TradeWithTheTrend3344

TradeWithTheTrend3344 Updated 

Hey everyone, At present, the market is demonstrating robust support around the 1809.16 level while simultaneously testing the resistance barrier at 1830. A definitive breakthrough and sustained trading above 1830 are crucial for confirming an upward trend. Although the optimism generated by the recent NFP report, which had adverse implications for the dollar,...

TradeWithTheTrend3344 Updated 

Hello Everyone, We are currently very close to the 6-month low point at 1846.365. The highest point reached in the last day was 1879.91, and during the week, it reached 1927.31. As of now, it appears that gold presents a selling opportunity in the medium term. The medium-term trend is notably bearish, so we should anticipate further declines before any...

TradeWithTheTrend3344 Updated 

Hello Everyone, Let's adopt a patient approach and closely monitor the market's movements. We will refrain from making any major decisions until the market stabilizes and establishes a clearly defined trading range. If you have a moment, I'd really appreciate your boost for my analysis. Your input would be truly valuable. TradeWithTheTrend3344

TradeWithTheTrend3344

Hello Everyone, It appears that on Wednesday, the market displayed a particular candlestick pattern, described as "paranormal," suggesting a potential continuation of a downward trend. Local support levels were identified at 1875 and 1872.58, and breaking below this zone could signal further bearish movement. However, it's essential to remain cautious, as...

TradeWithTheTrend3344

Hello Everyone, Gold is at a critical juncture, indicating the potential for a turnaround and an increase in its value. This could be driven by several key factors. Firstly, concerns about inflation have been on the rise, and historically, gold has served as a hedge against currency devaluation during periods of high inflation. Secondly, when the global economic...

TradeWithTheTrend3344 Updated 

Greetings, The path for the upcoming week in the gold market remains uncertain, with potential scenarios of either an upward surge or a decline towards the 1890 level. Friday's closing price of 1923.71 suggests two possible outcomes: a potential upward move with a minor dip to 1918.024 and a subsequent push towards new highs, or, conversely, a bearish scenario if...

TradeWithTheTrend3344 Updated 

Hello everyone, We find ourselves currently above the mid channel on the daily timeframe, and the monthly range appears to be gradually approaching a neutral position. It's worth noting that the 1 Year High/6-month high reached 2083.78, demonstrating some fluctuations but hinting at the potential for a new upward trend. Now, the pressing question is whether Gold...

TradeWithTheTrend3344 Updated 

Greetings, Gold closed below the daily pivot point on Friday at 1919.885, a development that has prompted expectations of a potential minor decline in the short term, possibly down to around 1912.949. It's important to consider recent events in the gold market, such as reports of central banks increasing their gold reserves as a hedge against economic...

TradeWithTheTrend3344 Updated 

Greetings, Recent events have added an extra layer of intrigue to the gold market. As the price hovers around 1936.395, investors find themselves at crossroads. This juncture is influenced not only by market sentiment but also by a broader backdrop of global economic events. Amidst economic uncertainties and geopolitical tensions, gold has long been considered a...

TradeWithTheTrend3344 Updated 

Greetings, In the current market scenario, the price trend is exhibiting a gradual and persistent shift towards a bullish perspective. This transformation, while progressing steadily, is still in the process of fully manifesting. The evolving market dynamics suggest the likelihood of a potential decline in the price, with expectations centered around a...

TradeWithTheTrend3344 Updated 

Greetings, Presently, there is a robust foundation of support forming, with four distinct support levels evident on the Daily timeframe: 1887.732, 1886.043, 1884.354, and 1879.289. This accumulation of supports indicates a clear direction for the next market move. However, it's important to note that the lingering effects of the COVID-19 pandemic continue to...

TradeWithTheTrend3344 Updated 

Hello, Gold has been fluctuating in the range of 1910.935 to 1946.77. These upper and lower bounds commonly offer insights into potential resistance and support levels. Presently, there's an anticipation of a decline, with a high likelihood that gold's value might decrease to the liquidity area before experiencing an upturn. The weekly trend remains consistent,...

TradeWithTheTrend3344 Updated 

Hello, Currently, the price of gold has hit its lowest point in the day, week, and month. Over the past 3 months, it reached a low of $1893.065. The question arises: should one buy or sell gold in this situation? Looking at the 1-week chart, it appears that gold is exhibiting a bearish trend in the short term, while the medium and long-term trends lean towards a...

TradeWithTheTrend3344 Updated 

Hello, The upcoming week is likely to be interesting and unpredictable in terms of price behavior. Short-term signals are still mixed, but there are indications of growth ahead. As per our established rule, if the price remains comfortably below 1932, we might see another drop. However, if it stays above 1946, we can expect growth. Analyzing the 1-week chart,...

TradeWithTheTrend3344 Updated 

Hello, Last Friday, the price tested a support level at 1946 and then rose to a new Day high of 1963.56. Looking at the overall trend on the daily chart, it appears to be bullish. The simple moving average (SMA) is neutral in the short to medium term but bullish in the long term. On the other hand, the exponential moving average (EMA) suggests a bullish trend,...

TradeWithTheTrend3344 Updated 

Hello, Despite recent declines in the gold price, there are clear indications of overall strength in the market. Gold's bullish trend appears robust across the short, medium, and long terms when analyzed on a 1-day time interval. The market sentiment aligns with this view, as the majority of participants also hold a long-term bullish perspective. Both the Simple...

TradeWithTheTrend3344 Updated 

Hello, Several factors are contributing to the positive movement in the price of gold. Firstly, the dollar is weakening, which tends to have a favorable impact on gold prices. Additionally, there is news about weak inflation, which further boosts the attractiveness of gold as an inflation hedge and safe-haven asset. Looking ahead, once the price firmly...

TradeWithTheTrend3344 Updated 

Hello, The current market conditions suggest that the bearish momentum has not unfolded as anticipated, leading to a considerable weakening of the dollar. However, there is a possibility that gold may approach the $2000 mark in the near future. The resistance level thus far has been at 1963, and if gold can surpass and sustain a lock above this level, it could...