AndeWave

AndeWave Updated 

Gold on the daily timeframe is forming a false breakout and consolidating under the global resistance zone and the local timeframe is forming a pattern that could send the price even lower. Senior Timeframe: 1) False breakout of the resistance and interest area 2) Consolidation formation below 1960 3) Closing of the daily candle near the daily low. The price...

AndeWave

Gold enters the risk zone and tests the area of the ascending support line. False-break or break-through - this nuance will be determined by the following price reaction 1) The important zone - the zone of interest 1958-1962. The price consolidation above or below the level will determine the further potential. 2) The trend is ascending, hence there is a...

AndeWave

Gold makes a false-break. The reversal bar activates a technical pullback to the 1959 level. 1) The trend is bullish, the price stopped near the level of 1998. 2) At the moment we see that the price is between the 1959 and 1998 levels. The support has not been tested yet. 3) The price can go up from the level of 1959 for the retest of 1998. 4) In the near future...

AndeWave

Gold after a false breakdown of resistance forms a technical pullback and the price is testing support 1980. 1) The trend is upward. Therefore, after a technical pullback, we should look for patterns to buy. 2) The level of 1980 may play a key role for this 3) Risk area: 1967. If the price goes below this, it will go even lower I expect a rise in the near...

AndeWave

Gold is making a retest of the 1998 level. On the back of the banking crisis, the price jumped from 1800 to 1900 in a few days. 1) False breakout of 1998. The price can bounce back to 1959. 2) The trend is strong, indicating that the rise will continue in the medium term and could reach as high as 2070 and as high as 2100 3) It is acceptable to use two strategies...

AndeWave

The technical view of gold tells us that it may continue to rise and soon enough make a retest of the March 2022 price high, 2070.630. What is going on now: 1) The weekly candlestick, like the daily candlestick, closes at the very high. I conclude that the growth is not over, and from Monday the market will continue its rise 1.1) Monday's session may open with...

AndeWave

Gold breaks forward, breaks the local resistance line and forms a bullish set-up 1) Breakout of pennant resistance 2) The price enters the long zone and forms a consolidation above the zone of interest 3) Possible retest of the level of 1924 before further growth 4) The trend is ascending. Strong. We only consider buying. 5) Consolidation above the level has been...

AndeWave

In the gold market, the strong trend continues. The price forms the retest of the area of maximum volume and with a high probability it will pass it. 1) A test of the middle of the range and the area of maximum volume. It may be successful. 2) Breakout of the 1930 area will send the price to 1960. 3) The trend is strong and on the bulls' side. 4) For a...

AndeWave

Gold seeks to retest the 1925 area of interest and the 1924 resistance level. A break-up of this area can take it up to 1959. 1) Near-term retest (within one day) is a strong signal for a possible break-up of the 1924.6 level. 2) The trend is ascending. 3) The price has a strong rise, but at the same time there is no deep pullback. 4) There is a volume void...

AndeWave

Gold enters a new bullish range. New upside potential opens up to 1960 and then to 1998 1) Strong growth and distributive movement from 1800 does not end with a pullback. Consolidation is forming - a sign of interest from the buyer side 2) Closing of yesterday's session above the level of 1910 and in the green zone is a bullish potential. 3) Re-test of the...

AndeWave

Gold, after a strong move, stops and forms a pullback to the 1889 interest zone. In a situation of increased volatility, the price stops at the support and creates a false-break 1) False-breakout by two candlesticks is a strong signal to buy. 2) It triggers a long position. 3) The bullish trend after a false-break might send the price to 1930 4) We expect a...

AndeWave

False break of strong resistance forms a technical pullback. Tuesday closes with the bears, from the opening the price falls and tests the 1885 area. 1) Price is in the 1907-1876 range. From resistance the price can head towards support 2) The trend is still bullish. Earlier it formed a local bottom, which resumed a bullish trend. 3) Technical fallback may...

AndeWave

The futures are hitting the local 1915 resistance limit zone and heading towards the liquidity grabbing interest zone. There is a possibility that price could form a range 1) Price updates local lows and moves to 1889.8 2) The trend is upward, but price needs to gain energy in order to continue its rise 3) The key zone where the price can roll back is the...

AndeWave

Gold moves out of the oversold zone, forming a false breakdown of the 1907 level. Indicators are signaling sales. 1) The trend is bullish (both locally and globally). 2) After the strong three-day rally, it is worth waiting for a pullback 3) Strong support is in the area 1876-1880. 4) In the medium-term gold growth may continue, but before this the price can...

AndeWave

The gold rests against the 1890 resistance, making a false-break and making another retest, after which the price cannot renew the local maximum, which suggests the pressure on the price from the above. 1) The price is in a new range (local 1890 - 1873) (global 1890 - 1862) and from here there is a probability of forming a correction to support. 2) The global...

AndeWave

Gold is forming a local bottom near the 1800 support zone. Positive fundamental data in the second half of the previous week pushes the price up, forming a rally 1) The futures end the correction in the 1800 area. 2) The bullish trend resumes. 3) It opens the potential for growth to 1960 4) Breakout of the strong level 1876 and consolidation above it opens a new...

AndeWave

The futures price is forming a double bottom and trying to reverse the local trend. 1) Slightly "lighter" fundamentals make the market look more positive on gold, thus we get a nice rally on Friday 2) Price breaks through the "double-bottom" pattern base and updates the local highs to 1870 3) A price consolidation above the 1860 level will determine a further...

AndeWave

Gold forms the local resistance level of 1835, after a false break-down there is no fall and the price presses the limit line 1) This consolidation format tells us about a possible breakthrough of the 1835 area and growth of the price towards 1850 2) From the point of view of the fundamental analysis, today is a hard day, so trade carefully! 3) Statistically a...