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XAUUSD (Gold ) Analysis for next week 17 April - 21 AprilWe can see the gold the retesting the yesterday high's again , it may be just a bull trap before dropping to test the HKEX:2000 on the daily bear flag or dropping below that can swing the reversal to supports at TSE:1980 and then $1950. It can form the M here or if it broken can test ath of TSE:2070 which is much less likely as it may go to test TADAWUL:2100 psychological levels . If you see rejection here around TADAWUL:2050 - TSE:2055 , then definitely it may retest at HKEX:2007 or HKEX:2000 today . Trade accordingly
OANDA:XAUUSD
by Johnwick_forex
Gold buyers run out of steam before final dose of US dataGold price seesaws near the highest levels since March 2022 inside a one-month-old bullish channel. The bullion recently makes rounds to the upper line of the stated bullish formation amid overbought RSI (14), which in turn suggests that the buyers are running out of steam and a pullback is in the offing. The same highlights the 61.8% Fibonacci Expansion (FE) level of the metal’s moves between March 22 and April 10, around HKEX:2 ,041, as the immediate support. Following that, the previous weekly top surrounding HKEX:2 ,031 and the HKEX:2 ,000 round figure could lure the XAUUSD bears. It’s worth noting, however, that a convergence of the 100-EMA and the aforementioned channel’s lower line, close to HKEX:1 ,980-78, as the key support to watch during the quote’s further downside. Above all, the metal’s bearish trend remains elusive unless it trades beyond the 200-EMA level surrounding HKEX:1 ,947. On the contrary, a successful upside break of the HKEX:2 ,050 defies the expectations of witnessing a pullback in the Gold price. Even so, the 78.6% FE level of around HKEX:2 ,057 can test the bulls before directing them to the previous yearly high of near HKEX:2 ,070. In a case where the bullion remains firmer past HKEX:2 ,070, the record high of HKEX:2 ,075, marked in 2020, will precede the 100% FE level of HKEX:2 ,078 to act as the final defense of the short-term sellers prior to propelling the quote towards the HKEX:2 ,100 round figure. Overall, Gold price appears to have had enough of a run-up in the week and may witness a retreat. In doing so, the lower high on RSI and higher high of prices, known as bearish divergence, may play its role, if not the US Dollar.
OANDA:XAUUSD
by MTradingGlobal
GDX- Cup & Handle BREAKOUT BUY!Attached: GDX Daily Chart as of 7th April 2023 Price has given a Classic Cup & Handle Breakout Buy Signal on the Charts What do Technical Indicators say on the Daily Chart? - RSI is in overbought zone ( > 70) and confirming a Bullish Regime✅ - MACD is trending up and in buy mode, confirming Momentum✅ - DMI is in buy mode and ADX is above 25, confirming a Strong Up Trend✅ Going by Pure Price Action too and especially if you go on the Weekly Chart, you can see last Week put in a Clear Bull Power Candle which is our Breakout Candle The Green Trend Line serves as the Neckline for the Cup & Handle Pattern Trade Plan as follows: Current Market Price= 34.43 Upside Target🎯= 40 to 42 zone Stop Loss⚠️ can be < 32 This is our Swing/ Positional Trade Call ............................................... Note: Not only is GDX Bullish for the IMMEDIATE Short Term (Daily Time Frame as I have put out in this Idea), but it is also Bullish on the Higher Time Frames like the Monthly and the Weekly as well, so there is a Multi Time Frame Alignment too✅ Lastly, Refer to my Related Ideas to see my GDX Analysis on the Monthly Time Frame to get my Long Term View for an INVESTMENT CALL👍
AMEX:GDXLong
by T_Harth
GDX- BIG BULL OPPORTUNITY!GDX (VanEck Gold Miners ETF) INVESTMENT CALL📈 Attached: Monthly Chart as of 7th April 2023 (Technical Analysis self explanatory as annotated✍️ in the Chart) CMP= ~34 Upside Targets🎯: T1= 40 + T2= 60 + T3= $100... Stop Loss: SL is Not Needed but just for the sake of it one can keep it below Last Month's (March) Candle Low so < 26.50 Upside Potential is almost 3x🚀 and that too in an ETF (not an individual stock) With Risk⚠️ of just 25% at Max The Risk Reward for this Investment is FABULOUS😮✅ And it is on the same thesis of the Bull Run in Gold & Silver 🥇🥈 .............................. Check out my Related Ideas for the Bullish Call that I had put out for Silver and how it met its Target
AMEX:GDXLong
by T_Harth
SILVER- Inverted Head and Shoulders Breakout BUY!Attached: XAGUSD Daily Chart as of 17th March 2023 Price closed up 4.20% on Friday with a Bullish Marubozu Candle At the same time also triggering a Bullish Inverted Head & Shoulder Pattern Breakout Action Plan as follows: Buy triggered with Friday's Closing✅ Stop Loss⚠️ below 21.25 Upside Target🎯= 25 + (which is also the measured move of the IHNS Pattern) Silver has to catch up📈 with Gold as the Precious Metals Bull Run unfolds amidst a Banking Crisis, High Inflation and Rising Interest Rates
OANDA:XAGUSDLong
by T_Harth
Gold buyers run out of fuel ahead of US NFPBe it the Doji candlestick just beneath the 10-week-old ascending resistance line or the overbought RSI (14), Gold Price flashes clear signs of bullish exhaustion. The bears, however, need validation from the monthly support line, close to $1,981, as well as the US Nonfarm Payrolls (NFP). Also acting as the downside filter is February’s high of around $1,960 and the late March swing low of around $1,938. Following that, the metal’s south run towards the 100-DMA and the 200-DMA, respectively near $1,861 and $1,787, can’t be ruled out. Meanwhile, Gold price recovery needs a successful break of the aforementioned multi-day-old resistance line, close to $2,035. In a case where the bullion manages to cross the $2,035 hurdle and gains support from downbeat US employment numbers, its run-up towards the previous yearly high surrounding $2,070 can’t be ruled out. Should the quote remains strong past $2,070, the record high marked in 2020 around $2,075 appears the last defense of the bears. Overall, Gold losses bullish momentum ahead of the key event, suggesting a notable pullback in prices should the scheduled US employment numbers trigger the US Dollar run-up.
OANDA:XAUUSD
by MTradingGlobal
SILVER- Relative Strength says Buy!XAGUSD Another Bullish Signal for Silver🥈 Attached: XAGUSD/ Nifty 50 Weekly Chart as of 31st March 2023 - This Relative Strength Chart indicates that the Outperformance of Silver over Equity (Nifty 50) has started 📈 -It is similar to the Signal on Gold🥇 that I had shared on New Year's Day and you can see how fabulously well that Gold Buy Signal played out for us ‼️ - Expect the same for Silver as I have been saying that Silver has to catch up with Gold So if Not Already in Silver, Get In As Soon As Possible or you will miss the Move 🚀! Note: In my previous post on Silver, I highlighted an Inverted Head & Shoulder Breakout BUY SIGNAL Since that post, Silver is up 6.60% and counting....
OANDA:XAGUSDLong
by T_Harth