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Preciousmetals

The Gold Odyssey - Here we go again!Someone mentioned to me that Gold is an asset that never loses money. I took the effort to show previously that Gold can very well do a 20% drop over a slow bleed (months) before it travels back up months later too. I also warned that Gold appears not to be able to keep properly and well above 2000-2080. Since 2020 (the Gold Odyssey series started in 2019), there is a multiyear consolidation range between 1650 to 2050, roughly. Having pointed all that out, it appears that Gold had given up the cling to 2000. Here is why: 1. There are lower lows and lower highs (clearer in Daily chart); 2. a clear breakdown of small consolidation range at 1960 support; 3. Technical indicators MACD and VolDiv have crossed under their lagging signal lines; and 4. The TDST (Green dotted line) was broken out of and with long upper tailed candlesticks reversed back to break down of that TDST. When prices are above, the primary trend is bullish. Now it reverted back to a bearish primary trend. (This is part of TD Sequential rules). Given the above, we can project that the most likely trajectory in the following months is down to 1680 (4Q2023), in a repeated pattern, for the third time, since 2020. There should be a stalling consolidation about 1800 too, so expect that. Now, for this to happen, a few fundamental things need to align... a. the USD should be rallying hard upwards; b. the interest rates should be rising too; c. inflation moderates; and d. Possibly in alignment, can expect the equity markets to be bearish. Heads up and take care! ps. some dates projecting forward are marked. :)
COMEX:GC1!
by Auguraltrader
1
$XAG -Weekly Uptrend Outlook- Silver has been suffering for a while, correcting in it's Price Action. Uptrending from August 2022, it has done printing a Bullish EMA's Crossovers of Mini(20&50EMA) and Major 50&200 EMA; post trendline resistance break-out and re-testing it as successful support before aiming higher Currently it has found a small support base stuck between 20 & 50 EMA on the Weekly, while worth noting is that it has lost the Golden Zone of Trend Fibbonnaci Retracement taken from the Lows of August 2022 . Lower supports on *W is 200EMA and just below it a big Order Block found in 8Hrs (tf). A negative downtrend would be established by losing grip of that 200EMA and 8hrs OB, as well the loss of 0 fibb retracement at 19.85$ as a Change of Character Important Candlestick being printed this Week (2 days; 4hr to close) TRADE SAFE ! *** Note that this is not Financial Advice ! Please do your own research and consult your own Financial Advisor before participating on any kind of trading acitivity based alone in this idea.
OANDA:XAGUSD
by Mr_J__fx
$DXY - Bull Flag *12Hr TVC:DXY - 12Hr* Bull Flag - TVC:DXY Bull Flag post break-out still valid and in play until Price Action nullifies it. Breaking the Bull Flag (in green) and the Resistance Trendline (in red) coming from 114 Highs will confirm another Macro Higher Low in $DXY. (in play would be the macro wave C putting The Dollar Index at 96) LH confirmation would give the other Financial Markets sectors room to explode headed to the upside, stronger then we've seen so far for the year. TRADE SAFE *** NOTE that this is not Financial Advice ! Please do your own research and consult your Financial Advisor before partaking on any trading activity based solely on this Idea .
TVC:DXY
by Mr_J__fx
Will Palladium Slide Down To $1000?Palladium, which hit an all-time high of $3433 in March 2022, has since experienced a major downturn, plunging below the $3000 support level and losing 34% of its peak value by the end of that month. The downward trend persisted throughout 2022, breaching the critical $2000 level in October. A significant bearish move in February 2023 further pushed the price below the $1543 support level from December 2021, turning it into a formidable resistance level. This has led to a further drop to a four-year low of $1305. Now, with a total decline of over 58% from its all-time high, palladium may continue to fall towards the $1000 mark unless buying sentiment changes. If you enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUMShort
by Sublime_Trading
23
#XAUUSD Update #Gold The correction is far from complete. The chart below indicates a scenario with flat which, however, is easily interchangeable with a more complex wxy combination going sideways. The bigger picture remains unchanged since the last update on May 27. While I agree with gold bulls that the trend is up, I still see the next 6-8 months as extremely challenging for stocks, energy and precious metals. Perhaps, this is due to the coming liquidity squeeze. Below I indicated two possible scenarios of expected decline.
OANDA:XAUUSD
by Fomenka
Silver Linings Trade BookAt the expense of using a mixed metaphor, silver may at times appear to be a mercurial trading instrument. Even if you only trade silver as a CFD product, utilising pure technical analysis, and without holding any of it as a physical asset, you should still be aware of the macroeconomic context that influences this metal alongside supply and demand fundamentals. Silver, according to many players in the market, is heavily manipulated by some of the big banks as well as the U.S. Fed and Treasury. By manipulation, we mean a suppression of the real price of silver given bullish fundamentals that should translate into much higher prices. Let’s first discuss the safe haven nature of silver. Four precious metals typically interest safe haven investors, namely gold, silver, platinum and palladium. It may come as a surprise to many that gold is not always the strongest and safest of havens and indeed during certain periods, silver, along with platinum and palladium, has acted as a safe haven when gold has not. Silver has been resilient in this regard as seen through the Covid-19 pandemic when its position as a safe haven asset climbed 47.89% between 31/12/2019 and 31/12/2020 compared to 25.12% for gold, 25.86% for palladium and 10.92% for platinum during the same period. Silver’s backbone though is built from its use as an industrial metal and although industrial demand has been fickle since Covid-19, that’s still not been as fickle as investment demand since that time. As of January 2020, industrial buyers accounted for more than 50% of demand for the metal. Recent bearish economic data from key markets such as the U.S., China and Germany has put a lid on any attempts at a parabolic move eyeing the highs of Feb 2021 despite gold hitting an all-time high recently. When the global economy emerges from troubled waters, the global drive for cleaner energy will resume in earnest and make silver a key decarbonisation trade and we may see a resumption of the 2020 bull run. There is still room for a momentum rebound with a change in sentiment and consequent space to manoeuvre between where we are at the moment and the $30 high reached in early Feb 2021 and between that top and the all-time high of $49 in 2011. Technical traders using leverage on gold CFDs, especially intra-day traders, get nervous when they look at the price action of silver in comparison. Silver’s price action is not as smooth as gold’s and the daily ranges may also appear tighter in comparison but this is in part due to silver’s wider use in industry compared to the yellow metal. As a result, silver has more cyclical characteristics than gold but this helps contextualise patterns and trends for trade analysis. Traders are losing out on not trading silver because intra-day trades as well as swing/position trades can offer an excellent risk to reward ratio with this instrument. Silver, like gold, is also offered by many brokers with a very reasonable spread and ones that are also much lower compared to platinum and palladium. As always, remember that when you go to market, be careful out there.
TVC:SILVER
by BluetonaFX
7
Platinum, could this be a new swing higher?Today's focus: Platinum Pattern – Support hold, trend break Possible targets – 1070 Support – 993 Resistance – 1035, 1070 Today’s update is on Platinum. We have run over our thoughts and levels we are watching. Yesterday’s solid rally has held support and has started to test support after breaking the current downtrend. Will we see buyers clear resistance and confirm the trend break? Thanks for stopping by. Good trading, and have a great day.
EIGHTCAP:XPTUSDLong
by Eightcap
Gold and stocks are showing more signs of decouplingAfter expressing our concerns about gold's rally in early May 2023, we saw it tumble as low as $1,932.11 just two days ago. Since this low, gold’s price rebounded above $1,970 and then weakened again. Currently, it trades near $1,955 per troy ounce. That brings us to a similar assessment as in our previous article, and we will pay attention to the two closest levels of importance, particularly near $1,952 (support) and $1,959 (resistance). If the price breaks below the support, it will be bearish for the short-term; contrarily, if it breaks and holds above the resistance, it will be bullish. Regarding technical indicators on the daily time frame, we are observing MACD, which is slightly flattening; if it starts turning to the upside (and eventually breaks above the midpoint), it will be a bullish sign. The same applies to rising RSI and Stochastic (and also to converging DM+ and DM-). As for our current stance, we continue to be worried about gold’s performance in the short term as it is still possible that more downside will follow. Despite that, there is one development we are starting to notice increasingly more. Last year, when the stock market was declining, it weighed on gold, which saw investors taking profits in order to cover losses elsewhere. As of late, however, gold has been sold off as the stock market turned into this “complacency” phase, with approximately six companies dragging the whole U.S. market higher. We plan to be attentive to this decoupling, as it might be a very important development for gold going forward, and we can start seeing it perform well despite stocks selling off. Illustration 1.01 Illustration 1.01 shows the daily chart of XAUUSD. The yellow arrow indicates a bearish crossover between the 20-day SMA and the 50-day SMA. We will pay close attention to volume. If it continues to decline, that might suggest that the selling pressure is cooling off. Technical analysis Daily = Bearish Weekly = Slightly bearish *The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of RSI, MACD, Stochastic, DM+-, ADX, and moving averages. Please feel free to express your 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 be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
OANDA:XAUUSD
by Tradersweekly
9