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Gold conquered 2100 USD next yearHello dear friends, Precious metals continue to decline today, currently maintaining at $1914 per ounce, with little change compared to yesterday's trading session. The 1-day chart shows a breakout from the downward channel at $1910 USD. This currency pair has started to target $1900 USD. Gold may maintain stable growth above $1800 USD in the short-term selling pressure in the near future, potentially pushing Gold to conquer a higher level of $2100 USD per ounce in the coming year.
OANDA:XAUUSDLong
by Samson-FX
XAUUSD - Conquered with 1970 USD challengesHello traders! Today, Gold continues to maintain its positive trend with trading prices around $1936, after receiving a series of good news from the market yesterday. Looking at the technical picture on the 1-hour time frame, we can see that Gold is staying within an upward channel. However, it is currently consolidating around the highest level, so sellers will likely push the price of Gold down in the near future, testing the $1915 level. This upward trend is expected to continue with a projected increase to $1915.
OANDA:XAUUSD
by Samson-FX
Potential gold trades from supportDear friends, Gold prices continue to recover amid escalating tensions in the Middle East, reaching a two-month high of $1,962.62 per troy ounce. XAU/USD maintains its upward momentum, trading around $1,949 in the US session as the US dollar attracts attention following the stock market plunge. In the short term, the 4-hour chart indicates a potential downward correction, although it also shows that the upward trend is still dominant for XAU/USD. Support levels: $1,938.20, $1,926.50, $1,912.35 Resistance levels: $1,962.60, $1,978.90, $1,987.40
OANDA:XAUUSDLong
by Samson-FX
Price Action Beyond Article.As someone who trades options and is part of the trading community, I've learned that being successful involves two main things related to price action. The first part, which makes up about 20% of it, is all about understanding patterns, market trends, and support and resistance levels. This is like recognizing the different shapes and structures that prices make on charts. The second part, which is the bigger 80%, is about real-life experience in the market, your mindset when trading, and how you manage your money and risk. It's not just about knowing the patterns; it's also about how you handle your emotions, make decisions in the heat of the moment, and protect your money. So, to be a successful option trader, it's not just about knowing the patterns and trends; it's also about how you handle yourself and your money in the live market. Both parts are essential for success. #Follow One strategy, You don't need to change your strategy often, back test and give time to your strategy. #Cut your losses #Cut your losses #Cut your losses #Cut your losses #Cut your losses Just Say Thanks If you like.
NSE:BANKNIFTY
by Anand_7
Old vertex test thanks to the increase in channelDear friends, Gold continues to rise as predicted, thanks to the favored safe haven during times of volatility. In a recent development, Federal Reserve Chairman Jerome Powell hinted at the possibility of raising interest rates. However, the market does not see this as a tightening statement. It seems that there are too many external risks impacting the economy. This will support the price of gold. In the near future, "Any data showing a decline in the US economy will further support the price of gold. A recession will force the Fed to lower rates, pushing gold up to $2,100." The strong positive trend in the 1D direction indicates that gold will continue to rise significantly, with my target at $2,017 and then the highest peak at $2,065.
OANDA:XAUUSD
by Samson-FX
Powell believes that current interest rates are not too high.Powell believes that current interest rates are not too high. "Are the policies too tight? I think not." However, he admitted "rising interest rates make it difficult for everyone". The Fed also emphasized that their targets have recently performed well. Inflation in September is currently 3.7%, down sharply from more than 9% in the middle of last year. "Recent figures show progress on both of our goals: maximizing employment and stabilizing prices. The economy is still handling quite well," he said. However, the comments came on the same day as a report showing the number of people filing for unemployment benefits last week was the lowest since the beginning of the year. This shows that the labor market is tightening, which could put upward pressure on inflation. In recent days, many Fed officials said the agency may temporarily stop raising interest rates. Even the most pro-tightening members think the Fed will wait for more impact from previous interest rate hikes on the economy. The market now also expects the Fed to stop raising interest rates, at least for now. The question now is when will they start reducing interest rates. "When the environment remains risky and uncertain, we will be more cautious. The Fed will make decisions based on upcoming data, as well as prospects and risks," Powell said.
OANDA:XAUUSDLong
by NicoTradingMaster
2
Gold buyers approach $1,990 resistance amid overbought RSIGold Price rises to the highest level in three months on early Friday, rising for the fourth consecutive day, amid a softer US Dollar and mixed sentiment. That said, the Greenback dropped heavily on Thursday after Fed Chair Jerome Powell signaled no rate change in the short term. It’s worth noting that the XAUUSD’s successful break of the 200-day SMA and previous resistance line stretched from May added strength to the bullion’s run-up earlier in the week. With this, the precious metal is all set to poke a three-month-old horizontal resistance region surrounding $1,990. However, the quote’s upside past $1,990 appears difficult as the RSI (14) line hovers within the overbought region, suggesting a pullback in the prices. Even if the bulls manage to cross the $1,990 hurdle, the $2,000 psychological magnet will act as an additional upside filter before giving control to the Gold buyers. Alternatively, the 200-day SMA and the multi-month-old resistance-turned-support line, respectively near $1,930 and $1,905, appear as short-term key supports to watch for Gold sellers during the price reversal. Following that, the $1,900 round figure and August month’s low of around $1,885 will act as the final defense of the XAUUSD buyers ahead of directing the commodity prices to the 61.8% Fibonacci retracement of November 2022 to May 2023 upside, close to $1,842. In a case where the bears keep the reins past $1,842, the monthly low of near $1,810 and the $1,800 threshold will be on their radar. To sum up, Gold price is likely to remain sturdy unless it breaks $1,905. However, the metal’s pullback appears overdue.
OANDA:XAUUSD
by MTradingGlobal
GOLD - Deep reduction, long analysisHello dear friends! Today, the price of gold has made a slight adjustment and is currently trading at $1911 since the time of writing, a decrease of $18.48 or -0.96% for the day. Last week, gold witnessed its best weekly increase since mid-March due to growing safe-haven demand amidst the ongoing Israel-Hamas military conflict. In the current politically unstable situation, investors are flocking to gold. Additionally, the US declaration of tightening sanctions on Russia's crude oil exports on Friday has caused oil prices to rise to $90 per barrel. I believe that oil prices will continue to rise, and the role of gold as a safe haven will help counter inflation, which is beneficial for gold. For these reasons, gold buyers will continue to drive the price of gold higher in the near future, with a slight test of previously broken resistance levels before the upward momentum resumes. The expected increase is around $1952 - $1960.
OANDA:XAUUSD
by Samson-FX
CrudeOil important Levels to watch !CrudeOil important levels to watch are as follows #Support: 7045 Sell below: 7045 only on 15 minute candle closure below the level. Target 1: 6930 Target 2: 6750 #Resistance: 7204 Buy Above: 7204 only on 15 minute candle closure Above the level. Target 1: 7300 Target 2: 7460 => # 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 swing based support and resistance indicator 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
XAGUSD (Silver/US Dollar)XAGUSD Technical Analysis : As of 17th October 2023, silver (XAG) against the US Dollar (USD) is showing signs of a bullish trend. The Relative Strength Index (RSI) is 53.57, indicating neutral conditions, while the Moving Average Convergence Divergence (MACD) is showing a Selling crossover. The silver price has also formed an ascending triangle pattern, suggesting potential upward momentum. Key Resistance: 22.74 Key Support: 22.46 Traders should closely monitor price movements around these levels. A break above the resistance could signal further gains, while a drop below support may indicate a reversal. Consider your risk management strategy before entering any trade. On the Basis of TF are : Minute TF : "Moving Average" & Technical Indicator" are showing bullish movementum Hourly TF : "Moving Average" & Technical Indicator" are showing bullish movementum Daily TF : "Moving Average" is neutral but the "Technical Indicator" is showing bullish movementum Weekly TF : "Moving Average" & Technical Indicator" are showing bearish movementum
OANDA:XAGUSD
by tradewith_ritik
Weekend gold analysisHello dear friends! Currently, gold continues to show positive growth with prices reaching a high of $1886, the highest in two weeks. This upward trend is driven by increasing expectations of higher interest rates from the Federal Reserve. This data further strengthens the likelihood of the Fed tightening monetary policy. As a result, US Treasury bond yields surged overnight, leading to a significant recovery of the US Dollar (USD) due to short positions being covered. This USD recovery is seen as a crucial factor putting downward pressure on gold prices. However, the downtrend established from the peak of $2050 on the 1D chart has yet to be broken. With this downward momentum, gold may still continue to rise during this phase, with a potential increase to $1912 before the threat of a price decline is reassessed.
OANDA:XAUUSD
by Samson-FX
Tata Steel at Confluence Support ZoneTata steel gave a breakout from a promising channel pattern that has been in formation since over 2 years. Now the stock is taking support right at 50 DMA (Long tail candle), at .5 & .618 Fib levels and also at previous resistance zone which will now act as a support. Entries can be made in the same after a strong candle closes above 127 with strong volume. Short term Stop loss should be a a good candle close below 122 and long term SL is 117. Targets can be 150++. Trade can be held for a long term perspective too as Metal sector has given a breakout recently and is in a Stage 2 structure.
NSE:TATASTEELLong
by ST_SNOOPY
1
Brent Oil buyers need validation from $92.50Brent oil buyers take a breather after posting the biggest daily jump in six months as the overbought RSI (14) line prods the energy bulls below a three-week-old horizontal resistance surrounding $92.50. However, a clear upside break of the 200-SMA and bullish MACD signals suggest further upside of the black gold price. Hence, the quote is likely to cross the immediate hurdle surrounding $92.50, which in turn will allow bulls to challenge the monthly high of around $94.30. In that case, September’s peak of near $96.50 and the $100.00 psychological magnet will be in the spotlight. On the contrary, Brent Oil’s pullback remains elusive beyond the 200-SMA support of $90.80, quickly followed by the $90.00 threshold. Following that, a broad horizontal area comprising multiple levels marked since early September, close to $89.00-50, will challenge the energy sellers. Should the Oil bears manage to conquer the $89.00 support, its fall to the previous weekly low of $85.76 becomes imminent. However, the monthly low of $84.17 and the previous monthly trough surrounding $82.00 will test the south-run afterward. Overall, Brent Oil price stays on the way to refreshing the monthly high unless it breaks the $89.00 support.
VELOCITY:BRENT
by MTradingGlobal
Gold price at the end of the session, the price decreases slightHello dear friends, Gold today has shown its first signs of decrease after a week of continuous price increases. Currently, this precious metal is trading at $1873. With higher-than-expected inflation data announced on Thursday (US time), it has taken away the gains that gold had previously enjoyed due to safe-haven buying pressure, forcing the Federal Reserve to keep interest rates at a prolonged limited level. Although gold has reached its highest level in 2 weeks and is very close to $1900 per ounce, it has not been able to maintain that increase. The higher CPI data from the US has limited the upward momentum of gold on Wednesday. This has put pressure on gold and it is likely to have a downward trend in the near future. My target is $1835.
OANDA:XAUUSDShort
by Samson-FX
Nifty...Brent Crude... The Fundamentals and the Technical aspect In our previous updates I had mentioned that Brent crude above $90 can be a cause of worry. The current chart set up for Brent crude suggests it can go above $100 The Fundamentals If crude is heading higher, it could add pressure on Indian Imports. At the same time, the recent Quarterly results of our major IT export companies are not encouraging enough to suggest that it would be able to offset the Balance of Trade. As a result it could increase India's trade deficit and if the rise in oil prices is passed on to the consumer then it would impact inflation as well. The Technical aspect Nifty so far is trading above 21 day EMA ( currently around 19684 ) and 63 day EMA ( currently around 19515 ). If Nifty stays below 63 day EMA for 3 consecutive days, we could see Nifty trending lower possibly towards 18820 odd levels . There you go... Current scenario and Important levels have been discussed... Hope it is helpful... Take care & safe trading.. Do Like if you find it useful Follow for more trading ideas...!!! Disclaimer -The view expressed here is my personal view - Past performance is not a guarantee for future predictions - I have been wrong in the past and can be wrong again in future too - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:NIFTYShort
by indiamarketoutlook
Brent Crude: Set for 104-108The chart set up suggests support around 85-87 odd levels Minor resistance around 98 and eventual target for the set up could be 104-108 Risk::Reward ratio favors to go Long Take care & sage trading..!!! Disclaimer -The view expressed here is my personal view - Past performance is not a guarantee for future predictions - I have been wrong in the past and can be wrong again in future too - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
TVC:UKOILLong
by indiamarketoutlook