Get started

Futures market

Gold-> continue to drop to $ 2600. What will happen?Hi guys, Gold prices dropped to their lowest level in a week during the Asian session on Tuesday, although spot prices found some support near the $2,600 mark. Meanwhile, the prevalent risk-on environment, coupled with bets for slower Fed rate cuts and rising U.S. Treasury yields, is driving flows out of the safe-haven XAU/USD. Theoretically, any attempt to push gold prices higher may face limitations. Ahead, the U.S. Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve’s preferred measure of inflation, is scheduled for release on Wednesday. Technically, gold is attempting to break out of the key range after testing support. If a false break occurs at the 2634 level, a minor correction towards resistance may form. Resistance levels: 2634, 2649, 2663 Support levels: 2618, 2607, 2600 If sellers hold the price below 2630-2634, the bearish momentum could strengthen. However, as the price is testing strong support, a significant reaction could form a false breakout and a correction, potentially targeting levels like 2649-2663 (fibo 0.5), before continuing the downtrend.
OANDA:XAUUSDShort
by Bo-Samson
4
Gold Started the week with Big Bearish Engulfing As predicted in last week posts and on weekly analysis also , gold is moving down and started the week with a big bearish engulfing on daily time frame .On Intraday the resistance area is at 2630-50 (Fib Golden Zone) and under this area we can expect more decline in lower side , In lower side the first support area is at 2562-70 (HVN)(First TP for Sell) and next support area is at Bullish Imbalance zone @ 2530-40 (Second TP for Sell), so selling seems to more favourable for Intra day as of now.
OANDA:XAUUSDShort
by TheGoldenCircle
Gold Fluctuates: Geopolitical and Inflation ImpactThe 4-hour gold chart clearly shows the volatility caused by geopolitical and economic events. Gold prices have recovered from lows due to inflation concerns from the new US tax policy, indicating that safe-haven demand for gold remains strong. Currently, the key support level is at $2,603/oz, with resistance at $2,634/oz. Any break of these two levels will indicate the next direction for gold prices. Market Comment: Based on technical analysis and current situation, I expect gold prices to increase in the short term. Inflation concerns from the new US tax measures could weaken the USD, supporting gold prices. If prices hold above $2,603/oz and continue to react positively, I expect a further rally, possibly reaching or exceeding $2,634/oz.
OANDA:XAUUSD
by Maria_aaa
Gold stabilizes above $2,600 after sell-off on hope of ceasefireGold fluctuates above $2,600 on Tuesday after sliding almost three percent – a whopping $90 plus – on Monday due to rumors Israel and Hezbollah were on the verge of agreeing on a ceasefire. Whilst good news for Lebanon, this was not good news for Gold as it improved the outlook for geopolitical risk. At the time of writing, Gold price is consolidating the bounce near $2,625 as buyers stay cautious amid an impending Bear Cross. The 21-day SMA is closing in to cut the 50-day SMA from above. If that happens on a daily closing basis, it will validate the bearish crossover. Adding credence to the downside potential, the 14-day Relative Strength Index (RSI) has found a foothold below the 50 level, currently at 45.50. The immediate support is at the intraday low of $2,605, below which a drop toward the 100-day SMA at $2,566 cannot be ruled out. A sustained break below that level could challenge the November 14 low of $2,537. Conversely, Gold buyers need a daily candlestick closing above the confluence of the 21-day SMA and the 50-day SMA at $2,667. The next topside barriers are seen at the $2,700 level and Monday’s high of $2,721.
FX_IDC:XAUUSD
by XAUUSDANALYST
Nifty Intraday Levels | 26-NOV-2024Nifty Options Scalping 1️⃣ Zones to Watch: 👉Green Zone: Institutional support 👉Red Zone: Institutional resistance 👉Gap: 100-200 points between zones 👉Zone Creation: Based on pivot points and Fibonacci 👉Chart: Use Nifty futures chart for reference 2️⃣ Trade Execution: 👉Order Flow: Triggers trades 👉Timeframes: 1-min & 5-min for scalping 👉Risk-Reward: 1:2 (Risk 1 to gain 2) 👉Strike Price: ATM or slightly ITM options 👉Position Sizing: Adjust to risk tolerance 3️⃣ Rules: 👉9:15 AM Sharp: Ready for market open 👉Risk Management: Top priority 👉Quick Trades: "Morning breakfast" scalps 👉Stop-Loss: 10 points #ThankU For Checking Out Our IDEA , We Hope U Liked IT 📌 🙏 FOLLOW for more content! 👍 LIKE if you found it useful! ✍️ COMMENT below with your thoughts and feedback
NSE:NIFTY1!
by ReviveTraders
GOLD--> Local trend changing? Will it rise to new ATH?Hi guys, OANDA:XAUUSD after a false breakout at 2700, the price has returned to a correction phase, aiming to consolidate its potential for continuing the trend. In the current situation, the fundamental backdrop is shifting in favor of the metal, which active buyers are pursuing... Gold has not reacted significantly to the previous rally of the dollar, despite hawkish signals from the Fed. The reason for the metal's rise lies in the escalation of tensions following the UK and US allowing Ukraine to use weapons to strike deep into Russian territory. Russia responded with stronger attacks afterward. Fundamentally, these actions make gold a safe haven choice for protecting assets. This week, due to the Thanksgiving holidays in the US, trading volumes are expected to fluctuate sharply at the beginning of the week. Technically, it is predicted that the precious metal could update its ATH this year. However, short-term levels ahead need to be monitored closely. Specifically: Support levels: 2685, 2675, 2650 Resistance levels: 2711, 2733, 2750 Nonetheless, the upcoming resistance levels must be observed, as they are likely to trigger the next move for the metal. The adjustment toward the nearest liquidity zones is expected, but we are not talking about a reversal. The correction could end quickly, and the price is likely to return to an upward phase. The medium-term target is 2731-2750...
OANDA:XAUUSDLong
by Bo-Samson
3
Gold at Resistance : A sell opportunity ?Yesterday, gold traded higher and closed the day in the positive territory . Today, Gold price climbs extending its gains for the fourth straight day. On the Intra day chart, Gold is now trading above weekly Resistance 1 (2653). Technically price is at resistance area and trading near to Fib golden zone , this area is perfect reversal zone but the geopolitical evens (War) currently pushing the price higher , for sell we need good confirmation from these resistance area. Today Initial Jobless Claims are expected to rise from 217K to 220K for the week ending November 16 and that can add volatility so we have to watch the reaction accordingly. Selling seems to be more favourable now for Intra day and for buy we have to look for lower levels but selling need to be assessed with good money management as gold is currently getting safe-haven demand for buyers.
OANDA:XAUUSDShort
by TheGoldenCircle
New Gold Mine in China: Aftershocks in the Gold MarketWhen analyzing the daily gold chart, I noticed that a long-term uptrend has been reversed with a clear break below the rising channel line. This tells me that the market may be preparing for a new bearish phase. This decline occurred even as there was news from the US and other major economies on inflation and monetary policy, which would normally have a strong impact on gold prices. In addition, China's discovery of a gold mine with estimated reserves of over 1,000 tonnes in Hunan province is not only a geological event but could also be a major mover in the global gold market. With gold prices failing to hold the 34 EMA and falling further, the next support area I see is around $2,520 to $2,560/ounce. This will be a key point to see if gold will continue its downtrend.
OANDA:XAUUSD
by Maria_aaa
Gold Trading Strategy for 26th November 2024Gold Trading Strategy: Buy Above 2,644 / Sell Below 2,615 Current Price: 2,625.00 USD Key Levels: Buy Signal: If the price closes above 2,644 on the one-hour candle, it indicates an upward momentum, suggesting a good time to consider buying. Sell Signal: If the price closes below 2,615 on the one-hour candle, it suggests a downward momentum, indicating it might be a good time to consider selling. Support and Resistance Levels: Resistance: 2,660 and 2,679 Support: 2,600 and 2,580 Recommendations: Buy: If the price sustains above 2,644 on the one-hour candle close, consider entering long positions. Book partial profits at 2,655 levels or use a trailing stop loss to protect your profit, with targets at 2,660 and 2,679. Sell: If the price breaks below 2,615 on the one-hour candle close, consider short positions. Book partial profits at 2,600 levels or use a trailing stop loss to protect your profit, with targets at 2,595 and 2,580. Disclaimer: This analysis is for educational purposes only. Always trade with stop-loss and trailing stop-loss to protect your profit and limit your loss. Buy only above the high of the one-hour candle close and sell below the low of the one-hour candle close. Please conduct your own analysis before making any trading decisions.
OANDA:XAUUSD
by ramkkyy