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Gold’s weekly outlook: May 04-08Gold had a red bar after a gap of 3 weeks mainly on account of retracement as there seems no cause for the yellow metal to show any weakness in this unfortunate time which is daily drying up population worldwide. With the economies shut all around and most of the Governments providing stimulus (The main focus being the Fed with unlimited QE) the demand for gold keeps on increasing as the central banks keep on printing money. Only drawback which may hurt the prices to some extent is the phased reopening which many countries are now trying but situation wont improve soon keeping this negativity in check. To watch next week – BOE meeting and other important economic data. On the chart – Gold had a mild correction after a monstrous $250 rally mostly on hopes of economies reopening and restarting activities. With the virus still showing no signs of retreating, its very difficult for the world to get in order which should keep the prices bullish. Fundamentals and technicals both strongly support the bullishness and currently its hard to find a chink in the armor of gold bulls. We have 2 scenarios – 1. Gold closed above the support, till this is held it can go to $1716. If this is crossed it can move towards $1727. And if this is taken out it can rally to $1740. 2. Short trades remain highly unattractive in this bullish environment except scalp trades. Bullish view – Bulls took a breather after having a $250 plus rally but the closing remains supportive for further uptrend as both technical and fundamentals stay in favor of them. For bulls to remain in the driving seat they need to protect the lows while aiming for fresh highs which will keep 1800 plus in closer sight. Bearish bets still remain out of context. On larger terms, Gold remains bullish and prices are expected to head higher. Possible trades are on both sides but mainly on upside, gold can be bought above $1704 for the targets of $1716 and $1727 with a stop loss placed below $1685. Longer term target $1740. Dips towards support (and breakout region) can be used to create longs for the above mentioned targets. Shorts can be useful for scalp trades only.
TVC:GOLDLong
by vanimator
4
Why gold’s little sister is becoming more attractiveWhen the Fed cut interest rates – it was GREAT for Silver! On Sunday, 15 March 2020, the Federal Reserve finally cut the interest rates to zero percent… They also announced they would purchase $700 billion in bonds and securities to try and stabilise the financial markets amidst the COVID-19 era… Now when the Fed decides to cut interest rates, this makes it more attractive for traders and investors to pile their money into precious metals like silver and gold… This is because lower interest rates mean, there’ll be lower returns for investors from savings, banks and even trust funds. Instead, investors tend to withdraw their money from low yielding assets, and deposit it into more rewarding financial markets. This means, they’ll more likely invest in safe havens such as gold, silver and even crypto-currencies, which will drive the prices up… Now going back to why I’m telling you this now… At the time the silver price was trading at under $13 an ounce… And as soon as the Fed cut the interest rates, I wrote in my excel note book. “15 March 2020 - The US has just slashed their interest rates to zero. This means we can expect a rally in gold and silver in the next month or two…” One month later, the silver price went above $15.00 an ounce. I know you might think that the rally has happened and that now I’ve missed out on the opportunity... But if you’ve been following my predictions for the last decade you’ll know this… I never just jump in and pile money into precious metals as soon as an announcement comes out. Instead, I wait for confirmed upside according to my charts, before I get in and ride the rest of the rally when it comes. In fact, it looks like this 15% rise is just the start, and I now expect silver to run another 22% in the next few weeks as investors pile into the metal… Silver will rally because of investors In the real economy, silver is mainly used in two main industries: jewellery and industrial (electronics, solar panels etc…) And this year, we’ve seen a huge collapse in consumption as jewellery stores remain closed and mines remain inactive… With the global slowdown from the COVID-19 pandemic, leading to a drop in industrial silver demand, this most likely will lead to the silver price falling from $18.80 in January down to $12.29 in March… However, since the interest rates have been cut – there’s been an increase in buying of silver futures and ETFs... In fact, according to the latest research from the Silver Institute, investment demand will drive prices higher in 2020… Even Commerzbank said retail investors, rather than institutional ones, tend to buy silver and silver ETFs. “So from this side, there should not be much selling pressure on silver,” They also mentioned: “The silver market is small so it doesn’t take a lot of money to really push prices higher,” And so with silver acting as a precious metal and a safe-haven once again for investors, the charts agree with the upside to come… Regards Timon Rossolimos Founder, MATI Trader
TVC:SILVERLong
by Timonrosso
SILVER - new impulse wave downAs we predicted in the post of April 16, Silver is developing its downtrend path to newer lows. Minute wave ii has retraced 50% of minute wave i, which can signalise the end of the counter-trend move or just very near for this. The next move will be minute wave iii from Minor wave 3 and because of this we may see good strength down soon. The first stop before continueing down should be at around the most probable target at 13.58. If prices crosse sup 15.51 we may revise this analysis. FOLLOW SKYLINEPRO TO GET UPDATES.
TVC:SILVERShort
by SkylinePro
Uranium: Target 1 reached, Pullbacks should be bought!Taret 32$ reached in Uranium. It is showing a lot of strength. Next target is 40$, but a retracement lower is possible, altough very hard to predict what the next move is. The last bull market in uranium was 20 years ago in the year 2000. And i think this is the start of the new bull market . Entering early will prove highly rewarding in the future. The break-even point to mine uranium is 60$. now we are at 32$ .. Uranium is still an intrinsic part of our electrical systems. If you believe turning your lights on in 5 years, you believe in 60$ uranium. wich means a 100% rise, and for the miners them selves we are looking for at least 150%! Altough hard the say. At the peak of this bull market in Uranium, some miners can have a Return Of Investment of 200 to 400%!!! If you like my ideas: Like, follow, subscribe..
ULong
by leamese
XAU / USD ANALYSIS - BEST PICK IN A CRISIS!In the 4-hour chart we see how the moving average lines have been placed downwards after crossing the 100-SMA line, above the 200-SMA line, indicating an upward trend. Added to this is the stochastic, which points to an upward trend in the medium term given a rise above the overbought level, accompanied by a MACD that remains positive with a crossing of its lines. If XAU / USD manages to consolidate above $ 1,700 an ounce, we could again see a bullish push, continuing to create new 7-year highs. Still, short-term indicators indicate overbought, which could result in a cyclical correction on the upside. A key novel to monitor will be the psychological barrier of $ 1,700, as a drop below could again attract sellers. Current price action shows some hesitation on the part of investors, but a push above $ 1,754 will reinforce the presence of buyers. If this creates enough momentum, it could jump to $ 1,800, a level that has not touched since September 2011. I always recommended that the best commodity to hold in a crisis is gold and we can see really big profits to my followers! (Look the chart of the past) Many thanks and happy profits! Regards,
OANDA:XAUUSDLong
by aleex5893