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GOLD Will Go Down From Resistance! Short! Here is our detailed technical review for GOLD. Time Frame: 1h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 3,118.23. The above observations make me that the market will inevitably achieve 3,093.41 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. Like and subscribe and comment my ideas if you enjoy them!
TRADENATION:XAUUSDShort
by SignalProvider
1
GOLD Will Go Lower From Resistance! Sell! Take a look at our analysis for GOLD. Time Frame: 2h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is on a crucial zone of supply 3,028.74. The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 2,994.67 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. Like and subscribe and comment my ideas if you enjoy them!
TRADENATION:XAUUSDShort
by SignalProvider
2
GOLD Is Very Bearish! Sell! Please, check our technical outlook for GOLD. Time Frame: 3h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The price is testing a key resistance 3,023.60. Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 2,981.07 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. Like and subscribe and comment my ideas if you enjoy them!
TRADENATION:XAUUSDShort
by SignalProvider
1
GOLD Is Bearish! Sell! Here is our detailed technical review for GOLD. Time Frame: 9h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 2,913.555. The above observations make me that the market will inevitably achieve 2,859.750 level. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
OANDA:XAUUSDShort
by SignalProvider
1
HelenP. I Gold will continue to decline and break support levelHi folks today I'm prepared for you Gold analytics. Looking at this chart, we can observe how the price dropped to the trend line before starting an upward movement. In a short period, Gold climbed to the support level, which coincided with the support zone, even briefly breaking through it. After a retest, the price resumed its upward trajectory. Later, Gold reached the resistance level, which aligned with the resistance zone, and even entered this area before making a corrective move. It then returned to the resistance zone, went through another correction, and quickly pushed back into the same area, breaking the resistance level in the process. Gold traded above the resistance zone for a while before reversing and starting to decline. Soon after, the price fell to the support level, breaking through the 2915 mark along with the trend line. However, not long ago, XAU changed direction and started climbing again. In my view, XAUUSD is likely to rise a bit further before resuming its downward movement. If it reaches the support level, there’s a possibility of a breakout, leading to further declines. With this in mind, my target is set at 2800 points. If you like my analytics you may support me with your like/comment ❤️
OANDA:XAUUSDShort
by FirstNameHelen
6
GOLD Is Going Down! Short! Please, check our technical outlook for GOLD. Time Frame: 4h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a key horizontal level 2,936.271. Considering the today's price action, probabilities will be high to see a movement to 2,899.545. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
OANDA:XAUUSDShort
by SignalProvider
1
GOLD Will Go Down From Resistance! Short! Please, check our technical outlook for GOLD. Time Frame: 1h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 2,801.13. Taking into consideration the structure & trend analysis, I believe that the market will reach 2,788.28 level soon. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
FOREXCOM:XAUUSDShort
by SignalProvider
1