Gold May Lose All the Gains...Gold may Lose All The Gains as it is making reversal patterns already in Daily and Weekly Charts, Also Us Dollar is looking to gain little strength in Technical Charts and if market rally continues, then investors will enter in stocks and free up their capital from Gold which will make further pressure on it.
Xau_usd
xauusd in dander area that we think will going to broke &shortWe find touching @1256.86 and retesting this price agine
AND
in other side we also find same resistant @1274.39
BUT
depending on basic and news analizy
i think we will see broke and SHORT enter @1256.86 with main target @1248.09
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XAUUSD. A weekly shortOn a weekly graphic we can see that last two weeks closed in negative, although, specially the second week, was quite tight.
Still, we had a "Hanging man" figure two weeks ago and a Dojo last week. I´d therefore expect the forecoming week to close in negative as well.
I´d wait until the price climbs to the higher limit of the wedge and then short.
Sell order: 1245
SL: 1265 (just above 52w 38.2% and also year-to-date 100% Fibo)
TP1: 1220 (cross of several Fibo lines as well)
TP2: 1190 (cross of some historical Fibo lines + 61.8 year-to-date Fibo line is close + a cross with a huge channel line, broken earlier this month.
This setup doesn´t cancel the bullish flag forming just above the channel line and an overall bullish forecast which should continue in the next weeks
Gold Rally is great But how Far...?
Resuming From Gold monthly analysis, check it from gold analysis section under Research Edge
As the structure warrants, markets always tells us what to do...!
the triple three within a triple three has been completed and it is time for an interim rally
The gold had bounced from its strong support area @ 1043 levels and this is the main reason for the current rally and this rally is taking place in one larger degree and not in small scale which means that the consolidation in this degree will also be in that retrospect.
The rally is really powerful but do not succumb to the volatility or the movement and to find the analysis in one lesser degree with embedded video, i.e what the gold charts say in daily charts, do visit it here
www.mytradingcourses.com
Commodity Analysis And Trading Tips - GOLD BUY!! Today's Chart - XAU/USD
Overview :
Gold gave up some of its sharp overnight gains on Friday, but held above $1,200 an ounce as a drop in equities stoked fresh safe-haven demand for the metal.
On Technical charts, Current trend of Gold is bullish, it has given upside breakout from downward sloping trend. Now market is making higher top and higher bottom formation on chart. Market is likely to be further bullish, it has retrace its recent significant upward movement and still sustaining above the downward sloping trend line with formation of symmetrical triangle. It has been taking support of 50 DMA & 200 DMA on one hourly chart. Resistance is seen at high of $1240, while support is seen at $1200. On intra-day basis Gold price likely to trade tight range.
Indicators:
RSI entered and remains in positive territory now, trading at 52.9.
Let me know if you like the analysis guys and I will keep it coming :)
Gold: another slowdown, not a reversal. Part 2.Now, one thing is a concern for me here: price breaks trendline and it also breaks the resistance line. We only had a similar incident in Mar 2014 and that resulted in a continuation of a downtrend.
An uptrend (as well as a downtrend) only exists when it can be clearly marked with a trendline. As of now, it is simply impossible to draw any reasonable trendline that supports long positions. While I am not saying the price of gold cannot appreciate further, I'm still looking to short gold somewhere near these levels.
Gold: another slowdown, not a reversal. Part 1.Let's take a look at the monthly chart of gold.
1. We can clearly see a major downtrend line starting in Sep 2011, when gold was trading at its pick of roughly 1920 U.S. dollars per troy ounce.
2. In Oct 2012 an acceleration started. It lasted till Jun 2013.
3. Ever since that time gold has been going down at a slower pace shitting the trendline. It is not shown on this chart, but we had similar situations to the one we have now in Mar 2014, Jul 2014 and Jan 2015. All those incidents resulted in the price of gold returning back to its fall.
Let's not move on to the daily chart for further analysis.
Long XAU/USDOn the monthly XAU/USD has entered a ranging mode, this puts 1400 in view as a potential top of range.
On the weekly chart, we have entered a fresh uptrend.
On the daily chart, we are in a strong uptrend.
A sharp return to the 1190 level would generate opportunity for great long.
A slower return to the 1190 level would be less favourable and I would expect to see a slightly deeper penetration perhaps to 116x.
Tier 1 trade because we are at a major trendline on the monthly and it is not cleared yet; trends are not in agreement.