguments for a reversal. 2300 is much more likely than a strong breakout above the bear channel. Expecting more buyers to step in around 2300/2310. Invalidation is below 2290. bear case: Increased volume on the sell off and every rip is sold. Play the channel as long as it holds, bears have every argument on their side. The odds that we break below 2300 this time are decent, since market now tried 3 times to hit 2500 and market will only try one thing so many times until it does the opposite. Invalidation is above 2436. outlook last week: “ short term: Full bear mode if we close below 2360 over the next 1-2 days. At least down to 2300 but decent chance we drop lower this time and start a new bear trend.” → Last Sunday we traded 2399 and now we are at 2381. Low of the week was 2352, outlook was good for 47. short term: Full bear mode continues as long as the bear channel holds. Look for shorts near the top and take profits at new lows. medium-long term: For now I think the most reasonable outlook I could give is a trading range 2200-2500. This could hold for some time. Bear in my still thinks this rally is moronic and we will see 2000 again this year but that’s as unreasonable of an outlook one could hold so don’t. —unchanged since May current swing trade: None. Will short on weakness on Monday. chart update: Added bear channel.
COMEX_MINI:MGC1!Short
by priceactiontds
Bitcoin vs Gold Cup & HandleBitcoin weekly chart vs gold monthly chart, cup and handle edition. Gold broke out of it's handle this year, waiting to see if Bitcoin does the same as the fundamentals continue to strengthen. As of the Bitcoin Conference this past week we now have legislation announced that would create a strategic Bitcoin reserve here in the US, and Trump and Kennedy vowing to hold Bitcoin as a reserve asset if elected and end the current government policy of selling seized Bitcoin. Harris is also switching to pro-crypto after the Biden administration has been actively anti-crypto during this term. Keep buying Bitcoin.
COMEX:GC1!Long
by PrepForProfit
27
AFTER US DATA.....TRADE AND BUY MAX---TREND CHANGE GOLD SILVERCOMEX.... Trend Change—-Before US open….. Intraday BUY Call.... Buy Gold August Futures 2358-2363 range and keep SL 2345 and wait TGT1 2401 and wait TGT2 2407 and wait TGT3 2415.....wait above TGT1 in next few hours..... Buy Silver September Futures 27.460-27.560 range and keep SL 27.190 and wait TGT1 28.300 and wait TGT2 28.600 and wait TGT3 29.000.....wait above TGT1 in next few hours..... Note—EXIT AND BOOK PROFITS SELL CALL IN GOLD AND SILVER....
MCX:GOLD1!Long
by sebihirengarasondia
2475/2300 GOLD AUGUST FUTURES NEXT WEEK-MAJOR MOVEMENT NEXT WEEKComex.... Gold and Silver update..... ALL TGT1+2+3 achieved today......in Gold and Silver..... Major movement.....Gold and Silver Next Week—What Next??? Gold August Futures—2352.35 range to 2389.75 in few hours.....see Thursdays BTST buy call on few hours ago......wait 2475 or book profit and again 2300 August gold futures next week.... Silver September Futures—27.558 range to 28.218 in few hours.....see Thursdays BTST buy call on few hours ago......wait 30.000 or book profit and again 26.000 September silver futures next week.... SEBI REGISTERED RESEARCH ANALYST
MCX:GOLD1!
by sebihirengarasondia
GOLD: 21 JUL, 2024© Master of Elliott Wave Analysis: Hua (Shane) Cuong, CEWA-M (Master's Designation). Forecast: Bearish Where are we in Elliott wave analysis? The left-hand chart shows that we are inside the third wave (labeled wave 4-grey). It will basically drop lower in the near term, and after it ends, we will try to look for the 4th wave. (1D Chart): The broader context suggests that wave ((v))-navy may have peaked, completing the entire wave 3-grey. Consequently, wave 4-grey is unfolding to push lower. It might reach as low as 2,304.7 or even lower. I haven't concluded whether wave ((v))-navy has fully ended or if it's just the first wave of the entire wave ((v))-navy, but the current decline is quite necessary. A series of accurate forecasts with gold have been effective, so this is a time when I need more evidence to make further conclusions. (4H Chart): Since the high of 2,488.4, a five-wave pattern is unfolding to push lower, with wave iii-grey currently active. Whether it will continue to push down or if it is over is not as important as the fact that wave iv-grey is about to open up and push a little higher. After wave iv-grey ends, wave v-grey may return to continue pushing lower.
COMEX:GC1!Short
by ShaneHua
1
TGT achieved tuesdays buy call Gold and Sil--What Next This WeekCOMEX..... See.....Gold August Futures High......2432.85 range......buy 2385.00-2390.00 range yesterday on few hours ago...... What next.....wait 2450.00 or book profit and again 2385.00 before today’s closing or this week..... See.....Silver September Futures High......29.625 range......buy 28.750-28.850 range yesterday on few hours ago....... What next.....wait 30.200 or book profit and again 28.850 before today’s closing or this week..... MAJOR MOVEMENT TODAY IN GOLD AND SILVER..... NO MORE FREE TRIAL CALL.... SEBI REGISTERED RESEARCH ANALYST
MCX:GOLD1!
by sebihirengarasondia
Major movement today in gold and silver....COMEX..... See.....Gold August Futures High......2419.45 range......buy 2385.00-2390.00 range yesterday on few hours ago...... What next.....wait 2450.00 or book profit and again 2385.00 before today's closing..... See.....Silver September Futures High......29.543 range......buy 28.750-28.850 range yesterday on few hours ago....... What next.....wait 30.200 or book profit and again 28.850 before today's closing..... MAJOR MOVEMENT TODAY IN GOLD AND SILVER.....
MCX:GOLD1!
by sebihirengarasondia
1
GOLD Cycle Patterns - Get Ready - Rally - Rally - RallyThis short video shows how my GOLD Cycle Patterns are set up for a broad upward price move in Gold/Silver over the next 5+ trading days. If you've been following my Plan Your Trade videos (for the SPY/QQQ), you'll probably love these Gold Cycle Patterns and my metals research. Some people continue to comment that my research is "Spot On". I tend to agree, but remember, these patterns are only about 80% accurate over 12 months. Still, there is nothing else like these SPY/GOLD Cycle Patterns that provide clear/actionable trading signals/insights 2~3 weeks into the future. Check it out... Get ready for Gold to target $2550+ over the next 5+ trading days. Get Some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #es #nq #gold
COMEX:GC1!Long
by BradMatheny
Can the HOUSE CAPITALIZE LONG during today's NY Session...?COMEX:GC1! "The One Most Adaptable to Change is the One that Survives." -Charles Darwin Last night as I was monitoring my assets I noticed here on GOLD that sellers have created this Descending iR/LQ Trendline on the LTF's 1Hr N below that needed to be swept.... Now that buyers have swept that liquidity during last night's London Session. I have now set my limit for NY session to go LONG. I want to see the retest of Major Key Level $2,400.00 as my Key entry and then target the unmitigated 1Hr Supply zone above. 1) I'll keep close update as PA develops and we have more data to work with. Remember when it comes to FRM (Financial Risk Management) our job is to manage the downside costs of printing High side returns of $$$ consistently. Let's Keep Steppn!! Stay Focused & Reach Excellence!! #BHM500K #NewERA #Champions
COMEX:GC1!Long
by TreyHighPwr
ALL TGT1+2+3 ACHIEVED....WHAT NEXT 2350/2550 GOLD AUGUST FUTURESCOMEX.... ALL TGT1+2+3 achieved today in Gold and Silver.....see yesterdays STBT sell call in Gold and Silver.... See....Gold August Futures low 2453.85 range today.....sell 2488.35 range yeterday---What Next....wait 2350 or Book Profit and Again 2550 Gold August Futures This Week..... See....Silver September Futures low 30.085 range today.....sell 31.655 range yeterday---What Next....wait 28.000 or Book Profit and Again 32.000 Silver September Futures This Week.....
MCX:GOLD1!Short
by sebihirengarasondia
2
GOLD: Time to shine bright?- The chart is self-explanatory as always - Gold is at the ATH with a strong Bullish candle - A breakout will do the trick - Bank of America has given a target of $3000 for 2025 - Yesterday, Gold flew high in the US. - The rising uncertainty in the world is another impetus. Thoughts??? ⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
MCX:GOLD1!
by TheChartereds