Get started

Metal

EGO trend reversal, looks very bearishEGOs run seems to be over for now, it had produced a continuation gap (bearish candlesticks), but that alone isn't enough to make a confirmation. After today with the 10% drop on shelf offering news.. it formed a bearish engulfing candle. Bearish engulfing also alone by itself is not enough to say bearish also.. so you look for volume confirmation. It seems we have that Double up those two candlestick patterns, along with gold making a pullback after breaking 1500... seems bearish too me. Trimmed position yesterday and will most likely close positions totally, or buy some short term puts. News seems to be coming with Skouries permit, so if that drops soon then its game on again. GLTA
NYSE:EGOShort
by JackOfAllTrades0
2
Metal Is Gaining Momentum & Moving Higher (Where Next + Targets)Recently we shared a chart for Metal (MTLBTC) on the request of one of our great supporters... The price moved as charted and it is now moving higher. We would like to warn you of the potential gains. Notice how trading volume continues to increase. Bullish RSI (now at 58.46). Hit EMA50 and trading above EMA10. For your benefit, I've shared the next targets using the Fibonacci tool, as well as additional information on the chart. If you enjoyed this content... Just make sure to hit like. Namaste. Previous analysis: THIS IS NOT FINANCIAL ADVICE. We share this content for learning and entertainment purposes only. We are not responsible for the use or misuse of this information.
MLong
by AlanSantana
4
Overall view on XAUUSD or Gold - Update of August 12th's weekFundamental: The main focus for gold traders remains the Chinese yuan mid-point fix because it seems to set in motion all the other events that have been driving the price action this week such as the direction of global bond yields and demand for risky assets.The People’s Bank of China fixed its midpoint for the yuan at 7.0136 against the dollar on Friday – the second time this week the benchmark was set weaker than 7. The fundamentals remain strong enough for investors to maintain a bullish long-term outlook. Technical: After a tight consolidation gold and a false upward breakout, gold breaks the supply level and ceils to the highest point since 5 years with an increasing daily traded volume. Thus, another consolidation range was formed leading to a sideways market. The precious metal displays an upcoming volatility which will either bring it to 1600.000 or to the old supply level that became a demand zone. Advise: Stay neutral or buy at the lower range level and sell at the upper range level while we don't break 1510.000 upside and 1490.000 downside.
OANDA:XAUUSD
by Theperfectionist
GOLD (XAU/USD) - SellHi, Gold has started to show a bearish price action on the strong area around $1,500 XAU/USD has reached into the pretty strong crossing area which consists of: 1. Parallel channel projection 2. Fibo Golden Ratio 625 3. The round number $1,500 4. Bearish candlestick pattern after the rejection on 4H 5. Different Fibo Extensions It has some room to go higher but we should get a short-term correction downwards. Do your own research and if this matching with mine then you are ready to go! Please, take a second and support my effort by hitting the "LIKE" button, it is my only FEE from You! Best regards, Vaido
FOREXCOM:XAUUSDShort
by VaidoVeek
5
GOLD | BUY on CorrectionThe lower (yellow) trendline coincides with the 100 EMA (gray) which indicates a strong area of support and this trendline also crosses with the next monthly Pivot-Point and also with this weeks Pivot-Point which makes this support zone super strong (I marked it with a yellow circle). Next up, we have a strong resistance where the price is right now because the weekly R1 Pivot-Point coincides with the drawn resistance zone. If this resistance holds, then we have our trade set up: Wait for pullback to lower (yellow) trendline and/or 100 EMA, then BUY (on August 1st/2nd/3rd).
FX_IDC:XAUUSDLong
by MarcsPal