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GOLD 23/05: The Bears continue to attack!TVC:GOLD Gold prices (XAU/USD) remain at an intraday low near 1,960$ as it falls for the second day in a row while reversing Friday's corrective rally early Tuesday in Europe. In doing so, the precious metal bears the weight of a firmer US Dollar ahead of the first readings of the Purchasing Managers' Index (PMI) for May from leading economies including the United States. A clear break of the ascending support line has formed in three days, now an immediate resistance near 1960$, suggesting that gold prices will continue to fall. Adding strength to the bearish trend are bearish MACD signals. However, the monthly low around 1,945$ could spur the bears as the RSI appears oversold. In the event that Gold prices still fall through 1955$, the late-March low near 1940$ could attract XAU/USD sellers. Meanwhile, a break of immediate support turning resistance near 1,960$ is not an open opportunity for Gold buyers as the 100-HMA hurdle near 1,975$ and the resistance line sloping down from May 11th. 5, near 1,970$ at the latest, could challenge the XAU/USD uptrend. Accordingly, a three-week descending resistance line near 1,990$ should act as the Gold Bears' final layer of defense.
TVC:GOLDShort
by DNA_TradingFX
14
GOLD 22/05: Gold has climbed above the 1980 zone!TVC:GOLD Gold prices have rebounded above potential resistance, which has turned support, drawn from mid-month lows at $1,970 on a four-hour scale. The precious metal shows a V-shaped recovery from around 1955 amid the emergence of responsive buyers. Confident sustainability above the 20-period Exponential Moving Average (EMA) at $1,980 will turn the short-term trend positive. The Relative Strength Index (RSI) (14) briefly moved back into the 40.00-60.00 range, which indicates a bullish reversal. US Dollar Index (DXY) refreshed intraday low at 102.96 as Fed is expected to keep rate policy unchanged due to tightening credit conditions by regional banks The US is putting pressure on inflation. SELL GOLD zone 1993-1995 Stoploss: 2000 Take Profit 1: 1988 Take Profit 2: 1983 Take Profit 3: 1975
TVC:GOLDShort
by DNA_TradingFX
4
GOLD: 19/05. Sellers still prevail?TVC:GOLD Gold prices extended the downside break of the two-month ascending trendline and the 50 DMA as it created support at 1955 including the late-January high. Adding strength to the seller's dominance are the bearish signals from the Moving Average Convergence and Divergence (MACD) indicator. However, the Relative Strength Index (RSI) line, set at 14, is still well below the 50 level and shows that Gold prices are bottoming out. Therefore, the 100 DMA and the upward sloping support line extending from November 2022, near $1,930 and $1,925 respectively, could limit the further downtrend of XAU/USD. In the event that the Gold price still falls through the $1,925 level, the possibility of seeing a drop to the $1,910 round-up cannot be ruled out. Conversely, the previous 50-DMA support line, near 1986$ and 1990$ in that order, will stand against the round figure of $2,000 to limit the short-term rally in Gold prices. If XAU/USD remains firmer beyond the psychological magnet $2,010, highs marked in late March and early April, around $2,015 could act as an additional test before ending. pushes quotes towards 5-week horizontal resistance near $2,040. BUY GOLD 1950-1953 Stoploss: 1945 Take Profit 1: 1958 Take Profit 2: 1965 Take Profit 3: 1970 SELL GOLD 1968-1972 Stoploss: 1978 Take Profit 1: 1963 Take Profit 2: 1958 Take Profit 3: 1950
TVC:GOLDShort
by DNA_TradingFX
3
Gold is under Pressure 29/10/2022General Commentary: on 21 Oct 2022 gold rose more than 3% to our OB again #1,663.27 - #1,672.42 which we have set our sell order after the price action triggered from #1,670.00 towards #1,657 on a satisfactory #13 point profit run, the market has created more OB at #1,670.09 - #1,665.25 which the Change of Structure has appeared, we have opened our sell order at Re-Sell zone towards to #1,651.22 on a satisfactory #16 point profit run. Next Position: The news is big next week and we have 2 scenarios to create a profitable setup, either gold will retest again zone #1,656.93 - #1,660.99 and we will re-sell again from our bearish Order Block, Or Gold will go down towards #1,617.10 - #1,627.18 and we will wait to retest again to enter our Sell Order. Note: Gold is under heavy selling pressure, and we do not buy the retest, we wait for the retest to happen then we follow the market trend :).
FX:XAUUSDShort
by LebaneseGoldExperts