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GOLD MARKET ANALYSIS AND COMMENTARY - [Dec 16 - Dec 20]At the beginning of this week, OANDA:XAUUSD quite strongly from 2,627 USD/oz to 2,726 USD/oz, but then dropped sharply to 2,645 USD/oz and closed the week at 2,648 USD/oz. The reason why international gold prices increased sharply in the first sessions of this week was because investors reacted to the fact that the People's Bank of China (PBoC) returned to buying 5 tons of gold in November after many months of temporarily stopping buying. reserve gold. Even with the six-month hiatus, the PBoC bought 34 tons of gold this year and remains one of the top central banks buying gold in 2024. However, gold currently accounts for less than 6% of China's total foreign exchange reserves. This shows that the PBoC's room to continue buying gold reserves is still very large, especially when US-China tensions are increasingly escalating when President-elect Donald Trump threatens to impose very high tariffs on China. However, after rising to 2,726 USD/oz earlier this week, gold prices once again fell sharply because US inflation remained persistent, affecting expectations of the FED's monetary easing cycle. While the decision on FED monetary policy will receive more attention next Wednesday, the gold market will also receive important economic data that can impact the FED's monetary easing cycle, such as retail sales, revised third quarter GDP of the US... 📌Technically, the gold price still maintains an uptrend on the Daily technical chart, as the price is still above the EMA89 moving average. However, on the H4 chart, the movement of the moving average shows that the price is accumulating sideways, the resistance area to pay attention to is around the 2725 mark, while the important support zone is around the round resistance mark of 2600. In the coming week Many influential information can cause gold prices to fluctuate strongly beyond this sideways range. Notable technical levels are listed below. Support: 2,644 – 2,634USD Resistance: 2,663 – 2,676 – 2,693USD SELL XAUUSD PRICE 2751 - 2749⚡️ ↠↠ Stoploss 2755 BUY XAUUSD PRICE 2579 - 2581⚡️ ↠↠ Stoploss 2575
OANDA:XAUUSD
by Xayah_trading
BONK 4H. Big Swing Ahead. 12/14/24After reaching a local high, the price retraced and moved into a correction phase. During this correction, the support level at $0.003183 was held, indicating bullish sentiment among buyers. It’s worth considering opening a position from the current levels, whether for spot trading or a swing position on futures (with low leverage and a small percentage of your deposit). For those concerned about drawdowns, positions can also be accumulated or added from the support level at $0.003183. Here are my parameters: Entry Point (EP): Current price Take Profit (TP): $0.005553, $0.006426, $0.007446 Stop Loss (SL): $0.002587 But remember: your money — your responsibility! P.S.: I'm aware of the additional zeroes after the decimal; they’ve been omitted for simplicity. All levels are shown on the chart! DYOR.
Long
by trendbooster
PEPE. Smart Money Is Betting Big on PEPE. 12/14/24On December 10th, nine wallets (likely belonging to the same investor) invested 13.8 million DAI to purchase 555 billion PEPE, with an average buying price of $0.000025. I believe that #PEPE is a dark horse that could deliver a major surprise by the end of this cycle. However, always keep in mind the potential scenario where we may drop to retest the mirrored level at any moment. A possible strategy: allocate 25% of your intended investment at the current price and set 2-3 limit orders down to the support level marked on the chart. The target is also indicated on the chart. DYOR.
Long
by trendbooster
2
GOLD corrects, possibility remains optimistic as FOMC is comingOANDA:XAUUSD eased the correction significantly, which was partly due to the market taking profits after gold prices hit a five-week high and rushing to close positions ahead of next week's Federal Reserve meeting. In addition, higher US bond interest rates also affect gold prices. OANDA:XAUUSD fell sharply on Thursday and was limited this trading day (Friday), as of press time, as traders booked profits following the release of US PPI data. PPI data exceeded expectations, suggesting the fight against inflation may be stalling. In addition, the 10-year US Treasury bond interest rate increased slightly by 1.5 basis points to 4.289%, which also put pressure on gold. The US producer price index (PPI) rose higher than expected in November due to soaring food costs. The U.S. Department of Labor reported on Thursday that the U.S. PPI rose 3% year-on-year and 0.4% month-on-month in November. Previous market expectations were 2% .6% and 0.2%. Although Wednesday's US Consumer Price Index (CPI) was in line with expectations, it still rose at a seven-month high. However, gold is expected to hold onto gains this week as optimism grows that the Federal Reserve could cut interest rates by 25 basis points next week. Traders' attention is turning to the prospect that the Federal Reserve may pause policy easing as early as 2025. Lower borrowing costs typically benefit gold because gold itself does not create out yield. According to a report released by the World Gold Council (WGC) on Thursday, gold's gains are expected to slow in 2025 as concerns about growth and inflation during Donald Trump's presidency have can affect the ability to increase the price of gold. Gold prices have risen more than 30% year-to-date and are on track for their biggest annual gain since 1979. The rapid rise has been fueled by the Federal Reserve's easing policy, demand safe-haven demand and continued buying activity by global central banks. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold has corrected but overall it still has all the conditions for a technical upside with price activity outside the channel and above the EMA21 level. Currently, gold's uptrend is temporarily limited by resistance at $2,693, the 0.382% Fibonacci retracement price point, more than the 0.236% Fibonacci level noticed by previous readers. On the other hand, the Relative Strength Index also maintains activity above the 50 level, which should be considered a positive signal for the bullish outlook in the near future. As long as gold remains above the EMA21 and outside the price channel, in the short term it is still likely to increase with notable points listed below. Support: 2,676 – 2,663 – 2,644USD Resistance: 2,693 – 2,700 – 2,730USD SELL XAUUSD PRICE 2706 - 2704⚡️ ↠↠ Stoploss 2710 →Take Profit 1 2699 ↨ →Take Profit 2 2694 BUY XAUUSD PRICE 2659 - 2661⚡️ ↠↠ Stoploss 2655 →Take Profit 1 2666 ↨ →Take Profit 2 2671
OANDA:XAUUSD
by Xayah_trading
2024-12-12 - priceactiontds - daily update - daxGood Evening and I hope you are well. tl;dr dax futures - Neutral. Bulls tried 4 times to push above 20450 and failed. Bears did not take advantage and we printed higher lows. As of now it looks like 20400 is the neutral price for tomorrow but I expect a bigger range to both sides before we settle probably somewhere around 20400 again. Any close at the extremes to either side would surprise me. comment: Clear trading range 20300 - 20500 until we strongly break above or below. For tomorrow I think we can do a retest of the ath 20506 and maybe even a breakout below the channel and test 20350 or lower. I do not expect the week to close to at either extreme. 20400 is the 50% of the current range and the biggest magnet for now. Tomorrow is quad witching. So don’t mess up your trading week getting trapped. current market cycle: bull trend but very late and will end soon key levels: 20000 - 20500 bull case: Market is not finding enough buyers above 20450 but bulls are still eager to not let the market make lower lows. Invalidation is below 20300. bear case: Bears are content with selling 20450 and that’s about it. We are far above the daily 20ema and bears have only printed 2 daily doji bars. That’s as weak as it gets. Higher prices are still possible. Only a daily close below 20k would help their case. On the 1h chart one could argue that we had 3 legs up inside the current bull channel and market is free to test lower but where are the consecutive strong bear bars? Bears are weak. Invalidation is above 20520. short term: Mostly neutral but we are making higher lows and higher highs. Expecting a bigger range for tomorrow but any close above 20500 or below 20380 would surprise me. medium-long term - Update from 2024-12-02: 20000 hit, hope you listened. This market is beyond overvalued and will drop 30-50% in the next 5 years. I have no doubts about that. That fact should not be relevant to your current trading at all. Now it’s about being patient and waiting for the profit taking to start. current swing trade: None trade of the day: Buy low sell high inside range or just don’t trade at all. Atrocious day.
EUREX:FDXSZ2024
by priceactiontds
5
Gold Outlook for December 2024Sticking with my conviction that we have indeed capped the high for Gold for 2024 and have already fulfilled a 30% retracement back into the overall range. We could potentially be ranging for the remainder of the year. I'm anticipating major breakouts within Q1 of 2025. If gold decides to breakout of its current range prior to 2025, then I would be anticipating a buy-side manipulation to take price lower towards the equal lows inside of Q3 of 2024. Let me know if you have any comments or questions below, or just your overall thoughts as well. Bless.
COMEX_MINI:MGCG2025Short
by chaarate
Interest rate expectations and geopolitics still drive GOLDOANDA:XAUUSD corrected after rising sharply as the possibility of the Federal Reserve cutting interest rates next week increased significantly after the release of US CPI data. CME Group's "FedWatch" tool shows traders see a 98.5% chance the Fed will cut another 25 basis points at its December 17-18 meeting, a significant increase from the 86% chance before CPI data is released. The U.S. Bureau of Labor Statistics reported Wednesday that the Consumer Price Index (CPI) rose 0.3% month-over-month and 2.7% year-over-year in November, both in line with market expectations. Economists surveyed by Dow Jones previously expected this number to increase an average of 0.3% month-on-month and 2.7% year-on-year. Excluding food and energy costs, the US core CPI rose 3.3% year-on-year in November and was up 0.3% month-over-month. Economists surveyed by Dow Jones on average expect core CPI to rise 0.3% month-on-month and 3.3% year-over-year. The market is now focusing on today's (Thursday) US Producer Price Index (PPI) data to shed more light on the Federal Reserve's interest rate cut roadmap. Geopolitical news once again boosted OANDA:XAUUSD On the daily chart, gold corrected after approaching the 0.236% Fibonacci retracement level and temporary upside was limited by this technical level. However, in terms of overall structure, the gold price has enough technical conditions to increase after breaking the falling price channel and bringing the main activity above the EMA21 line. Along with that, the Relative Strength Index also rose above 50, which should be considered a positive signal for the bullish outlook of gold prices. On the other hand, gold is likely to open a new bullish cycle when it breaks above the $2,730 level of the 0.236% Fibonacci retracement then the target is the Volume profile POC point, more so the $2,761 level and all-time highs. era established earlier. During the day, the technical outlook for gold is bullish with notable points listed below. Support: 2,700 – 2,693 – 2,676USD Resistance: 2,730 – 2,742 – 2,761USD SELL XAUUSD PRICE 2741 - 2739⚡️ ↠↠ Stoploss 2745 →Take Profit 1 2734 ↨ →Take Profit 2 2729 BUY XAUUSD PRICE 2669 - 2671⚡️ ↠↠ Stoploss 2665 →Take Profit 1 2676 ↨ →Take Profit 2 2681
OANDA:XAUUSDLong
by Xayah_trading
GOLD just passed $2,700, pay attention to CPI dataWednesday (December 11) on the Asian market, OANDA:XAUUSD Spot delivery increased again in the short term. Gold price has just surpassed the important milestone of 2,700 USD/ounce, reaching the highest level of the day as of the time this article was completed at 2,703.65 USD/ounce. Attention is turning to the US consumer price index (CPI) today (Wednesday) and the producer price index (PPI) on Thursday, both data will be important in influencing the Federal Reserve's decision to cut interest rates. According to market surveys, the US Consumer Price Index (CPI) is expected to increase 0.3% in November, with year-on-year increases expected to be 2.7% and 3.3%, respectively. %. Overall and core producer prices in the United States are expected to increase 0.2% month-on-month in November, with year-over-year increases of 2.6% and 3.2%, respectively. CPI data in line with expectations is unlikely to hinder interest rate cuts, but if the data shows inflation progress is slowing, the likelihood of a third consecutive rate cut by the Fed may decrease. The Chicago Mercantile Exchange's "FedWatch Tool" shows that the futures market expects an 86% chance that Fed Chairman Powell and his colleagues will cut the federal funds rate by 25 basis points at their meeting on August 17-18. /12. In addition, gold prices also skyrocketed when the Chinese central bank resumed gold purchasing activities. Meanwhile, the geopolitical situation plays an important role and still has many potential risks after Syrian President Bashar al-Assad was overthrown. Gold is considered a safe investment during times of economic and geopolitical uncertainty and tends to appreciate in low interest rate environments. Analysis of technical prospects for OANDA:XAUUSD On the daily chart, gold has initial conditions for a bullish outlook as it broke out of the falling price channel after a long period of sideways accumulation. On the other hand, the Relative Strength Index also rose above the 50 level, which should be considered a positive signal for the future growth prospects as it will move towards the 75-100 area. With that, EMA21 which was the previous resistance has now become the most notable support. Gold prices are pushed above the original price level of 2,700 USD, keeping price activity above the 0.382% Fibonacci retracement level will provide conditions for a new bull cycle with the target then around 2,730 USD where the Fibonacci retracement is located. 0.236%, more than the Volume Profile POC level. During the day, gold has all the technical conditions to increase in price and is temporarily limited by the original price of 2,700 USD. The notable points will be listed as follows. Support: 2,693 – 2,676 – 2,663USD Resistance: 2,700 – 2,730USD SELL XAUUSD PRICE 2721 - 2719⚡️ ↠↠ Stoploss 2725 →Take Profit 1 2714 ↨ →Take Profit 2 2709 BUY XAUUSD PRICE 2659 - 2661⚡️ ↠↠ Stoploss 2655 →Take Profit 1 2666 ↨ →Take Profit 2 2671
OANDA:XAUUSDLong
by Xayah_trading
1
SOL 6H. Solana Heading to $400 in the Medium Term. 12/12/24The asset price is currently stabilizing within the $222-$204 range, which could serve as a critical support zone. Support is the level where the price tends to bounce back as buyers step in aggressively, holding the price at this level. In the short term, I’m considering a buy position targeting $260, which marks the upper boundary of the current range. For me, this is strictly a near-term goal. In the medium term, I anticipate Solana trading between $300 and $400. To put it clearly and concisely: I expect further growth for #SOL and do not foresee the price dropping below $204. DYOR.
Long
by trendbooster
POPCAT 1D. From Meme to Moon. 12/12/24The market went into the expected correction, but no one anticipated it would happen so quickly. As a result, the technical analysis of traders worldwide was effectively nullified. Those who thought otherwise simply guessed correctly—it's as simple as that. There's no point in justifying or looking for imaginary reasons for this drop. The expected shakeout of retail traders occurred, and we just need to accept it, forget it, and move forward. Given our targets for POPCAT, it's still not too late to invest in this asset. Moreover, your entry point could be better than most. A potential strategy is to invest 50% of your desired volume at the current price and place two additional limit orders of 25% each in the range of $1.0887 - $0.9877. The nearest target is $1.7550. DYOR.
Long
by trendbooster
WIF. A Hidden Gem Ready to Explode! 12/12/24Given the targets we have for WIF, it's still not too late to invest in this asset. Moreover, your entry point could be better than most. A potential strategy is to invest 50% of your desired volume at the current price and place two additional limit orders of 25% each in the range of $2.539 - $2.236. The nearest target is $4.3. Dogwifhat (WIF) is a meme coin on the Solana blockchain. The token is inspired by a photo of a Shiba Inu dog wearing a pink knitted hat. The token's name is a deliberately misspelled phrase "dog with hat." I’ve held onto these "dog coins" on spot for a long time, waiting for the moment when a new ATH would be set. There was a lot of doubt and criticism from other market participants about WIF until now, but not from me. In my opinion, we’re seeing the same scenario play out again, and the outcome will be the same—a new ATH. The correction is only temporary and will soon be forgotten as the unstoppable growth begins. DYOR.
Long
by trendbooster
TNSR 1D. The Next Big Governance Asset on Solana. 12/12/24Tensor Protocol is an autonomous protocol on Solana that NFT marketplaces can use to access deep liquidity and connect their users with other NFT traders. Tensor.trade, the leading NFT trading platform on Solana, is built on the Tensor Protocol. TNSR is the governance token of the Tensor Protocol. TNSR holders can vote on proposals related to protocol development, including the use of the community budget. Currently, the entire market is in correction, offering excellent opportunities to find new entry points. The project is quite promising, with significant growth potential. Even from the current levels, a 2x return is realistic. A potential strategy is to invest 50% of the desired volume at the current price and place two additional limit orders of 25% each in the range of $0.6269 - $0.5454. The nearest target is $1.3412. DYOR.
Long
by trendbooster
2024-12-11 - priceactiontds - daily update - wti crude oilGood Evening and I hope you are well. tl;dr wti crude oil futures - Neutral. Having a hard time being bullish inside trading ranges and unexpected moves higher. Volume is utter trash and yet market broke above last weeks high and the bear trend line. Bulls want 71 next but I would not be surprised if we go down to 68 or even 67 again. comment: Daily chart shows the trading range which is still contracting but the very small break above last weeks high is a start for the bulls. Buying at previous resistance inside a trading range is always a bad trade. I’d rather wait if bulls come around big time on a pullback and see if it has strong momentum and can break above 70.5. current market cycle: trading range key levels: 67 - 71 bull case: Bulls made a small higher high and now want 71 next. The rally is not particularly strong and the volume is also atrocious. I don’t have many arguments for the bulls here. Invalidation is below 66.27 bear case: Bulls have not printed more than 2 consecutive bull bars for almost 2 months now. Bears see that, previous resistance 70.5 from last week and still a bear trend line close enough. They have much more reasons to sell this, than bulls have for buying it. Invalidation is above 70.6. short term: Neutral. I wait for one side to gain momentum again but my bar for the bulls is higher than for the bears. I don’t have an opinion on where this goes next. For me it’s 50/50 if we go down to at least 69 or higher to 71. medium-long term - Update from 2024-11-10 : Unless an event comes up, this will very likely close around 70 for the year. current swing trade : Nope trade of the day: Tough. Long was obviously right but there were so many trend lines that could have been resistance, it was much more reasonable to not take the longs than to hope for a breakout above multiple trend lines.
NYMEX:MCL1!
by priceactiontds
2024-12-10 - priceactiontds - daily update - nasdaqGood Evening and I hope you are well. nasdaq e-mini futures comment: Beautiful bear channel and you should trade it until it’s clearly broken. We are going down but it’s weak selling. Bears barely get lower prices, even on increased volume. Means that there is also much scaling into longs for probably another big leg up. current market cycle: Bull trend - very late and we are in the very last stage of it key levels : 21000 - 21700 bull case: Bulls are keeping the market two sided, since the channel is shallow. Market closed only 80 points lower than yesterday. As long as bulls have strong pull backs in between, they are fine and they can scale into longs and make money. Bears have to take profits at new lows in fear of another big pull back higher. That is why we are mostly moving sideways, despite making lower lows and highs. Invalidation is a daily close below 21000. bear case: Bears are trying on increased volume but they are not doing enough damage to the bulls, to make more cover or prevent them from buying new lows. Bears can’t sell 21400 because we can easily test back up to the top of the channel. If bears are strong, they will keep it below 20500 tomorrow but I highly doubt that. I do think the high 21606 will hold. Trade the channel. Invalidation is above 22000. short term: Bullish for 21500ish. Maybe 21530. I favor one or two more legs down before Friday’s close. As of now with the structure we have, I can only imagine that we will see another full melt up from next week into year end. Maybe 22000. If this closes 2024 below 21000, consider me surprised big time. medium-long term: Will update this over the weekend. 22000 is a possibility but a bit far for now. Daily close above 20500 would bring it in play. First target for Q1 2025 is 19000. current swing trade: Nope trade of the day: Selling near 21600 was perfect. Bears showed strength in that area and once we broke below 21540, market never looked back.
CME_MINI:MNQ1!Long
by priceactiontds
2024-12-10 - priceactiontds - daily update - goldGood Evening and I hope you are well. tl;dr gold - Bullish but only until 2740ish. Bulls broke strongly above 2700 and the triangle is dead. Next stop is previous resistance around 2743. I do expect a pullback first, since the channel is obvious. Chart shows the preferred way for me. comment : Bulls are in control again. My chart is very clear, so I won’t try to make stuff up in here. 2678 should not be broken again and next target for the bulls is 2743ish. I expect a pullback down to 2710 or even 2700 before another leg up. If we break above the current channel, we will likely print 2800 before end of Friday. current market cycle: trading range key levels: 2680 - 2745 (above that is 2800 next) bull case: Chart tells the whole story for the bulls. Don’t make this more complicated as it is. Any pullback below 2710 is a decent buy with stop 2678. Invalidation is below 2678. bear case: Bears gave up once they could not reverse the market below 2670 again after y close and the early test down to 2683 in the EU session. Invalidation is above 2745. short term: Bullish. Look for longs near the lower channel line or 1h 20ema. medium-long term - Update from 2024-11-24: Likely to close 2024 above 2800 but I do think the recent selling was the first hint that we will transition into a trading range soon. current swing trade: None trade of the day: Buying the double bottom near 2680.
COMEX_MINI:MGC1!Long
by priceactiontds
Price Gap Examples - Bitcoin FuturesSharing for educational purposes only. █ Three Types of Gaps There are three general types of gaps: Breakaway Gap Runaway (or Measuring) Gap Exhaustion Gap █ 1 — The Breakaway Gap The breakaway gap usually occurs: At the completion of an important price pattern. At the beginning of a significant market move Examples: After a market completes a major basing pattern, the breaking of resistance often involves a breakaway gap. Breaking major trendlines signaling a reversal of trend may also involve this type of gap Key Characteristics: Heavy volume often accompanies breakaway gaps. They are typically not filled (or only partially filled). In an uptrend, upside gaps act as support areas on subsequent corrections. A close below the gap is a sign of weakness. █ 2 — The Runaway or Measuring Gap The runaway gap forms: Midway through a trend (uptrend or downtrend). Indicates the market is moving effortlessly, usually on moderate volume. Key Characteristics: In an uptrend, it signals strength. In a downtrend, it signals weakness. Acts as support or resistance during subsequent corrections. Why "Measuring" Gap? It often occurs at the halfway point of a trend. By measuring the distance the trend has already traveled, the probable extent of the remaining move can be estimated by doubling the amount already achieved. █ 3 — The Exhaustion Gap The exhaustion gap appears: Near the end of a market move. Key Characteristics: Occurs after objectives have been achieved and other gap types (breakaway and runaway) have been identified. In an uptrend, prices leap forward in a final push but quickly fade. Within a couple of days or a week, prices turn lower. █ Conclusion By understanding the types of gaps and their characteristics, traders can better interpret market signals and anticipate potential trends or reversals. █ Source: Murphy, John J. Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications. New York Institute of Finance, 1999. Chapter 4, "Price Gaps," pp. 94-98.
CME:BTC1!Education
by kingthies
1