GOLD Is Bearish! Sell!
Here is our detailed technical review for GOLD.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 2,777.61.
Considering the today's price action, probabilities will be high to see a movement to 2,730.88.
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.
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Gold-short
GOLD BEARS ARE GAINING STRENGTH|SHORT
Hello, Friends!
The BB upper band is nearby so GOLD is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 2,669.716.
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HelenP. I Gold will drop to trend line, breaking support levelHi folks today I'm prepared for you Gold analytics. If we look at the chart we can see how the price rebounded from the trend line and started to grow and soon reached support 2, which coincided with the support zone. Then it broke this level, made a small movement up, and dropped to the trend line, which broke soon and fell below. But Gold continued to move up below the trend line and soon it broke this line with support 2 one more time, after which made a retest and continued to grow next. Later Gold rose to 2723 points, after which dropped to the trend line and then at once rebounded and rose to support 1, which coincided with one more support zone. Then the price broke this level too and some time traded in the support zone, after which turned around and made a correction movement. After this, XAU turned around and made impulse up, breaking support 1 again. Now, in my mind, XAU will fall to the support area and then break the support level. Then it correct move up and then continues to move down to the trend line. So, that's why I set my goal at 2730 points, which coincides with this line. If you like my analytics you may support me with your like/comment ❤️
GOLD Is Bearish! 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 2,770.874.
Taking into consideration the structure & trend analysis, I believe that the market will reach 2,759.181 level soon.
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.
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GOLD Will Fall! Sell!
Please, check our technical outlook for GOLD.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 2,750.653.
Taking into consideration the structure & trend analysis, I believe that the market will reach 2,660.281 level soon.
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.
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GOLD SELLERS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
GOLD pair is trading in a local uptrend which we know by looking at the previous 1W candle which is green. On the 2H timeframe the pair is going up too. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 2,721.250 area.
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GOLD SELLERS WILL DOMINATE THE MARKET|SHORT
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We are going short on the GOLD with the target of 2,659.028 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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GOLD Will Move Lower! Sell!
Here is our detailed technical review for GOLD.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 2,686.729.
Considering the today's price action, probabilities will be high to see a movement to 2,659.435.
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.
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GOLD BEARISH BIAS RIGHT NOW| SHORT
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Previous week’s green candle means that for us the GOLD pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 2,619.804.
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GOLD BEARISH BIAS RIGHT NOW| SHORT
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GOLD uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 2,655.537 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the GOLD pair.
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GOLD SENDS CLEAR BEARISH SIGNALS|SHORT
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Bearish trend on GOLD, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 2,630.641.
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GOLD Will Move Lower! Sell!
Here is our detailed technical review for GOLD.
Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 2,644.615.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 2,625.451 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.
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GOLD SENDS CLEAR BEARISH SIGNALS|SHORT
Hello, Friends!
GOLD uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 2,592.930 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the GOLD pair.
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GOLD BEARS ARE STRONG HERE|SHORT
Hello, Friends!
Bearish trend on GOLD, defined by the red colour of the last week candle combined with the fact the pair is overbought based on the BB upper band proximity, makes me expect a bearish rebound from the resistance line above and a retest of the local target below at 2,576.872.
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GOLD BEARS ARE STRONG HERE|SHORT
Hello, Friends!
GOLD uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 2,577.407 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the GOLD pair.
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GOLD Will Move Lower! 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 price is testing a key resistance 2,626.558.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 2,600.886 level.
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.
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GOLD Will Fall! Short!
Take a look at our analysis for GOLD.
Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 2,618.93.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 2,576.56 level.
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.
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GOLD BEARS ARE STRONG HERE|SHORT
Hello, Friends!
GOLD pair is in the downtrend because previous week’s candle is red, while the price is obviously rising on the 2H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 2,606.670 because the pair is overbought due to its proximity to the upper BB band and a bearish correction is likely.
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GOLD Is Very Bearish! Short!
Take a look at our analysis for GOLD.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 2,695.926.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 2,617.334 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.
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GOLD BEARS WILL DOMINATE THE MARKET|SHORT
Hello, Friends!
GOLD pair is trading in a local downtrend which know by looking at the previous 1W candle which is red. On the 15m timeframe the pair is going up. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 2,647.359 area.
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GOLD Will Move Lower! Short!
Here is our detailed technical review 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 2,637.581.
Considering the today's price action, probabilities will be high to see a movement to 2,613.313.
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.
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GOLD Will Go Down! 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 2,641.783.
Taking into consideration the structure & trend analysis, I believe that the market will reach 2,628.904 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!