Cup Pattern Formed, wait confirmationNow Cup Pattern formed and wait for the Breakout. Because Breakout is the only confirmation to achieved Cub Target. In stock market commonly formed Cup & handle Pattern.
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Goldtrend
GOLD - at today support? what next??#GOLD. well guys market very well holding his yesterday supporting area and placed in today 2387 so far as day high,
according to technical 2381 is market today supporting area if market did not hold it then below that sharp decline expected towards your supporting region.
keep close 2381 that is your today most important and support of the day,
good luck
trade wisely
Gold fell and broke through, continue to be bearish on gold
After gold rebounded and came under pressure at 2350 resistance, it fell directly, and then fell below a new low. Gold broke through and fell, and short-term bulls were weak.
The 30-minute moving average of gold has formed a dead cross downward short position. The 30-minute gold has formed a downward trend. It has rebounded weakly along the downward trend line. Now the resistance of the downward trend line is just around 2341.
XAUUSD (GOLD) TRENDLINE BREAKOUT BUYHere on Gold price has be going down and able to break the trendline and retest and the same zone so it like to rise more as the trendline has broken . So is expected to go for LONG and expected profits should be a psychological level of 2385.000 (TP1) and another psychological level of 2390.000 (TP2).
GOLD - in the long term is still bullishThe US April CPI posted on May 15 confirmed an growth of 0.3% final month and an growth of 3.4% over the identical duration final year. The US CPI growth in April changed into decrease than the forecast of monetary professionals collaborating in a Reuters ballot earlier, pronouncing that the CPI extended via way of means of 0.4%.
Mr. Jim Wyckoff, senior analyst at Kitco Metals, stated that the gold marketplace is witnessing a few ordinary profit-taking strain after latest gains, whilst a mild growth withinside the USD index additionally contributed to extended strain. that force.
However, Fitch Solutions` BMI evaluation unit stated that a weaker USD, falling US authorities bond yields in addition to extended geopolitical tensions supported gold final week. This unit nonetheless expects gold fees to hold above 2,250 USD/ounce withinside the coming months...
Gold is forecast to continue to decline deeplyGold prices steadied in Asian trading today after posting strong overnight gains as some mild inflation data dragged the dollar to a one-month low and raised expectations of a rate cut. capacity.
The yellow metal has now returned to record highs reached in May, as traders bet more that the US Federal Reserve (FED) will start cutting interest rates as soon as September. The dollar fell sharply on Wednesday on this view, which should benefit overall metal prices.
Gold prices are up more than 1% from Wednesday after data showed US consumer price index inflation fell in April from March, while core CPI also fell from the previous month.
The figures, followed by weaker-than-expected retail sales data, raised hopes that inflation will ease in the coming months, giving the Fed more confidence in starting to cut interest rates.
The CME Fedwatch tool shows traders are pricing in a higher likelihood of a 25 basis point cut in September, at nearly 54%.
High interest rates push up the opportunity cost of investing in gold and other precious metals because they do not bring direct profits. The yellow metal could also benefit from increased safe-haven demand if the US economy cools further this year.
Slight fluctuations after a series of increasing daysWorld gold prices turned down with spot gold dropping 9.5 USD to 2,375.5 USD/ounce. Gold futures last traded at $2,380.90 an ounce, down $14 from the bright spot.
According to Kitco Metals senior analyst Jim Wyckoff, gold turned around due to normal pressure after recent gains. On that side, the recovery of the US Dollar index also added strength to gold. The dollar rose 0.2% after hitting a multi-month low in the previous session as the latest data showed US consumer prices rose less than expected in April.
Meanwhile, New York Fed President John Williams said that the positive news surrounding the cooling off job is not enough for the US Central Bank to make an early decision to slow down.
Although gold turned down, most experts are still optimistic about gold in the future, predicting that this precious metal will soon conquer new records in the coming months.
MarketGauge's director of trading education and research Michele Schneider said that while it doesn't want to start a cycle of monetary policy easing just yet, it's clear the Fed also doesn't want to push interest rates higher and that conditions will eventually deliver. solid level of support for the precious type
Rising wedge on gold chart we can see that gold price is in bullish move from the last pullback at 2278 after breaking the pervious resistance as we can see in the chart price is now forming a rising wedge pattern which its a bearish pattern so expected that after the price finish the ABCE and breaking below the lower line of the pattern a pullback correction to the support level at 2335
Close all short positions and buy goldI shorted gold at 2385, 2390 and 2395 overnight according to the trading strategy. If you read my last article carefully, I believe you have not missed the short trading plan. Currently, gold has fallen back to around 2383. I have Closed all short positions at 2384 and is considering going long gold.
Although gold continued to fall today, it showed strong resilience during the decline. Yesterday I mentioned in the article that before gold hits the 2400 target, there must be a need for a correction, which will be more conducive for gold to hit 2400 or even higher. I originally expected gold to fall back to the 2375-2370 area, but based on the current strength of gold's decline, gold does not even have the ability to fall below the 2380-2375 area support.
So in the short term, I think gold has pulled back enough so I closed all my short positions. And I am considering going long gold around the 2380-2375 area support, target: 2402.I share detailed trading strategies and trading signals every day. You can follow the channel at the bottom of the article to get detailed trading signals and learn trading logic. People who are already in it have already made a lot of money. Let us enjoy the journey of making money together. !
Buy gold price near 2320. Target position short-term 2346 first
Geopolitics is once again dominating the news. Gold is strengthening again, viewed in conjunction with the golden ratio. The buys that can maintain this position are the main ones. Buy gold price near 2320. Target position short-term 2346 first line
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Because we will be the ultimate winner!
Is it time to sell gold? I don't think so.
Gold price analysis:
Current short-term trend: Up.
News: Good news for gold
Technical Indicators: MA shows bullish trend
Short term pattern: triangle consolidation
Breakthrough direction: Up
Support: 2366-2262
Pressure: 2397-2404
In the short term, low buying is still the main trend!
The above gold prices are based on the real-time prices on TradingView.
Reference products: MCX:GOLD1! TVC:GOLD OANDA:XAUUSD COMEX:GC1!
Taurus will continue to lead gold higher. tp2216
From the trend point of view, gold is currently in a position of falling back to confirm support, and the overall situation is currently breaking through. The operating space is very large.
The U.S. dollar also surged higher but fell back, providing good support for gold prices.
A substantial support has been formed at the hourly level, and the four-hour candle chart is still in a bullish trend, which is a good opportunity to buy low.
Friends who continue to pay attention will find that continuous buying has made particularly great progress this week. It can also be verified from a historical perspective. If you are a newbie or don’t know how to trade yet. Stay tuned so you don’t miss out on every accurate recommendation for reference.
Buy gold at the price of 2206-2207 and hold it until it rises.
sl2198
tp2166
Related Products TVC:GOLD MCX:GOLD1! OANDA:XAUUSD
GODL - will continue his bull run? Or not?#GOLD.. market reached at his 3 weeks high.
There is only one area that is 2392 93 around.
So guys keep close it because it's final hope for sellers.
It will be your key level in today and swing level as well.
If market hold it, in that case any kind of selling expected with supporting area of 2378 around.
If not hold then cutt n reverse keep in hand.
Good luck
Trade wisely
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Gold can still maintain this range for long purchases to earn the price difference. Rely on the MA below and the geopolitical news below as support. In the ultra-short term, I personally think there will be more room for buying operations and lower risks. 20310-2319buy
COMEX:GC1! TVC:GOLD OANDA:XAUUSD MCX:GOLD1!
In the past, you always failed when trading alone.
But everything will change after you follow me.
Because we will be the ultimate winner!
Gold continues to go up, entry buy todayCooling US inflation pushed gold prices up nearly 30 USD an ounce, and helped Wall Street set a new record.
Closing the trading session on May 15, each ounce of world gold for immediate delivery increased by 27 USD to 2,385 USD. During the session, gold price at one point touched 2,390 USD - the highest in nearly a month.
The market went up due to the weakening of the USD and falling US government bond yields, after the country announced that April inflation increased more slowly than forecast. This data has strengthened the possibility of the US Federal Reserve (Fed) reducing interest rates.
The US consumer price index (CPI) increased by 0.3% last month. In February and March, the increase was 0.4%. This shows that inflation has restored its downward trend, giving investors more confidence that the Fed will lower interest rates from September.
CPI "may be an early indicator showing that in the long term, inflation will cool down and the Fed will have the first decision to reduce interest rates," said Phillip Streible - market strategist at Blue Line Futures. CME FedWatch tracker shows that investors currently place a 74% chance of a Fed rate cut in September.
The index tracking USD prices with a basket of major currencies - Dollar Index yesterday decreased 0.6%, reaching its lowest level in more than a month. This makes gold more attractive to buyers outside the US. The 10-year US government bond yield also fell to a one-month low.
Still determining the upward price trend, today's trading strateWorld gold prices increased sharply with spot gold increasing by 27.4 USD to 2,385 USD/ounce. Gold futures last traded at 2,391.8 USD/ounce, up 31.9 USD compared to yesterday morning.
Gold prices rose to their highest level in more than 3 weeks on May 15 (US time) thanks to support from the weakness of the greenback and falling yields after the latest inflation report. Published data showed that the US consumer price index in April increased less than expected, increasing the possibility of interest rate cuts by the US Federal Reserve (Fed). The dollar fell 0.5% to its lowest level in more than a month, making gold more attractive to holders of other currencies. Benchmark 10-year Treasury yields also hit a more than 1-month low.
The CPI data “could be an early sign that over time inflation will cool and the Fed will make its first rate cut,” Blue Line Futures chief market strategist Phillip Streible said.
The CPI rose 0.3% last month after rising 0.4% in March and February, suggesting inflation continued its downward trend at the beginning of the second quarter. This has pushed up financial market expectations of an interest rate cut in September. According to Reuters poll results, economists forecast CPI to increase 0.4% in the month and up 3.4% over the month. with the same period last year.
Technically, bullish gold futures have the solid overall near-term technical advantage. Kitco Metals senior analyst Jim Wyckoff wrote in a note that bulls' next upside target is to produce a close for June futures above solid resistance. probably at 2,400 USD/ounce.
Gold prices are likely to increase sharply in the coming daysGold rate forecast
Gold costs accelerated due to the fact tensions in Ukraine and the Middle East nonetheless display no symptoms and symptoms of cooling down. Russia is attacking on many fronts in Ukraine and fierce combating is occurring. Meanwhile, withinside the Middle East, Iran these days stated it'd create a nuclear bomb if threatened via way of means of Israel.
With indicators from cooling US commodity costs, it's far probable that the USD will keep to sag and in all likelihood weaken because the time till the September assembly steadily shortens.
Recently, many forecasts say that gold costs can also additionally weaken this summer, in all likelihood in May and June while the Fed delays reducing hobby rates. However, if inflation withinside the US is still managed and americaA financial system suggests similarly symptoms and symptoms of weak spot, gold has the possibility to growth its rating following the weak spot of the greenback.
In addition, buyers additionally carefully display geopolitical fluctuations withinside the Middle East, Ukraine and a few different regions.
GOLD - where is today top ? CPI day, whats next??#GOLD.... what a funtastic move as per our today video analysis, and we mentioned that there is 2 areas upside, first one is 2374 and 2nd is 2379
keep close both areas and if market hold that region then drop expected from here,
and downside areas are mentioned on chart.
good luck
trade wisely