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Gold retreats on Black Friday but bulls stay hopefulGold price pares the weekly gain, the second consecutive one, after the Thanksgiving holiday as traders seek more clues to stay bullish amid mixed clues. Also testing the XAUUSD buyers is the cautious mood ahead of today’s preliminary readings of the US S&P Global PMIs for November. That said, a downward-sloping RSI line from the overbought territory and the bearish MACD signals also add strength to the pullback moves. However, a fortnight-long bullish channel formation’s bottom line, close to $1,989 by the press time, challenges the bullion sellers. Following that, the 200-SMA level of $1,959 will be the final defense of the bulls before giving control to the bears. Meanwhile, the $2,000 psychological magnet and the previous monthly high surrounding $2,010 will test the short-term Gold buyers during the quote’s fresh recovery. In a case where the XAUUSD remains firmer past $2,010, the aforementioned channel’s top line, close to $2,023 at the latest, will prod the upside momentum before directing the bulls toward the 61.8% Fibonacci Expansion (FE) of the precious metal’s October-November moves, near $2,054. Overall, the Gold Price is likely to witness further weakness but the bullish trend remains intact beyond the 200-SMA.
OANDA:XAUUSD
by MTradingGlobal
CRUDEOIL LOOKING WEAK-SHORT ENTRYCRUDEOIL LOOKING WEAK AS PER ANALYSIS Moving Average Observations: Price below 50-day, 100-day and 200-day Moving average. RSI Observations: The Daily RSI indicator has remained below 50. This is a bearish zone. Current Daily RSI reading is 42.43. ADX Observations: The Daily DMI position remains bearish. Donchian Channel Observations: Price is below middle Donchian channel (Bearish). Ichimoku Observations: Price below Ichimoku clouds. Price is below middle Bollinger band (Bearish).
MCX:CRUDEOIL1!Short
by YASHSINCE1995
Unlocking Opportunity: Soybean Oil's Reversal Sparks InterestSoybean Oil Futures Analysis: Current Price: $52.71 Soybean oil has consistently been an appealing asset, having traded near the year's high just six months ago. Recently, the commodity experienced a notable downtrend, dropping from $64.80 to $48.01. However, a modest upward movement is now observable. Upon closer examination, we identify a change in character within the market dynamics. We are strategically considering a buy position for the oil script, setting a risky stop loss at $50, and a broader stop loss at $48. Despite existing chart resistance, our expectation is for the price to reach $60.80 and beyond. It's important to note potential resistance points, as indicated on the chart. Additionally, should the price manage to breach and sustain $64.80, a significant and sustained rally could unfold over an extended period. Please be aware that this analysis is for informational purposes only and does not recommend replicating the same trading strategy. Happy Investing!
CBOT:ZL1!Long
by iamrk7
Copper MCX | Waiting for the BreakoutCopper MCX: We're currently witnessing Copper in a range-bound movement, specifically within the 695-720 range. This zone doesn't offer a clear trading opportunity as of now. To avoid potential traps, it's crucial to wait for a breakout and a sustained move beyond this range before considering any trade. Breakouts often signal a change in market sentiment, so patience is key. For those who prefer more aggressive setups, there's a slightly riskier approach: consider selling near 720 and buying near 695. This approach carries a lower risk, but remember to manage your trades cautiously. Stay informed and trade smart!
MCX:COPPER1!
by iamrk7
CrudeOil Important Levels to watch ! CrudeOil important levels to watch are as follows #Support: 6480 Sell below: 6480 only on 15 minute candle closure below the level. Target 1: 6420 Target 2: 6350 Target 2: 6280 #Resistance: 6540 Buy Above: 6540 only on 15 minute candle closure Above the level. Target 1: 6610 Target 2: 6720 => # Remember each level will act as a support and resistance individually so there is a probability of reversal and a pullback on either side so its better to make an habit to book profits at each targets and re-enter again after a breakout from the same with a proper stoploss as per your own risk appetite. => # Please do your own research before initiating any trade. Always use stoploss in order to protect your capital. => #If you are Unable to trade properly and dissatisfied with your manual trading results due to psychological disadvantages or busy schedule or "Fear & Greed" emotions, then Algorithmic trading can be the most useful solution to overcome such problems. Kindly follow us and join us using details mentioned below the idea. => # Please refer our indicators for more informed decision making. if you find it useful give it a like. => # Follow us for more such information and educational ideas and Indicators. Give it a like if you appreciate the idea. Queries will be answered in comment section. #Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
MCX:CRUDEOIL1!
by InvestyourAsset
Gold price recovery appears elusive below $1,975Gold price braces for the first weekly gain in three while defending the week-start rebound despite the previous day’s retreat from a convergence of the 100-SMA and a two-week-long falling resistance line, currently around $1,973-75 by the press time. It’s worth noting that a one-month-old horizontal area joins upbeat RSI (14) and bullish MACD signals to keep the XAUUSD buyers hopeful of crossing the aforementioned resistance confluence. Following that, the metal’s run-up to the $2,000 psychological magnet and then to the previous monthly high of around $2,010 will be imminent. However, the yearly high marked in May around $2,067 and the previous year’s peak of near $2,071 could challenge the bullion buyers afterward. Meanwhile, a horizontal area comprising levels marked since early October joins the 200-SMA to highlight $1,931-30 as a short-term key challenge for the Gold sellers. In a case where the precious metal drops below $1,930, the 50% Fibonacci retracement of its October-November upside, close to $1,910, will precede the $1,900 round figure to act as the final defense of the buyers. It’s worth noting that 61.8% and 78.6% Fibonacci ratios, respectively near $1,885 and $1,850 could test the XAUUSD bears past $1,900 and before October’s bottom of $1,810. Overall, the Gold price appears in recovery mode but the upside needs validation from $1,975 and the US data.
OANDA:XAUUSD
by MTradingGlobal
#USOIL intraday long trade setup Greetings Folks, today I have prepared a setup of USOIL on TVC the analysis is as follows- -the price currently broke out of a range of equal highs, this is a good sign of bullish momentum - the price is retracing right now, either it can take support from the 50% of retracement or respect the support zone i mentioned in chart - the safer trade would be the latter one, i have marked the take profits also or you can also use pivot point indicator for exit don't play with fire, always use a predefined stoploss
TVC:USOILLong
by profitpujari
New week yellow: The trend of reducing the gameSamson greets everyone! The downward trend in prices continues at the beginning of the new week. Currently, at the opening of the week, precious metals are trading around $1938. There are no new developments in the tense situation in the Middle East, and the USD continues to strengthen. The Federal Reserve has not clearly determined the possibility of an interest rate hike, which negatively affects the price of gold. On the 4-hour chart, Gold is showing signs of a reversal and is trading below two downward trend channels. Therefore, the downward trend is playing a favorable role in the market this week. The expected support level for this decline is $1915.
OANDA:XAUUSDShort
by Samson-FX
Gold prioritizes short sellingSamson greets everyone! Gold prices today are still being negatively impacted in the market as the US Dollar Index, which measures the fluctuation of the greenback against six major currencies, is at 105.685 points (a decrease of 0.09%). The "hawkish" signals from Federal Reserve Chairman Powell on Friday have weighed down gold, as this precious metal is currently lacking supportive factors. The downward trend continues to serve as an opportunity for short-selling traders. There may be a slight recovery, but it will only play a role as a corrective trend because selling gold remains the top priority strategy in the current situation.
OANDA:XAUUSDShort
by Samson-FX
XAUUSD-Gold analysis-The Gold is not able to hold the 2000 mark, and after making the triple top, which is the bearish sign, now lands below the 1950 psychological level -The LTP is 1937, which means again it will touch the previous week's low, which is near 1900-1880 -There is a slight bounce change near 1911-1905 for 1940-1950, but this is a short opportunity if the price remains intact at that level. -The Fibonacci, 50 % of the uptrend, is near 1910-1908, so the chance is a slight dead cat bounce for the selling opportunity - For long trade will near 1900-1980 with good risk reward -Every rise is a short opportunity for sale if the price does not break the 1960 close.
FXOPEN:XAUUSDShort
by PRIMERONIN
Gold left 2000 USD again. What happens next?Today, the price of gold continues to move away from the $2,000 range, which it has been trading around since the beginning of the week. Currently, the precious metal is trading around $1,951. Here are some important pieces of information: Factors contributing to the decline in gold prices: - The current operating interest rate in the US is at its highest level in 22 years, at 5.25% - 5.5%. - Another reason for the decrease in gold prices is the sharp drop in oil, which is closely related to gold. The price of WTI crude oil has fallen to $77 per barrel. Despite the increase in the value of the US dollar, precious metals still attract the attention of major investors. Technical analysis: As predicted by Samson yesterday, gold has dropped below the key support level of $1,950 and has shown slight signs of recovery from this level at the start of today's trading session. However, the overall trend is still unclear. Gold needs to maintain its current support level in order to potentially return to $1,975. On the other hand, breaking the current support level could lead to a further decline towards the next support level at $1,933.
OANDA:XAUUSD
by Samson-FX
Gold price consolidated near the lowest level in three weeksSamson, hello everyone! Currently, Gold (XAU/USD) continues its efforts to achieve any meaningful recovery in European trading session, currently trading at $1949. Some officials from the Federal Reserve this week have given mixed signals about the future path of interest rate hikes, which has led to money flowing out of the yellow metal, resulting in no profit since the beginning of this week. Furthermore, investors now seem less concerned about further escalation in the Israel-Hamas conflict. This is considered another factor contributing to the erosion of demand for safe-haven precious metals. Expectations of continued decrease in US Treasury bond yields have weakened the US Dollar (USD). Additionally, market caution, along with China's economic difficulties, is believed to have somewhat supported precious metals and limited their downside. Traders are now awaiting the release of the US Weekly Initial Jobless Claims data for further motivation ahead of Fed Chairman Jerome Powell's speech.
OANDA:XAUUSD
by Samson-FX
What is the last gold price of the week's trading session?Dear friends, Gold has put an end to its three-day downward trend. The escalating political tensions in the Middle East have increased the demand for safe haven assets like gold, despite the higher interest rates on US Treasury bonds. The XAU/USD price is currently trading around $1,958, showing a 0.03% increase for the day. According to previous analysis, the current price of the precious metal is hovering around $1,960 and receiving support from the key level of $1,950. This next recovery phase, also known as the corrective wave in Dow Theory. Support levels: $1,945.20, $1,933.20, $1,923.10 Resistance levels: $1,965.30, $1,978.30, $1,989.00
OANDA:XAUUSD
by Samson-FX
Copper trading idea (best for swing)copper is in side ways on the major time frame for smaller time frame we can opt to trade buy low sell high tactics on the lower time frame we had a long upside trend then price went to small sideways days as a buildup it looks good and on the contary there will be chance price creating a pullback on the breakout from upside we will avoid as there will be bearish fair value zone to for short makers and only long can played on pullback with the help of fib we can figure out the right zone to go long for further updates ill post them in comments
MCX:COPPER1!
by Jimmy_Rebello
Gold price tries to keep on the lowest level in two weeksHello everyone, Gold (XAU/USD) continues to decline for the third consecutive day on Wednesday, currently trading at $1966 and losing 0.12% for the day. However, the precious metal is trying to hold above the two-week low around the $1957-$1956 area touched on Tuesday as traders await clearer guidance on the Federal Reserve's interest rate path before making new bets. Amid the risk of significant events, the US Dollar (USD) is trying to maintain a recovery from its lowest level since September 20 reached on Monday, which is believed to be putting some pressure on the price of Gold. This indicates that the overall trend in the stock market is more subdued, along with increasing concerns about worsening economic conditions in China, which may act as a favorable driving force and limit losses for XAU/USD as a safe haven.
OANDA:XAUUSD
by Samson-FX