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GOLD Double Top Oportunity Weekly chart - Strong buying pressure Daily chart - Potential double short Hourly chart - pushing back to tesst top resistance once more If it rejects this top level again we are in a good way for Double top setup We will have to wait and see how price reacts to the 143 price level, If you want you can play agressive with a shot pending order on the 143 level and a ver short stop loss right above this resistance. Price might bounce back really fast and you will miss this opportunity
TVC:GOLD
by Hybriss
Gold has been correcting. Gold has given been in bear's grip since Wednesday (25-09-19), it formed a Doji on daily chart yesterday (26-09-19) and resumed the fall today. It has come out of a medium term channel on 25th, 1483-89 is the range it managed to form a bottom from when it corrected a few days back. It may break this support this time, 1440-1460 is the next target on the down side. Other indicators too are suggesting further weakness. Beyond technical analysis, Gold is probably reacting to news of US China trade talk resumption, which has seen many weathers in the recent past. Besides US China trade developments, there are many factors that can push the prices higher in near term, all major economies around the globe are giving signals of severe slowing down of economy, central banks have been cutting interest rates to support economies. In my opinion Gold should not break 1440-1460 levels in near future, investors should accumulate on dips and investors should trade long on confirmation of technical indicators. The indicators have not being supporting a buy at this stage, so wait for confirmation. Mature or experienced traders may short and ride the trend.
TVC:GOLD
by ipuneet
Gold buyers exhausted, south direction to take prices at 1323.92The shiny metal went past the 1355 level on friday and on the same day reverted back to end the day on a negative note, which indicated that the buyers ran out of steam. Today, the prices breached the immediate intra - day support of 1337.88, which further supports the bears. Moreover, on daily basis, the prices are showing divergence with the RSI indicators, extending support to the bearish outlook for gold. I think the prices will touch the 1323.92 support before we can see any upwards movement in XAUUSD. on reaching this level RSI would also be at support of 60. If the prices break further below this level, next target will be at 1310.16.
FX_IDC:XAUUSDShort
by forexnoobmaster007
let's cover all we are adding position size to our existing net short portfolio and at the time of writing this ariticle/idea our full short position in gold and silver is well justified from the measurement of risk and reward, The usd index end up moving higher yesterday and the price of gold fell a little bit,this should be seen as sign of strength but mining stocks are confirming our view even more,initially mining stocks declined but quickly take a upswing and erased the entire daily downswing,question which is arriving are miners going to form one more short term bullish wave? at this point it's rather unclear,for the very short term we don't have any valid confirmations of either bullish or bearish in mining stock,ok let's dive into gold chart and try to form a unbiased perspective so we could clearly see what's going on without being attached to our current net short position we already have wrote our thoughts on yellow metal and we don't want to repeat it every time,you can read it in our previous post but it's still up to date but the thing which we like to add today is the comparision of present scenario to 1st dec,2017,That particular session made a upswing in gold prices before it plunges back and breakdown below the 50-day moving average,you could see a small upswing in yellow metal before it collapse as it already broke below 50 day moving average yesterday after the U.S. jobs report as we expected silver took off,moved much higher than it's intraday low,you could still see rally in white metal up to 16.700 or so and it can decline from there,what does it mean for gold,our mentioned silver prices correspond to the gold prices of about 1338,we have given short term buy target for gold to 1335 and it reached but silver didn't,so once again it outperforms gold which is a strong sell sign,if we look at yesterday general stock market we could see that it moved higher and this could be a reason why silver took off but the point to note that mining stocks was almost flat,lagging mining stocks confirmed our bias even more The present situation is bearish anyway based on long term and short term basis,even if white metal and yellow metals moves higher which we are expecting to some it will not make any difference to our bias or portfolio,underperformence of mining stocks and strength in white metals making our bias even more valid We think that adding position size to our exisiting portfolio is now well justified and we could stll see some rally in both metals before the big decline continues we will keep you informed
FX_IDC:XAUUSDShort
by NeerajPandey