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Gold price rebounds from 50-SMA ahead of Fed inflationGold consolidates weekly loss while posting a corrective bounce from the lowest level in 13 days as traders await the US Core PCE Price Index for June, also known as the Fed’s favorite inflation gauge. In doing so, the precious metal takes a U-turn from the 50-SMA but stays on the way to posting a second consecutive weekly loss after refreshing the all-time high during mid-July. Despite the latest rebound in prices, the commodity’s sustained trading below a month-old rising support line, now resistance near $2,428, joins the bearish MACD signals and steady RSI (14) line to keep the sellers hopeful. However, a clear downside break of the 50-SMA level of $2,359 becomes necessary to recall the bullion sellers. Following that, the 100-SMA level of $2,324 and an upward-sloping support line from early May, near the $2,300 threshold, appear as some of the last defenses of the buyers. It’s worth observing that lows marked in May and June around $2,285 and $2,277 will act as additional downside filters for the metal traders to watch during its declines past $2,300. Meanwhile, the 21-SMA level of $2,388 and the $2,400 threshold guard the immediate upside of the Gold price ahead of the support-turned-resistance line surrounding $2,428. Following that, May’s high of $2,450 and the latest peak surrounding $2,484 could entertain the XAUUSD bulls. However, an upward-sloping trend line resistance from early April, near $2,490 as we write, quickly followed by the $2,500 round figure, appear tough nuts to crack for the bullion buyers. To sum up, Gold is likely to remain pressured within a trading range established since April. However, the trend line breakdown can join upbeat Fed inflation to please short-term sellers.
OANDA:XAUUSD
by MTradingGlobal
CRB Index about to go NorthCRB Index CMP 294 This is a basket of commodities. Very imp Index as its movement is related to the Dollar. If we look at the charts this Index is showing tremendous strength. Now what strength here means is weakness for the dollar in the near future. And weakness for the dollar is good for the emerging mkt equity market. One more very imp point is inflation. Commodity prices rising is also an indication that inflation will go North in the near future. In that scenario reducing interest rates by Fed will further fuel inflation. Hence to me the Fed may not reduce the Interest rates in Sep as is being expected. And this will be positive for the mkt.
TVC:TRJEFFCRBLong
by singh17vivek
CRB Index set to go NorthCRB Index CMP 294 This is a basket of commodities. Very imp Index as its movement is related to the Dollar. If we look at the charts this Index is showing tremendous strength. Now what strength here means is weakness for the dollar in the near future. And weakness for the dollar is good for the emerging mkt equity market. One more very imp point is inflation. Commodity prices rising is also an indication that inflation will go North in the near future. In that scenario reducing interest rates by Fed will further fuel inflation. Hence to me the Fed may not reduce the Interest rates in Sep as is being expected. And this will be positive for the mkt.
TVC:TRJEFFCRBLong
by singh17vivek
Bharat SeatsBharat Seats Cmp = 168 Tgt = 204 Sl = 136 Risk Disclaimer: Investment/Trading in the securities market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equities, Derivatives, Commodity, and Currency can be substantial. These are leveraged products that carry a substantial risk of loss up to your invested capital and may not be suitable for everyone. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. You should consult a qualified broker or another financial advisor before making any actual investment or trading decisions. You agree to not make actual stock trades based on comments on the site, nor any techniques presented nor discussed in this site by the author (I) or any other form of information presentation. All information is for educational and informational use only. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and the author (I) will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual users or subscribers. As a condition to accessing content and website, you agree to the author’s Terms and Conditions of Use, available here.
BSE:BHARATSE
by JMDFinancials
XAUUSD SELL LIMIT PROJECTION 07.07.24Probably not, but it may continue to trend upward over the long run, interrupted by pullbacks and bear markets. It’s important to note that gold prices have historically been volatile and have fluctuated quite a bit over time. The price of gold, like any other commodity, is subject to the laws of supply and demand. When the supply of gold is low and demand is high, the price will rise. Conversely, when the supply of gold is high and demand is low, the price will fall. Additionally, other factors like interest rates, inflation, currency value, geopolitical events, and economic conditions can have an impact on gold prices.
OANDA:XAUUSD
by kripsonfx97
1
Does BTC has a NORMAL PRICE CHANNEL ?What's a normal price channel ? I define the normal price channel as a funnel where the price is considered fair or normal, nor overpriced or underpriced. This channel shows the consolidated growth of a pair. It's a heir of the Bollinger Bands Indicator, which shows if the price is under or overpriced. With this channel we are not focused on the price movements but on the growth of value of the pair, assuming that everything traded not the markets tends to gain value in time. The boundaries of this channel must be parallel trend lines. The width of the funnel is so constant, not exponential. The starting point of the trend lines are the last maximum or Historic Higher High before the an hyper surge of the price, this can also depends by social-economical factors. The lower band starts from the minimum, the Lowest Lower Low after the the HHH. This is what I consider Normal Price Channel. But, does BTC has a NPC ? Commodities and Fiat can have a normal channel, considering the economic factor and policies adopted by Central Banks and government which lead to an increase of the prices overtime even for cyclical pairs. Nowadays, cryptos are compared to fiat, "common money" , and commodities. The volatility and media influencing of the crypto market makes most of the tokens too fluid and active to have, for now, a normal channel. On the other ends, the new legal developments of the past weeks, especially with the institutional approval fo ETFs on bitcoin and Ethereum, bring the consideration of the two main characters of this market, from coin to commodities. This can open a window to set the NPC. The issue now is about the trend lines starting point. Since the funnel must show the "normal" growth of the price, these points should be set depending on fundamental milestone for the pair or commodity, financial and legal evolutions such as laws and regulations, and social dynamics. The last higher and lower which have set new parameters for the price. Considering Bitcoin, the upper level should be set on the 2018 peak. The lower point is the minimum after the HHH, so the crypto winter LL of 2019. The choice of these points are strongly related with the 2016 halving. It was the last halving before the high hyper bubbles, which makes the last two halvings inapplicable. On the other hand, the 2012 halving is not in line with the period, not applicable due economic and financial dynamics of the last ten years. Setting the 2012 halving as normal price range would create a too narrow channel, useless today. Setting the correct starting points is crucial. The motivations behind these two points are the followings • Upper Bound : if set following the HHH so the bubbles of 2021, would be hyper priced and not useful for the analysis. If set before, so the peak in 2013, it would be underpriced and not pertinent with the economic and financial evolution of the time. • Lower Bound: if set has a minimum before the HH, that LL would be coherent with the period and so useless for the analysis. Right now, this theory is on draft and on backtesting. The aim is to find a channel where the price can be considered consolidated . The project are open to hear new ideas from anyone
CRYPTO:BTCUSDLong
by itsmcasalinii