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Gold Expanding the Limits of the Range and Future Projections***This is not financial advice of any kind. Any information that you take and act upon is at your sole discretion.*** The overall thesis here is that gold wants to dump to Covid Crash levels before setting new all time highs. The Daily candle just closed above our average price area suggesting that we are going to be moving back up toward the previous high. Our initial short-medium term projection is still valid and through the course of the next two weeks will get much more clarity about which direction we're headed. I am not trading a leveraged in gold, but have invested into physical bullion, so do with that what you will. ***This is not financial advice of any kind. Any information that you take and act upon is at your sole discretion.***
FX_IDC:XAUUSD
by AuracleatFungii
4
Gold Trend 16/06Gold rebounded from the 1-month low yesterday. The day began at 1807, and the price has kept moving higher early in the Asian & European sessions. Gold reached the early high at the US session opening near 1836. Once the US Fed. announced the result, the price jumped to the day-high at 1841, with the day ending at 1832, up by USD 24. The market reaction wasn't too strong after the US Fed. Meeting where the price remains in the 1808-40(1) range. An S-T upward trendline(2) has formed in the past 24 hours. If the price can clear the selling resistance at yesterday's peak near 1840, it will be able to touch again 1860 in the next 24-48 hours. The buying support below 1810 is still strong. However, the price has yet to clear the selling resistance at the 250 days MA(3). Before the price can break out from the 250 days MA(3), expect the price to be bound between 1810-34 on the daily chart. S-T Resistances: 1848-50 1840 1833-35 Market price: 1831 S-T Supports: 1830 1820 1810-08 If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think! P. To
TVC:GOLD
by 1uptick
Gold Trend 15/06Gold touched a new one month-low yesterday. The day began at 1819. Like the day before, the price quickly rebounded from the early low of 1808 within the opening hour of the Asian session. It reached the day-high 1832 at the European session, and the selling has resumed. The price slid to the day-low at 1804 with the day ending at 1807, down by USD 11. Although gold touched a new 1-month low yesterday, the buying support between 1800-10 remains strong. The selling momentum has slowed down in the past 24 hours after the price broke out from the downward trendline(1) at the day's end yesterday. Expect the price to stay within 1808-40(2) before the US Fed. Meeting announcement. Some rumors are saying that the Fed. may increase the rate by 0.75%; if it turns out to be true, the price will test a new low again today, targeting 1785. Otherwise, if the Fed. hike the rate by 0.5% as the market expected, the current downtrend will end. A bottoming out has yet to appear where the gold price closed near the day-low yesterday on the daily chart. Unless a reversal signal occurs, there is still a chance that the price will touch a new low within today. S-T Resistances: 1830 1825 1820 Market price: 1814 S-T Supprots: 1810 1808 1800 If you like our work, kindly give our team a thumbs up. Feel free to leave a comment; let us know what you think! P. To
TVC:GOLD
by 1uptick