AndeWave

AndeWave

Gold. D1 timeframe. Daily review 1) Gold is forming an upward consolidation move after the bulls held the 1786 level 2) Gold enters a volume void zone and bullish activity could push the price to 1840 3) The trend is bullish. The bulls are gaining ground 4) Yesterday's daily candlestick closes above the 1786 level, opening the way for the price to the 1802...

AndeWave

Gold. A false break-down of 1784 might push the price down. But... 1) Yesterday we saw the price fixing at 1775 and rising to the target 2) Price did not consolidate above 1784. 3) Daily analysis showed the potential for a possible break-up of the level up 4) The pullback may end up in the zone of 1775, 1780 (near the moving average). 5) High probability of the...

AndeWave

Gold. Daily timeframe. Daily review 1) Yesterday we tested the resistance at 1786 with a false-break. 2) The new candlestick did not renew the local maximum, opened under the level, made a false-break and went down. Maybe for the retest. 3) The trend is ascending, the price is still in the 1765-1786 range. 4) Yesterday's closing near the level of 1786 suggests...

AndeWave Updated 

Gold stopped in the 1770-1765 zone after a technical pullback. The price is testing the channel resistance and is above the level of 1) Since the opening the price is not falling further, but it is already consolidating above the channel resistance 2) Gold is testing the maximum density in the 1784-1765 zone. This zone may push the price up 3) On the left side of...

AndeWave

Gold. Daily timeframe. Daily review 1) Gold in a range between 1765 (key level). 1786 2) A correction in the uptrend is forming. 3) RSI is in the long zone, above the neutral line (bullish sentiment) 4) Price is testing the upper boundary of the higher volume density zone and could essentially go back towards 1825 5) The 1765-1729 zone will be quite difficult to...

AndeWave

Gold is forming a correction. The price is testing the channel resistance and the Gartley pattern indicates the end of the correction. Will the rise continue? 1) Gold fell to the 1765.9 area. 2) Gartley pattern formation completion indicates the end of the correction, the price is in the consolidation phase above the level. 3) The price is above the trend line,...

AndeWave

Gold. Daily timeframe. Daily review 1) Gold forms a paranormal bearish candle and the fall stops around 1765 2) Support level, moving averages are pushing the price back. Gold strengthens to 1775 3) Price in 1786-1765 range. It is logical to expect a pullback to 1786 4) Gold is in an uptrend. The medium-term outlook remains long 5) If gold holds above 1765, it...

AndeWave

Gold on the hour timeframe. December 5 1) Gold rises within the channel, as we see 2) The 5th Elliott wave is still developing, a local correction is forming. 3) The price reaches EMA-50 and a pull-up may follow from it 4) If the price tends lower, it has a target - the high-density volume zone of 1784 5) The trend is upward (bottom two charts). The price keeps...

AndeWave

Gold. Day timeframe. December 5, 2022 1) The price got to the level of 1802.18 and makes a false-break 2) Today's candlestick updates Thursday and Friday's highs, but drops down rapidly, forming a pin bar on an unclosed bar. 3) Gold is in a range between 1802-1786. It is logical to expect a pullback to support 1786 4) RSI indicates a bearish signal 5) The...

AndeWave

Gold. 4 hour timeframe. Local situation. 1) The fifth Elliott wave is forming. Presumably, the target may be the Fibo level 2.618 2) From 2.618 I will expect a pullback in the ABC format 3) Near the level of 1820 begins the zone of high volume, the price will not pass this zone from the first time 4) On the daily chart the candlestick is formed, which can also...

AndeWave

Gold. December 2. Daily timeframe 1) Distributive rise may end. 2) Yesterday's daily candlestick closes after the paranormal rise above the level, but today it forms a false-break 3) After the false-break, the price consolidates around 1802. This might herald the beginning of a pullback 4) The daily RSI forms a bearish signal. We are getting ready to pullback. 5)...

AndeWave

Gold. Hour timeframe. 1) Gold is in the volume density zone, there is a resistance of 1784 ahead, from which I expect a pullback 2) The price is in the range of 1784-1762, the pullback may form to the lower border of the range. 3) The trend is ascending, it is not worth selling. 4) We expect either a pullback to 1762, or a breakdown of 1784 and consolidation...

AndeWave

Gold. Day timeframe. 1 December 1) Gold breaks through the resistance of 1765, yesterday's daily candlestick closes under the high of the day. 2) From the opening the price continues to rise and reaches 1768.23. The bullish momentum ends. 3) Ahead is resistance at 1786 and the 1786-1802 range, which by volume density does not carry the key significance 4) In the...

AndeWave

Gold. Intraday situation 1) Gold tests triangle resistance and starts to execute the long scenario 2) Gold enters a difficult high volume zone. The price reaction could be different 3) The potential is long. Target is 1784 4) Price after a pullback from resistance returned to retest resistance, indicating an interested buyer 5) Positive fundamental factors...

AndeWave

Gold. Daily timeframe. November 30 1) Gold is testing the local resistance level of 1758.7 on November 24 2) Gold aims to test the 1765.57 level. 3) Gold has 1% movement from today's opening to 1765, which is about an average daily movement. There is a good chance that the price can rollback from the resistance level of 1765. 4) The market looks bullish on the...

AndeWave

Local timeframe. 29 November. 1) Gold is in the range and is not going to fall yet 2) The fifth Elliott wave is forming (presumably). 3) Price is forming a Triangle pattern in an uptrend. I think the growth will continue 4) I expect that from triangle resistance the price may fall to support, as above 1755 is a heavy zone due to volume 5) A breakdown of...

AndeWave

1) Gold is still in the 1765-1729 range. 2) The reversal pattern indicates that there are bulls in the market 3) The bulls continue to press the price and form a new support level of 1739 4) Price tends to 1765 5) The opening session was far from resistance, so I do not expect a breakdown of the level today 6) Indicators are pointing to strengthening bullish...

AndeWave Updated 

Let's look at the hourly timeframe and the local situation 1) Gold tends to the local resistance. 2) From low to resistance, gold may use up all of its energy (not enough energy to break through resistance) 3) Resistance range falls on a zone of increased volume (heavy zone) 4) A break-down of the resistance zone of 1763-1766 may provoke a strong momentum towards...