SteadyFund

SteadyFund

As explained in my weekly post, I am bullish on gold this week. Therefore, I will look for buying opportunity from 3388-3400, targets by 3487 for today.

SteadyFund

In my last week's post, I mentioned that the inverted head and shoulder has been formed and we should see price soaring up as long as 3300 holds. Indeed in this past week, after touching briefly 3300, price went through a few days of consolidation. I almost thought the trend has been reversed. However, I still followed my weekly instinct. And this week closes...

SteadyFund

Gold indeed rose from 3350 zone yesterday and almost touched 3400. As long as 3340 holds, I am bullish on gold. I will look for buying opportunity from 3370-3375. First target 3400 Ultimate target for today 3430

SteadyFund

Gold indeed rejected from 3350 yesterday and technically formed pattern for bearish path. However, due to fundamentals, it quickly reversed and broke 3350 resistance. This is how uncertain the market is. But it did follow my weekly view. Therefore, I am switching back to bullish view on gold for the rest of the week. I will look for buying opportunity when it...

SteadyFund

Gold has been stuck within 3300 and 3340 for a while. Yesterday after it reached 3347, it quickly dropped and closed the day below 3340. I could see the deceleration of bullish momentum. Currently 12hrly TF also prints a bearish candle. Therefore, I am switching my midterm view to bearish right now. I am expecting the price to test 3340 again today and watch the...

SteadyFund

Gold respected the trendline very well yesterday. After almost touching 3295, it slowly climbed up to 3337 and closed the day above 3320. 3337 is an important resistance level to watch. If this level holds, gold will drop and may test 3280 again before another bullish run. However, if the level is broken, we could see the price test 3400 resistance...

SteadyFund

As explained in my weekly post, I am bullish on gold this week. However, in smaller timeframe, gold has not turned into bullish yet. I am expecting some consolidation between 3280 and 3340 for a few days before it takes off. As indicated in the chart, I will try to sell from 3340 or buy from 3280 today.

SteadyFund

In my last week's post, I mentioned that gold would potentially form an inverse head and shoulder pattern. In deed, the structure has been formed after last week's closing above 3300. In daily we also noticed that the trendline structure has been broken. Currently price is retesting the trendline. If daily candle respects the trendline, we would see a strong...

SteadyFund

Gold has been very volatile these days. A single news will move the market up and down. After it went according to expectation to 3400, it quickly dropped and break 3360 support. In short term, it has turned into bearish market, as the trendline was broken. However, in my weekly post, I stated as long as 3330 is held, I am holding bullish view. Therefore, I...

SteadyFund

Gold has bounced from 3350 for a lot of times yesterday. This indicates a resume of bullish power. I am expecting bulls continue to soar today. I am looking for buying opportunity from 3365, first target 3390, ultimate target for today 3430.

SteadyFund

Gold retraced very hard yesterday and closed below 3365. This suggests bull is not that strong. However, as long as 3330 holds, I will buy towards 3390.

SteadyFund

In my weekly post, I mentioned as long as 3245 holds, gold is bullish and it is likely to form an inverted head and shoulder pattern if this week closes in a positive note. Indeed gold went up straightaway without testing 3245 support, breaking both 3325 and 3365 resistance. This is a sign of strong bullish momentum. I will be only engaging buying orders today...

SteadyFund

Gold has been in indisputable bullish trend overall. Last week was full of surprises. With fundamentally driven, it dropped until 3245 and stayed above it. In weekly, I expect it to form a inverse head and shoulder pattern and continue its bullish trend. On daily, as long as highlighted yellow support holds, gold should stay bullish. However, if this support...

SteadyFund

Gold indeed behaved as predicted. It went down to 3245 and reversed above 3280 and continued until touching 3330. As shown in the chart, the trendline was broken and I am looking for buying opportunity from the retest of the trendline. If 3330 is broken, my 1st target will be 3345 and ultimate target for today is 3365.

SteadyFund

As expected yesterday, gold did fall from 3325 and touched 3280. In 12hrly TF, it is forming a head and shoulder pattern. Most likely it will fall towards 3265. However, considering the overall bullish trend, I am cautious in engaging selling orders and will wait for 3280 broken. Upon retesting, I will place selling orders. But if 3280 holds, price may go up to...

SteadyFund

Gold acted as predicted yesterday. Since the trendline was broken, it did rejected from 3350 and broke 3322. Currently it is above 3300. I am looking to sell from either 3305 or 3322 resistance. If selling from 3305, 1st target is 3287. If selling from 3322, 1st target is 3305. My ultimate target for today is 3267. Bear in mind that weekly and monthly gold is...

SteadyFund

Gold dropped unexpectedly yesterday and it seemed to me the trend line has been broken. Therefore, I have switched my short term view to be bearish. As long as 3347 resistance holds, I will sell toward 3422 as first target and 3265 as my ultimate target for today.

SteadyFund

As explained in my weekly post, as long as the trendline holds, I am bullish on gold. Therefore, I will look for buying opportunity from 3330-3340, targeting 3410 for today. However, if the trendline is broken, the setup is invalidated.