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Goldfutures

Gold Futures (GOLD1!), H1 Potential for Bearish ContinuationType : Bearish Momentum Resistance : 50877 Pivot: 50577 Support : 50290 Preferred Case: On the H4, price is moving below the ichimoku cloud and breaking from the ascending channel which supports bearish bias that price will drop from our pivot at 50577 in line with the overlap resistance to the 1st support at 50290 in line with the pullback support, 161.8% fibonacci extension and 61.8% fibonacci retracement. Alternative scenario: Alternatively, price may break through pivot structure and rise to the 1st resistance level at 50877 in line with the overlap resistance . Fundamentals: Due to increasing inflation rates in the US,UK and other developed economies, we have a bullish view on the precious metal.
MCX:GOLD1!Short
by Genesiv
GC Gold WARNING: next 3 very impt supportsGold update from the previous post where I said gold may go to 1800 or even 1760. As predicted, the bounce from 1800 was short-lived & GOLD is barely holding 1833, the 0.618 Fib level. This time it falls, 1800 may not hold anymore. These are the 3 next impt supports: 1) 1760 is an impt pivot & also near the trendline from 2018. Breaking below the 1800 to 1760 zone may void the CUP & HANDLE move. 2) 1677 is the neck of the big M-pattern started since 2019 & is also the base of 2 bottom consolidation boxes in 2020 & 2021 which makes it a very strong support. This is a 20% drop from 2078 ATH. 3) 1450 is the MAX PAIN support at a 2006 TL. This may also be the Fib level where the big M-pattern finally completes. This is a 30% drop. Watch the DXY dollar index very carefully as this scenario will play out only if DXY continues to go up. DXY seems to be bouncing from 100 to make new highs in line with the FED tightenning raising rates & the upcoming QE. Not trading advice
COMEX:GC1!Short
by xtremerider8
Gold (GOLD1!), H1 Potential for Bearish bounceType : Bearish Continuation Resistance : 51102 Pivot: 50844 Support : 50563 Preferred Case: With price breaking the ascending channel and MACD having a bearish momentum, we expect prices to break through the ichimoku cloud. Also, we have a bearish bias that price will drop to our 1st support at 50563 in line with the 161.8% fibonacci extension, 38.2% fibonacci retracement and horizontal overlap support from our pivot at 50844 in line with the horizontal pullback resistance. Alternative scenario: Alternatively, price may break pivot structure and head for 1st resistance at 51102 in line with the pullback resistance. Fundamentals: Due to increasing inflation rates in the US,UK and other developed economies, we have a bullish view on the precious metal.
MCX:GOLD1!Short
by Genesiv
XAUUSD Potential for bullish momentum | 24th May 2022With prices moving above the ichimoku cloud, we have a bullish bias that price will rise from our buy entry at 1853.94 where the horizontal overlap support is to our take profit at 1884.14 in line with the horizontal swing high resistance and 78.6% Fibonacci retracement. Alternatively, price may break entry structure and head for stop loss at 1832.57 where the horizontal overlap support, 38.2% fibonacci retracement and 61.8% fibonacci projection. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
FOREXCOM:XAUUSDLong
by Rockqet
Gold (GOLD1!), H1 Potential for Bullish bounceType : Bullish Bounce Resistance : 51260 Pivot: 50862 Support : 50579 Preferred Case: With prices moving above our ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance at 51260 in line with the 127.2% Fibonacci extension and overlap resistance from our pivot of 50862 in line with the 23.6% Fibonacci retracement and horizontal overlap support. Alternative scenario: Alternatively, price may break pivot structure and head for 1st support at 50579 in line with the horizontal overlap support and 38.2% fibonacci retracement . Fundamentals: Due to increasing inflation rates in both the US and UK, we have a bullish view on the precious metal.
MCX:GOLD1!Long
by Genesiv
Gold (GOLD1!), H1 Potential for Bullish bounceType : Bullish Bounce Resistance : 51260 Pivot: 50862 Support : 50579 Preferred Case: With prices moving above our ichimoku cloud , we have a bullish bias that price will rise to our 1st resistance at 51260 in line with the 127.2% Fibonacci extension and overlap resistance from our pivot of 50862 in line with the 23.6% Fibonacci retracement and horizontal overlap support. Alternative scenario: Alternatively, price may break pivot structure and head for 1st support at 50579 in line with the horizontal overlap support and 38.2% fibonacci retracement. Fundamentals: Due to increasing inflation rates in both the US and UK, we have a bullish view on the precious metal.
MCX:GOLD1!Long
by Genesiv
GOLD got my May11 target of 1800 & bounced; 1760 destination?Update of my 11May post that gold will fall to 1800 if 1833 does not hold. It bounced from 1800 but this may not last if DXY dollar index continues higher. GC1 gold futures is doing a M-pattern & may retrace to 0.786 FIBO back down to 1760. However, if DXY dollar tops out & retrace to 100 or 97, gold will be able to hold 1800 & rally back to 1920/1900 neck of M-pattern or even 2000. Worst case scenario is 1670 although very unlikely considering a lot of funds will hedge against inflation. Gold must hold the 1800 to 1833 zone to stay above a BIG WEDGE from 2020 & to remain bullish. Otherwise the odds increases that the ultimate bottom of wedge at 1670 may be retested. Not trading advice
COMEX:GC1!Long
by xtremerider8
Gold: Direct Route or Detour?Gold has extended its visit in the green zone between $1814 and $1847 and has reached its upper edge. Here, gold has finished wave 4 in green and should turn downwards to head for the orange zone between $1707 and $1657. There, it should complete wave 5 in green as well as wave iii in orange and start a countermovement in the course of wave iv in orange afterwards. There is a 40% chance, though, that gold could overshoot the green zone and make a detour above the resistance at $1921 before resuming the descent.
COMEX:GC1!
by MarketIntel
GOLD to retest 1760 pivot after breaking TL @1833 & 1800(0.854)After rejected by 2000 level, GOLD is making a M-pattern & has retraced pass 1800, a 0.854 Fib level. It has broken the diagonal Trendline @ 1833 (0.786 Fib level). It is very likely that GOLD will go down to retest 1760 pivot (100% retracement) where it has bottomed multiple times before. 1760 will also be a 0.786 retracement of the entire rally from 1677 Aug2021 bottom to 2078 the Mar2022 Top. Going lower towards 1677 to retest a trendline from 2019 will make wave 4 a regular flat. It is essential that 1677 must hold or else there will be a lower low after the 2078 slightly lower high or almost equal high. Breaking 1677 will mean a total 20% crash from ATH & that will put gold at the doorstep of a bear market correction. The next supports are way down at 1450/1500 (retesting a longterm Trendline from 2006) & 1170. Not trading advice
COMEX:GC1!
by xtremerider8
Gold 4 hour : buy PINbar comes in 1hour and 4hour technical say now gold is in lowest low , going to start + trend , now you can pick buy with SL in yesterday low,pinbar low) dont close your buy sooner than red line ,fibo 61% near 1940 (it can go to 2000) good luck , use very low size (1000$ balance max 0.02 lot =20$) in my pervious analyse , many trader dont read my comment , inter buy suddenly , you must read comment word by word , witoyt hurry up NOTE= always , in all my analyse when i give buy place ,dont inter buy , you must wait OK comes (OK= 1- in 15 min chart ,price break last upper trendline to up or 2- pinbar comes in 1hour or 4hoyr or daily ,,,, SL = last low in 4hour) sell is reverse of above in your all other trades , use OK too , you inter little late ,but is very safe,lower risk , higher winrate
FX:XAUUSDLong
by ramin_trader2006
6
Gold, close to confirming new leg lower?Things have taken a turn back to safe havens with heavy selling resuming into today’s European session. After a small push at a fightback, the floodgates reopened. Stock indices and Crypto markets have been the heaviest hit, with some coins dropping over 11% lower. Sellers haven’t overlooked Gold as sellers moved back into the yellow metal knocking back below 1862. We see a little bit on-demand around this area, but this may not offer much resistance if this level of selling continues. For now, price looks to have confirmed a LH, but will we see a new LL continuing the current trend with a new point of normal trend behaviour. Furthermore, a move below the trendline would also be a sign that the current fast downtrend controls the market. A lot will come down to USD demand and continued exit from risk assets as US recession fears continue.
OANDA:XAUUSDShort
by Eightcap
Gold: On the PlaygroundWhen was the last time that you have been on a playground? Gold seems to have rediscovered its inner child and is making use of the slide in the form of our red arrow leading into the orange sandbox between $1707 and $1657. There, gold should finish wave iii in orange and jump up afterwards to start a countermovement in wave iv in orange. There is a chance, though, that gold could leave the slide early and rise into the upper orange zone between $1921 and $1974 before resuming its descent.
COMEX:GC1!
by MarketIntel
Gold futures, H4 | Potential for further bullish continuationTitle: Gold futures, H4 | Potential for further bullish continuation! Type: Bullish bounce Resistance : 1975.4 Pivot: 1952.8 Support : 1943.0 Preferred case: Prices are on bullish continuation. We see the potential for further bullish continuation from our Pivot at 1952.8 in line graphical overlap and 38.2% Fibonacci retracement towards our 1st resistance at 1975.4 in line with 61.8% Fibonacci Projection. Prices trading above our ichimoku cloud support. Alternative scenario: If prices were to reverse, they can potentially reach our 1st support at 1943 in line with 50% Fibonacci retracement. Fundamentals: With continuation of Russo-Ukraine invasions and inflation , we might expect a bullish turn towards the precious metal.
COMEX:GC1!Long
by Genesiv
Title: Gold futures, H4 | Potential for bounce!Type: Bullish bounce Resistance : 1950.6 Pivot: 1921.5 Support : 1915.8 Preferred case: Prices are consolidating in a triangle pattern . We see the potential for further bullish continuation from our Pivot at 1921.5 in line graphical overlap and 61.8% Fibonacci retracement towards our 1st resistance at 1950.6 in line with 127.2% Fibonacci Projection . Our bullish bias is further supported by RSI being on bullish momentum. Alternative scenario: If prices were to reverse, they can potentially reach our 1st support at 1915.8 in line with 78.6% Fibonacci projection . Fundamentals: With continuation of Russo-Ukraine invasions and inflation , we might expect a slight bullish turn towards the precious metal.
COMEX:GC1!Long
by Genesiv
Gold Futures (GC!), H4 Potential for Bullish bounce! Type: Bullish bounce Resistance : 1959.0 Pivot: 1921.0 Support : 1910.2 Preferred case: Prices have recently broken out of our descending trendline. We see the potential for further bullish continuation from our Pivot at 1921.0 in line graphical overlap and area of Fibonacci confluences towards our 1st resistance at 1959.0 in line with 61.8% Fibonacci Projection . Our bullish bias is further supported by RSI being at levels where bounces previously occurred. Alternative scenario: If prices were to reverse, they can potentially reach our 1st support at 1910.2 in line with 61.8% Fibonacci projection . Fundamentals: With continuation of Russo-Ukraine invasions and inflation, we might expect a slight bullish turn towards the precious metal.
COMEX:GC1!Long
by Genesiv
Gold Futures (GC!), H1 Potential for Reversal! Title: Gold Futures (GC!), H1 Potential for Reversal! Type: Bullish reversal Resistance : 1965.9 Pivot: 1933.7 Support : 1921.3 Preferred case: Prices have consolidated in an inverse head and shoulders pattern. We see the potential for a bounce from our Pivot at 1933.7 which is the break of the inverse head and shoulders neckline towards our 1st resistance at 1965.9 in line with 127.2% Fibonacci Projection. Our bullish bias is further supported prices trading above our ichimoku clouds. Alternative scenario: If prices were to reverse, they can potentially reach our 1st support at 1921.7 in line with 38.2% Fibonacci retracement. Fundamentals: With gradual settlement of war-negotiations, we might expect a slight bearish turn towards the precious metal.
COMEX:GC1!Long
by Genesiv
Title: Gold Futures (GC!), H1 Potential for Dip!Title: Gold Futures (GC!), H1 Potential for Dip! Type: Bearish reversal Resistance : 1933.7 Pivot: 1927 Support : 1895.2 Preferred case: Prices have recently broken out of our descending trendline. We see the potential for further bearish continuation from our Pivot at 1927 in line graphical overlap and area of Fibonacci confluences towards our 1st support at 1895.2 in line with 100% Fibonacci Projection. Our bearish bias is further supported prices trading below our ichimoku clouds. Alternative scenario: If prices were to reverse, they can potentially reach our 1st resistance at 1933.7 in line with 78.6% Fibonacci projection. Fundamentals: With gradual settlement of war-negotiations, we might expect a slight bearish turn towards the precious metal.
COMEX:GC1!Short
by Genesiv
GOLD FUT- W1 - EN ROUTE FOR 2'161 !FIRST BREAKOUT ON A WEEKLY CLOSING BASIS OF THE DOUBLE BOTTOM TRIGGER LEVEL @ 1'919 (WEEKLY CLOSING WAS 1966.60) PULLBACK ON RSI HOLD AND RECOVERED; currently above 50 @ 68.21 LAGGING LINE ABOVE FORMER HIGH = positive signal too On the downside the first support to look at is at 1'878 (TS) ahead of 1'848 (KS) and MBB @ 1'827 which is also the top of the weekly clouds support zone (weekly clouds range from 1'827-1'778) Warning ! Despite this weekly positive picture, watch carefuly the daily price action which is showing a RSI bearish divergence and which could trigger some short term downside correction, potentially towards the daily TS currently @ 1'928 IRONMAN8848 & Jean-Pierre Burki
COMEX:GC1!Long
by Ironman8848
1
Title: Gold Futures (GC1!), H4 bullish continuation! Type : Bullish continuation Resistance : 1942.4 Pivot: 1890.8 Support : 1879.9 Preferred case: Prices are on bullish momentum and abiding to our ascending trendline support. We see the potential for a bounce from our Pivot at 1890.8 in line 100% Fibonacci retracement towards our 1st resistance at 1942.4 in line with 61.8% Fibonacci Retracement. Our bullish bias is further supported RSI being at levels where bounces previously occurred and prices trading above our ichimoku clouds. Alternative scenario: If prices were to reverse, they can potentially dip towards our 1st support at 1879.9 which is a graphical swing low and also in line with 127.2% Fibonacci extension and 50% Fibonacci retracement. Fundamentals: Upon completion of the first round of talks between the warring countries, amid hostilities from both sides, is likely to see the precious metal in consolidation mode pending the development on the Moscow-Kyiv battles, both on and off the fields. As the situation remains fluid, we would reccomend investors to remain on the sidelines.
COMEX:GC1!Long
by Genesiv