AUY's Inevitable Path to $7Is it finally time to be bullish on gold and silver mining stocks? A lot of indicators are pointing to YES. There will certainly be pullbacks along the way, but with interest rates rising and war tensions overseas, precious metal stocks are beginning to gain a lot of interest. NYSE:AUY will be the perfect example of that.
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GOLD-SILVER
There will be ,,golden‘‘ times coming From a chart technical perspective we are nearly at the highest point of the cyclicality. It’s unbelievable if you recognize how many years it’s costs to stay there where we are.
Anyway, if we see at the fundamentals right now, it doesn’t seems that bad for gold:
- inflation isn’t peaking
- Russia Ukraine could getting more worse (I don’t hope so)
- Gold is hitting 1870$ for several times &
- (If we should gonna get more worse economic datas than gold will more rise)
We are at a level of 1870$ right now. We could nearly hit 1900/1920 (or even more) in middle of march. If the FED will hike the interest rates we are gonna see big pullback to much bigger lower levels like 1720 or 1640. For now…
XAUUSD UpdateGold did it again. Smashed my shorts. Still what happened in the red rectangle does not allow me to interpret the recent development as a bullish move. I keep watching for a turnaround. Though now it is again extremely challenging, and there is no divergence against the RSI.
I remember I hesitated to label the recent abrupt sell-off as 5 wave impulse thinking it was wxy in wave 1 of the leading triangle. I was right about wxy, I was wrong about the leading triangle.
Now I am back to square one, betting on a turn around in gold with no hard evidence so far on 4 hour chart.
Gold - Odds of bullish breakout are increasingGold keeps holding up pretty well despite the prospect of upcoming rate hikes in 2022. It continues its choppy price action within the neutral zone between 1750 USD and 1835 USD. At the moment, it trades slightly below the upper bound of the neutral zone which increases odds of yet another bullish breakout. We noted previously that we expected such breakout to be accompanied by resumption of the uptrend. However, previous breakouts became invalidated shortly after their occurrence took place. Because of that we will pay close attention to price action and we will reassess the situation as developments move forward.
Illustration 1.01
Picture above shows the daily chart of XAUUSD. It also shows the price which has returned back into the upward moving channel. This is bullish development.
Technical analysis - daily time frame
RSI and Stochastic are bullish. MACD is bullish too. Same applies to DM+ and DM-. ADX contains low value which signals that no trend is currently present. Overall, the daily time frame is bullish. However, lack of suggests that price action will continue to be choppy until breakout above the neutral zone or below it takes place.
Illustration 1.02
Picture above depicts the daily chart of XAUUSD and its previous false breakouts and invalidations. We will observe whether gold will manage to break above the resistance at 1835 USD without being invalidated shortly after.
Technical analysis - weekly time frame
RSI and Stochastic are neutral. MACD is bullish. DM+ and DM- are mixed with ADX suggesting the presence of the neutral trend. Overall, the weekly time frame is neutral.
Support and resistance
Main resistance lies at the upper bound of the neutral zone (1835 USD) while main support sits at its lower bound (1750 USD). Other important resistance levels can be found at 1850 USD, 1877 USD, 1916 USD. Other important support levels can be found at 1725 USD, 1700 USD and 1676 USD.
Please feel free to express your own ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Your own due diligence is highly advised before entering trade.
Seasonal Futures Market Patterns Gold & SilverHey traders today I wanted to go over the best Seasonal Patterns in the Gold & Silver Futures Market. Gold & Silver and other precious metal markets follow an annual reliable seasonal pattern due to supply and demand . Knowing when to find these seasonal market patterns on your charts can really benefit us in our trading.
Enjoy!
Trade Well,
Clifford
XAUUSD GOLD Technical Analysis (POTENTIAL BREAKOUT)-Bullish pennant daily chart pattern.
-Long term bullish in gold/commodities with inflation and with potential inflation rated.
-Buy low/Sell high.
-Potential stop loss hunt when the price gets more squeezed closer together. Normally a big explosive move to the upside comes from this.
-I could see a fake-out to the downside and trap a lot of traders then the big money takes the price to the upside.
Gold Update I continue to hold a bearish bias towards gold despite yesterdays recovery and a powerful bounce. Again it is too speculative to label the count. I do not dismiss the idea that whatever is happening now could be a leading diagonal. It is interesting to see how it corresponds to the crypto market. I will cover it in my Weekly Update.
permabullgold going doink doink dooink! in the cup! will we see a new handle?! 2 dayly cycles and back 2000 8-)
Gold UpdateDespite a very impulsive move, gold waves are difficult to count. I even assumed on this chart that the whole move could be wxy in wave 1 of a leading diagonal. There is no divergence on RSI meaning that there should be new lows very soon. At the same time gold can easily rip shorts in a very sharp countertrend move. Gold is notorious for doing wild unexpected swings that only later come together as jigsaw pieces of standard patterns.
I will refrain from labelling the smaller waves so far to let the count reveal itself.
USDOLLAR: BREAKOUT OF BULLISH TRENDLINE? or ANOTHER BULL RUN?Hello Enthusiast Forex Trader! Here's Long-term outlook for USDOLLAR , Support the Channel by smashing the FOLLOW and LIKES Button, then Share your opinion on the Comment Section below :)
*USDOLLAR creates a Descending Broadening Wedge pattern on Daily Timeframe
*USDOLLAR is moving above the Exponential EMA200 and bullish trendline
*Stochastic is pointing up in the neutral area, it could indicate a bullish momentum ahead.
*If the price exceeds the support area, it will invalid the roadmap and USDOLLAR can move in bearish phase/sideways
DISCLAIMER:
This isn't a recommendation to buy or sell currency pairs, only an Outlook from technical perspective.
Markets hint at Major CrashThis review comes from evaluation of prices from multiple markets including Silver, Gold, Bitcoin/crypto and Stocks (specifically sp500)
Silver has increased volume on the daily chart and dropped sharply 3-5%
Gold similarly has sharply dropped with increase volume
SP500 also has plummeted over the past couple weeks.
There is mass exodus in multiple markets across the board with increase volume.
Be on the look out for bull traps preceding further sell off.
This is a speculative review and not advice for trading. The market is not healthy at current levels and most experts would agree. There may be money to be made but it is not by healthy growth which I would consider a poor investment.
HOW-TO: Cosmic Cloud #1📡 INDICATOR
Cosmic Cloud
👩🏫 HOW-TO CONTENT
This how-to shows that even price movement during major events like global market crashes adhere to the indicator levels.
✅ POINTS
the price drop starts after reaching a resistance level (top-left chart) or
the price drop is confirmed by a downward breakout from one of the support levels
the 2020 stock market crash (👑) reaches its lows at various Cosmic Cloud supporting levels
🔔 USEFUL ALERTS
Resistance Channel Re-entry ↓
Basis Test ↓↑
Support Channel Entry ↓
XAUUSD UpdateWell, what I can say. Last stronghold stood. I take yesterdays move as a confirmation of the bearish scenario we maintained since November 2021. See historical posts for the big picture or it is more convenient to read Weekly Updates on the website. Of course, it is too early to throw in a (beer) bear party, we'll keep quiet and watch. Wave i on the chart is only an illustration of the possible roadmap. It can be shallower or deeper, we will label it as soon as it takes shape. It would be good to offload some short before wave 2 kicks in, but we will not make hasty decisions. If the count is right we are in wave c and it can be brutal.
If the price recovers and takes out the previous high - I am out.