After yesterday's big fall, gold has reached a daily manipulation. It may continue to fall, but for now I am betting that the yellow metal will react and retest the CPI release level.
Last week my bias was bearish and for now I think to continue south. I still believe that gold will fall further. This week we may see bullish reversal, but it will be not today.
NFP hammered gold and although the uncertainty caused by recent war actions seems that gold is falling. For now the direction remains bearish. Last month gold moved very ugly - rapid moves of 300 pips in opposite directions almost every day. The result is an inside monthly bar. Gold is creating liquidity to break the all-time high once and for ever, but just not yet.
Gold is back to the news release level. Last month gold closed as an inside bar, characterised by very unclear price action. Although gold is still moving in a bullish channel, my bias has changed to bearish, at least for now, until I see strong bullish manipulation.
Gold is moving in a very broad bullish channel. Very unclear price action, but for no it seems it is will be bullish. Silver is also bullish, which is a confirmation for the rising gold, at least for now. There is not much sense to trade before the FOMC meeting tomorrow.
Price action is still very unclear. Gold opened with a big gap, but in my opinion the direction is changing to the upside.
I have no real direction for today. Gold is moving sideways and may remain in that range until Friday. The daily chart appears to be more bearish at the moment. In recent days, gold has formed a weak bearish manipulation, but price action in such tight ranges could be tricky. In any case, if I were to bet my money, I would sell gold.
This month gold is very choppy, it remains the price action from August last year. Pretty much no sense to trade. My bias for today is still bearish. As gold is in a consolidation area, it will most likely move as it did yesterday.
Gold is forming bearish manipulation. Until gold stays in the channel my bias will be bearish to the 1990 area. In my opinion, gold will remain stuck between the recent manipulations for a while and perhaps during the NY session or tomorrow we will see a breakout.
In my opinion gold formed one of the reversal patterns last week and the medium term the target is the all time high. We may see some pullbacks, I have marked my buying zones where there is a concentration of previous manipulation. In the last two weeks, NFP and CPI have been very bearish for gold, but every time gold fell, the banks bought. You know what the...
Gold was very tricky on Friday and although the news was extremely bearish for the yellow metal, it bounced back. However, the level at which gold reacted was a very suspicious one and we see that it has almost come back to that level. My view is that gold will continue to fall. The current price action suggests further bearish moves. However, keep your eyes open...
Sooner or later gold should come back to test the marked area. This area has been tested many times and from there I think gold should rise to the upper band of the channel.
I am still bullish and expect gold to stay in the yellow area I have marked. My reaction area is yesterday's daily open. Gold is currently forming a bearish manipulation on the higher time frames, which adds to the possibility of a deeper pullback. The open level from last week should be considered as a possible reaction area. This scenario is still far away, but...
Friday as usual surprised with a good decline on Gold. My bias remain bullish for this week. If the current candle close as strong bullish manipulation, most likely gold will continue up, but if it fails, it will give us better price to buy again. No need to rush it is only Monday and as we already saw markets are not much liquid. The London session will...
Gold has reached an all-time high. I expect it to break and then fall, forming the second swing. Macroeconomics Last week's PCE reading showed lower inflation and instead of gold rising, it fell. The FED is about to pause, or at least that is the expectation at the moment. Unemployment rate is rising, which is bullish for gold. It seems that the banks are...
Gold moved pretty much sideways last week, building up strength to break the October high. The question is not whether the breakout will happen or not, but how deep the retracement will be. Will it be a deep retracement and the start of a choppy price action like last year or not? Top-Down Analysis 3 weeks For now, the price is forming another bullish...
Gold is falling in a tight bearish channel. Until this channel is broken or a new bullish manipulation is formed, gold will remain bearish. CPI could be the trigger. For me, the main trend is bullish and the current decline is just a retracement. The question is when the banks will start buying gold again. Trading carries a high level of risk and can affect...
Next week I expect gold to continue to rise. If you read the analysis to the end, you will see why. Let's start digging deeper into the market. Macroeconomics The FED has paused on interest rates, saying that decisions will be made meeting by meeting. Overall, they are not convinced that policy is restrictive enough to bring inflation down. J.P. also said...