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Newmont Corp | NEM | Long at $48.00While gold prices have soared recently, gold mining stocks have lagged. Newmont Corp NYSE:NEM , the world's largest gold mining corporation, may be undervalued if the miners take off to catch up to the gold demand/price. Currently sitting near $48.00 and at a historical moving average that it will need to break to show a true trend reversal, NYSE:NEM is in a personal buy zone. Now, the price may break down at the simple moving average and test the patience of shareholders, but the long game may benefit those who can tolerate the volatility. Target #1 = $57.00 Target #2 = $71.00
NYSE:NEMLong
by WorthlessViews
Gold Futures Poised for Gains as Uptrend Stabilizes Above 2428Gold Futures Rise as Long-Term Outlook Remains Positive Technical Analysis: Gold Current Outlook: Stabilization above 2428 means an uptrend toward 2450 and 2466 due to the high bullish volume with a correction till 2428 Bullish Scenario: The price will touch 2450, and then should break 2450 to be a bullish trend till 2466, Bearish Scenario: Stabilization below 2450 could support a decline to 2428 Key Levels: - Pivot Line: 2444 - Resistance Levels: 2454, 2466, 2475 - Support Levels: 2428, 2420, 2397 Today's Expected Trading Range is between 2428 and 2466 Tendency: Bullish trend above 2428
OANDA:XAUUSDLong
by SroshMayi
Gold Buys!!! ### **Analysis:** - The chart shows a bullish scenario where the price has broken out above a descending trendline, indicating a potential reversal to the upside. - The price has retraced to the 0.618 Fibonacci level around 2,440, a strong area of support that aligns with the 200 EMA (black line). - The 50 EMA (red line) is turning upwards, suggesting bullish momentum is building. - There is a clear bullish flag or pennant pattern forming, which typically precedes a continuation of the uptrend. ### **Trade Idea:** **Direction:** Buy (Long) #### **Entry:** - **Buy Entry:** Consider entering a long position around the current price level of 2,440, as it is bouncing off the 0.618 Fibonacci level, which is a strong support zone. #### **Stop Loss:** - **Stop Loss:** Set the stop loss just below the 0.5 Fibonacci level and the recent swing low around 2,429.60. This area should provide enough room for the trade to develop while protecting against a potential reversal. - **Stop Loss Price:** 2,429.60 #### **Take Profit:** - **Primary Target (TP1):** The first take profit target can be set at the 0.786 Fibonacci level around 2,457.13. This aligns with the next resistance level. - **Secondary Target (TP2):** The ultimate target is set at the 1.618 Fibonacci extension around 2,537.83, which represents a significant bullish continuation. #### **Price Levels:** - **Entry:** 2,440.00 - **Stop Loss:** 2,429.60 - **Take Profit 1:** 2,457.13 - **Take Profit 2:** 2,537.83 ### **Conclusion:** - **Buy:** Enter long around 2,440 with targets at 2,457.13 and 2,537.83. - **Risk Management:** Ensure that your position size is appropriate for your risk tolerance, aiming for a favorable risk-reward ratio of at least 1:2. This setup is based on the technical indicators and patterns observed in the chart. It's essential to monitor the trade closely, especially around key support and resistance levels, and adjust your strategy as the market evolves.
OANDA:XAUUSDLong
by Sthesh_Don_Billiato
Buy Gold (Xau/Usd) Channel BreakoutThe XAU/USD pair on the M30 timeframe presents a potential Buying opportunity due to a recent downward breakout from a well-defined Channel pattern. This suggests a shift in momentum towards the Upside in the coming Hours. Key Points: Buy Entry: Consider entering a Long position around the current price of 2394, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 2470 2nd Support – 2500 Stop-Loss: To manage risk, place a stop-loss order below 2362. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
OANDA:XAUUSDLong
by KABHI_TA_TRADING
49
Gold Rally – With Rate Cuts Near ✍️ NOVA hello everyone, Let's comment on gold price next week from 8/12 - 8/16/2024 🔥 World situation: Gold prices continued to rise for the second consecutive day as traders remain confident that the Federal Reserve (Fed) might start easing policy at the upcoming September meeting. Rising tensions between Israel, Lebanon, and Iran also support gold ahead of the weekend. XAU/USD is trading at $2,432, up by 0.22%. Recent US economic data indicates a slowing economy, though not enough to spark recession fears. Concerns following weak ISM Manufacturing PMI and July Nonfarm Payrolls (NFP) reports eased, as shown by the gains in US equities late in the New York session. 🔥 Identify: Gold price recovers - important motivation for FED interest rate cut is getting closer - waiting for attention resistance zones next week: 2448, 2480, 2500 🔥 Technically: Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows: Resistance: $2448, $2480, $2500 Support : $2405, $2387, $2352 🔥 NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDLong
by Nova-Scalper
1
XAU/USD (GOLD) Long from 2.390.000 back up My bias on gold remains bullish. Price has been reacting strongly to demand zones and imbalances, producing solid bullish candles. However, since price left a clean demand zone, I expect a small pullback into that zone for reaccumulation. Once price gives a change of character to the upside in the 20-hour demand zone, I’ll look to buy back up to target the Asia high below the 45-minute supply zone. Confluences for GOLD Buys: - Price changed character to the upside, leaving a clean 20-hour demand zone. - Liquidity above in the form of an Asia high. - -Market structure is bullish on both higher and lower time frames. Economic news and ongoing conflicts support GOLD longs. P.S. After sweeping the Asia high below the supply, I expect a short-term sell opportunity around the 45-minute supply at 2,470.000. However, I’ll wait to see how price reacts.
OANDA:XAUUSDLong
by Hassan_fx
Go long after XAUUSD pulls back.Today, the price of gold broke a new high, with the highest price rising to $2,482, and has fallen back after the high. Regarding the Fed's expectations for interest rate cuts, I have recently communicated with some professional investors. Everyone generally believes that the interest rate cut is expected in September, and even believes that the Fed will cut interest rates three times in September, November, and December. Unlike market expectations, Trump's speech last night shocked the overseas investment market. In an interview with Business Weekly, he revealed heavy information: First: If Trump is elected this year, he will continue to appoint Powell as chairman of the Federal Reserve until the expiration of his term in 2028. Second, he also warned Powell to avoid interest rate cuts before the November election to prevent excessive employment rates and economic boosts from Biden's approval rating in the next few months. The public speech is Trump's campaign for the election, and also a coercion and inducement to Powell. Because Trump's probability of winning this year's election has exceeded 70%, and Powell's position as chairman of the Federal Reserve was given by Biden or the Democratic Party. So Trump gave Powell a price: no interest rate cuts before September, in order to reduce the possibility of Biden's comeback in the November election. If Powell is obedient, then in the next four years, Powell may still be able to control this important department that can command the world. Although the gold price has broken through a new high today, if the expectation of interest rate cuts in the short term cannot be fulfilled, I think it will be very difficult to rise again. Powell must consider his career and the interest groups behind him. Therefore, instead of cutting interest rates in September, the probability of cutting interest rates after the November election is increasing, and it is not ruled out that the Fed's first interest rate cut will reach 50BP. So how should we deal with the gold market next? From the trend of gold prices, after breaking through the key pressure of 2450, gold prices rose again this morning, releasing a lot of long momentum in the short term, and more energy is needed to continue to impact upward. So next we should pay more attention to the position of the top and bottom conversion. In terms of operation, we need to pay attention to today's opening position at 2468-69, pay attention to the pressure of this position, and pay attention to the support of 2450-2442 below, which is the top and bottom conversion position.
OANDA:XAUUSD
by Alligator-King
XAUUSD/H4 The development of the US session, psyche before newsExpectations for the US session on 8/8/2024: The Asia-Europe session is mainly sideways in the 2392-2400 area. This is a sign of accumulation awaiting the US July Unemployment Rate. In terms of technical analysis: the downward trend correction is still being maintained, a recovery from the 2380 area could form peaks in the 2410-2413 or 2427-2434 areas. Price levels to note: SELL: 2400-2404, 2410-2413, and 2425-2434; BUY: 2367-2371 and 2351-2355. Recommended orders: Plan 1: SELL XAUUSD zone 2410-2413 SL 2416 TP 2400 - 2390 - 2377 - 2355. Plan 2: SELL XAUUSD zone 2427-2430 SL 2435 TP 2415 - 2400 - 2377 - 2355. Plan 3: BUY XAUUSD zone 2375 - 2377 SL 2370 TP 2390 - 2400 - 2410.
FX:XAUUSD
by wetdyerap
Interest rate cuts when gold bulls still have momentum to fight For today, Wednesday, how should gold bulls and bears be treated? So for today, intuition tells me that gold may encounter a blocked rebound in the process of going low, as for the reason, because the two days of gold rebound blocked in 2420 that ushered in a fall, the market wind direction is also gradually open to change, which leads to the market long and short reversal, retail investors have poured into the short in the rebound process, which is actually not conducive to the outbreak of short, Moreover, for now, the geopolitical risk sentiment is still continuing to ferment, gold did not take this opportunity to break out is also due to the high bullish heat caused by the market, so for the moment, due to the market's turn around, I think today that short selling or will be slaughtered, of course, for the reasons for the slaughter, I expect institutions will also take risk aversion and interest rate cuts as an excuse, However, it is worth mentioning that the rebound is only a rebound after all, at this point, I expect that the bulls will break 2420, but will encounter obstacles in the 2430-2440 area to usher in a fall again, this point, you can pay attention to prevent. Of course, the above is just my speculation on the market, for the current, gold is not no continuation of the possibility of breaking, this, you focus on the 2370-2360 break can be, once smoothly broken, then there is no doubt that bears still have further lower 2330-2300 momentum, The key is to see whether the market malicious virtual break to attract the possibility of reversal, in this regard, for today, you try to stay on the sidelines, such as falling 2370-2360 can not be considered to do more, of course, radical 2380 can not break a minimum stop loss to participate in a wave, but remember that you also need to hang a good break empty single defense, even if it is successfully broken, All of you need to keep your reverse orders in place to guard against long reversals. So for the upper part, try to wait 2430-2440 does not break again to participate in the short, of course, radical or can refer to 2410-2414 this area, but due to the volatility of the market, coupled with I have not stared at the plate recently, this point, you need to react to the specific operation, of course, any operation, Must strictly follow my requirements to control positions and stop losses, beware of accidental outbreaks.
OANDA:XAUUSDLong
by Transactionheadhunter01
Gold (08/06) recovers after sharp correction☘️Gold (XAU/USD) is struggling to capitalize on the previous day’s nice bounce from the 50-day Simple Moving Average (SMA) support around the $2,365-2,364 region. The decline was supported by some buying in the US Dollar (USD), fueled by rising US Treasury yields and risk-on sentiment, dragging the safe-haven precious metal below the $2,400 level. Expectations of more rate cuts from the Federal Reserve (Fed) will keep a lid on US bond yields and the greenback. Moreover, geopolitical risks stemming from ongoing conflicts in the Middle East could further limit the downside in Gold prices. This, in turn, warrants some caution before positioning for an extension of last week’s pullback from near all-time highs amid the absence of relevant US economic releases. ☘️Technical Analysis After retesting the important resistance zone around 2416, gold formed a bearish wave structure. The recovery of gold at 2416 has an important meaning when touching the fibonacci zone 0.5, which is also a retest of the two EMA lines 34 and EMA 89. When the candlestick force is not strong enough to break the two EMA lines to reverse the trend, the bearish structure will continue strongly. The support zone 2365 will only act as a small barrier before gold retreats to deeper support zones around 2350 and 2337. When all 5 waves are completed, the recovery can completely surpass the all-time high when new economic cycles are formed at the end of this year. Support: 2396 -2385 - 2365-2350 Resistance: 2412 -2418 - 2426 - 2433 - 2440 SELL zone 2426 - 2428 stoploss 2432 BUY zone 2386 - 2384 stoploss 2380 BUY zone 2375 - 2373 stoploss 2369
OANDA:XAUUSD
by TVS-Trader