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GOLD → Growing economic risks increase interest ↑FX:XAUUSD rallied aggressively due to high interest driven by rapidly rising economic risks, mainly related to Trump's tariffs. For selling, the risk is very high, with the stock and cryptocurrency market declines only adding to the interest in the metal Markets are taking refuge in defensive assets amid WSJ reports of Trump's possible tariff hike of up to 20% for most US trading partners. This could trigger inflationary pressures and stagflation, weakening the dollar and bond yields, which supports the gold price. This week all eyes are on Trump's speech on Wednesday, PMI, NonFarm Payrolls and Powell's speech Technically, it is not worth selling now as it is high risk, and for buying we should wait for a correction to key support levels Resistance levels: 3127 Support levels: 3103, 3091, 3085 We are not talking about any trend reversal now. It is worth waiting for a local correction or consolidation, the market will mark important levels, liquidity zones or imbalances against which you can build a trading strategy. Gold will continue to grow because of the strongly increasing risks. Regards R. Linda!
FX:XAUUSDLong
by RLinda
1
Gold Next 24 to 48 hours (31/3/2025)Current Market Snapshot OANDA:XAUUSD Gold closed the previous week at approximately $3,085 per ounce, after hitting a new all-time high of $3,087 on Friday. This indicate a bullish market, driven by persistent safe-haven demand, central bank purchases (notably from China and Russia), and expectations of U.S. Federal Reserve rate cuts in 2025. However, there’s also chatter about potential profit-taking or consolidation, as gold approaches overbought conditions on some technical indicators. Bullish Sentiment: Traders expect gold to break $3,100 soon, citing geopolitical risks and a weakening U.S. dollar index (DXY) forecasted to drop below 100. Bearish/Cautious Sentiment: Some traders warn of a pullback to $3,055-$3,060 if $3,091 resistance holds or if unexpected U.S. economic data surprises markets. Technical Analysis Technical levels for next 24 to 48 hours: Support Levels: $3,060: Strong support from recent consolidation and a psychological round number. $3,055: A deeper support level from late February 2025 trends. $3,000: Major psychological and historical support if a significant sell-off occurs. Resistance Levels: $3,091: Immediate resistance; a break above this could trigger FOMO (fear of missing out) buying. $3,100: Next psychological resistance $3,200: Short-term bullish target Indicators: RSI (Relative Strength Index) on daily charts (from web sources) is near 70, suggesting gold is overbought but not yet at extreme levels (80+), indicating room for further upside. Moving Averages: Gold is trading above its 50-day and 200-day EMAs, reinforcing the bullish trend. Price Range for next 24 to 48 hours Low: $3,058 - $3,065 This accounts for potential profit-taking at the open or a risk-off move if weekend news is negative. High: $3,100 - $3,150 This reflects bullish momentum if $3,091 is breached early, with traders targeting $3,200 as the next psychological level. After weighing all factors, here’s my enhanced prediction: Most Likely Scenario: Gold will open slightly lower ($3,080-$3,085) due to profit-taking but will recover throughout the day as buyers step in at support levels ($3,060-$3,065). If $3,091 is broken (70% probability), gold could rally to close near $3,100-$3,120 by Monday’s or Tuesday’s end. Alternative Scenario: If selling pressure intensifies (30% probability), gold might drop to $3,058-$3,065 but is unlikely to fall below $3,050, as buyers would likely defend this level. Key Catalysts to Watch: Asian market open (Monday morning): If Chinese or Indian gold demand remains strong, prices could gap up. U.S. market open: Watch for any statements from Fed officials or Trump administration policy announcements. Volume: High volume above $3,091 would confirm bullish momentum; low volume could signal consolidation. Apr 2 USD ISM Manufacturing PMI Apr 2 USD JOLTS Job Openings Apr 2 USD ADP Non-Farm Employment Change Apr 3 USD Unemployment Claims Apr 4 USD ISM Services PMI Apr 4 USD Average Hourly Earning Apr 4 USD Non-Farm Employment Change Apr 4 USD Unemployment Rate Apr 5 USD Fed Chair Powell Speaks
OANDA:XAUUSDLong
by Deluxeanalysisandsignals
1
Gold opened higher and broke the historical high again Gold is still in a golden cross with upward bullish divergence. The bullish strength of gold is still there, but gold is rushing higher, so we must beware of short-term adjustments in gold. If gold breaks through the previous historical high of 3100, then 3100 will be a turning point support for gold in the short term. If it falls back to 3100, continue to buy on dips. As long as it does not fall below 3100, gold will continue to be the home of the bulls and will be in a strong unilateral position in the short term. On the whole, gold is in a continuous upward trend, the bulls are climbing steadily, the lows are constantly moving up, and the highs are constantly refreshing. At present, the gold price still has room to rise. The focus below is on the 3070 support line, followed by the 3100 line. On the whole, the short-term operation strategy for gold is to focus on long positions on pullbacks and short positions on rebounds. The short-term focus on the upper side is the 3100-3120 resistance line, and the short-term focus on the lower side is the 3066-3070 support line. Gold operation strategy reference: Short order strategy: Strategy 1: Short 20% of the gold position in batches when it rebounds to around 3100-3115, stop loss at 3120, target around 3085-3075, and look at the 3070 line if it breaks; Long order strategy: Strategy 2: Long 20% ​​of the gold position in batches when it pulls back to around 3070-3073, stop loss at 3060, target around 3085-3095, and look at the 3120 line if it breaks;
TVC:GOLDLong
by TimConrad
1
Gold bulls' carnivalThe current gold market is in a typical bull carnival market, and prices continue to climb to historical highs. After a small gap-up opening at 3087 in the morning, it quickly rose to the 3097 line, then fell back to repair the gap to around 3076 and rose again. This trend clearly shows that the market is still under the control of strong bulls, but it also indicates that risks are accumulating. Technical analysis Daily level analysis The MACD indicator has a second golden cross and runs in large volume, showing strong bullish momentum The dynamic indicator STO quickly enters the overbought area upward, warning of a callback risk Key support level: around 3062 and 3057 Moving average system: MA5 (3054) and MA10 (3043) are not considered for the time being due to the lag of the indicator 4-hour level analysis The price remained in the 3065-3086 range and then broke through The gap 3084-3087 became an important support area Secondary support level: 3076-73 and 306 5 front line MACD golden cross with large volume oscillation, STO overbought upward, indicating oscillation upward Hourly level analysis After the big Yin repaired the gap, the big Yang immediately pulled up, showing that the upward momentum is not exhausted MACD dead cross turned into golden cross, STO indicator rose Key support area: 3089-3085-3081 Key price prompt Bull defense line: Short-term: 3084-3087 (gap support) Medium-term: 3066-70 (bull-bear boundary) Long-term: 3050-55 (bull-bear watershed) Upper resistance: 3107-3109 3111- 3118 3135 Trading strategy suggestions Long strategy (participate with caution) Entry point: around 3085-87 Stop loss setting: below 3076 Target: 3095→3105→3118→3135 (take profits in batches) Core logic: gap support is effective, short-term upward momentum is still there Short layout (prepare for callback) Potential short selling area: 3111-3118 Around 3135 Stop loss setting: 2-3 US dollars after breaking through the previous high Target: 10-20 US dollars callback space Core logic: technical repair after extreme overbought Demand Special reminder Non-agricultural weekly trading features: The beginning of the week may continue to rise (Monday to Wednesday) ADP data on Thursday and non-agricultural data on Friday may cause violent fluctuations It is recommended to reduce positions before key events Risk control points: Strictly stop loss to prevent sudden reversals Avoid chasing long positions at key resistance levels Positions controlled within 5% Market warning: Currently in a typical "fish tail market", the profit and loss ratio has deteriorated Bull carnival is often followed by a violent correction Need to remain rational and not blindly chase the rise Conclusion Although the gold market remains strong at present, the technical side has shown multiple overbought signals. It is recommended that investors remain calm, cautiously go long at key support levels, and arrange short positions at important resistance levels to prepare for possible sharp corrections. Remember, when the market is the craziest, it is often necessary to keep the clearest mind. Strict risk control and position management are the key to survival in the current market.
FX:XAUUSD
by Golden_Legend
1
Trend continuation within channel (15M & 1H confluence)Bias: Bullish Strategy: Trend continuation within channel (15M & 1H confluence) Setup: Buy $3,085–$3,090 → TP1 $3,105 → TP2 $3,110 why ? #1D Chart (Top Left): Elliott Wave Count suggests price is in Wave (5) of a bullish impulse. A bullish breakout just happened from a bull flag (Wave 4). RSI: Overbought (74) — caution of potential short-term pullback, but momentum remains strong. #4H Chart (Top Right): Strong impulse wave forming post corrective ABC. Currently in sub-wave (5) — upside continuation likely toward $3,110–$3,120 before potential exhaustion. #1H Chart (Bottom Right): Inside a rising parallel channel. Breakout from small range (flag) just occurred. Expect continuation toward top of channel (~$3,110) if momentum continues. #15M Chart (Bottom Left): Clean structure of higher lows, ascending trendline support. Strong bullish reaction from recent consolidation = likely institutional demand.
OANDA:XAUUSDLong
by Echoestraders
2
GOLD(XAUUSD) -Weekly Forecast,Technical Analysis & Trading IdeasMidterm forecast: 2772.38 is a major support, while this level is not broken, the Midterm wave will be uptrend. We will close our open trades, if the Midterm level 2772.38 is broken. OANDA:XAUUSD TVC:GOLD Technical analysis: A trough is formed in daily chart at 2832.55 on 02/28/2025, so more gains to resistance(s) 3100.00, 3150.00, 3200.00 and more heights is expected. Take Profits: 2833.00 2879.11 2955.00 3000.00 3057.40 3100.00 3150.00 3200.00 __________________________________________________________________ ❤️ If you find this helpful and want more FREE forecasts in TradingView, . . . . . . . . Hit the 'BOOST' button 👍 . . . . . . . . . . . Drop some feedback in the comments below! (e.g., What did you find most useful? How can we improve?) 🙏 Your support is appreciated! Now, it's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Have a successful week, ForecastCity Support Team
FX:XAUUSDLong
by ForecastCity
22
XAUUSD Breaking Records: Bull & Bear Setups for the New Month 🔥 Attention all traders!🔥 XAUUSD is on fire, breaking records with power! Here’s the latest update: 🔻 Bearish Outlook: Watch for a potential dip below the 3076-3078 range. If it falls, targets like 3050 and 3030 could be in play. Keep an eye on these support zones! 👀 🔺 Bullish Outlook: A breakout above this range could open up buying opportunities! Look for price action above 3084 with targets at 3097 and 3110. 🚀 New Month Open Candle: As we step into a new month, keep a close watch on the market open candle 📅. This could set the tone for the next move! 💡 Risk Management** is key! Always trade smart and protect your capital! 💰 Join the discussion and share your thoughts! Let's ride this golden wave together! 🌟
OANDA:XAUUSD
by ANNA_EXPERT
1
3 Best Trading Opportunities to Maximize Profit Potential Hey traders, In the today's article, we will discuss 3 types of incredibly accurate setups that you can apply for trading financial markets. 1. Trend Line Breakout and Retest The first setup is a classic trend line breakout. Please, note that such a setup will be accurate if the trend line is based on at least 3 consequent bullish or bearish moves. If the market bounces from a trend line, it is a vertical support. If the market drops from a trend line, it is a vertical resistance. The breakout of the trend line - vertical support is a candle close below that. After a breakout, it turns into a safe point to sell the market from. The breakout of the trend line - vertical resistance is a candle close above that. After a breakout, it turns into a safe point to buy the market from. Take a look at the example. On GBPJPY, the market was growing steadily, respecting a rising trend line that was a vertical support. A candle close below that confirmed its bearish violation. It turned into a vertical resistance . Its retest was a perfect point to sell the market from. 2. Horizontal Structure Breakout and Retest The second setup is a breakout of a horizontal key level. The breakout of a horizontal support and a candle close below that is a strong bearish signal. After a breakout, a support turns into a resistance. Its retest is a safe point to sell the market from. The breakout of a horizontal resistance and a candle close above that is a strong bullish signal. After a breakout, a resistance turns into a support. Its retest if a safe point to buy the market from. Here is the example. WTI Crude Oil broke a key daily structure resistance. A candle close above confirmed the violation. After a breakout, the broken resistance turned into a support. Its test was a perfect point to buy the market from. 3. Buying / Selling the Market After Pullbacks The third option is to trade the market after pullbacks. However, remember that the market should be strictly in a trend . In a bullish trend, the market corrects itself after it sets new higher highs. The higher lows usually respect the rising trend lines. Buying the market from such a trend line, you open a safe trend-following trade. In a bearish trend, after the price sets lower lows, the correctional movements initiate. The lower highs quite often respect the falling trend lines. Selling the market from such a trend line, you open a safe trend-following trade. On the chart above, we can see EURAUD pair trading in a bullish trend. After the price sets new highs, it retraces to a rising trend line. Once the trend line is reached, trend-following movements initiate. What I like about these 3 setups is the fact that they work on every market and on every time frame. So no matter what you trade and what is your trading style, you can apply them for making nice profits. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDEducation
by VasilyTrader
5
XAUUSD - Uptrend is strong, pullback for buysThe gold market is displaying remarkable strength, with the XAU/USD pair recently breaking above the $3,085 level to establish new historical highs. The upward trajectory has been supported by a robust ascending trendline dating back to late February, indicating persistent bullish momentum. While the immediate trend remains decidedly positive, technical indicators suggest a potential short-term correction may be forthcoming, which would likely present advantageous buying opportunities for traders. The highlighted support zone around $3,030-$3,040 could serve as an ideal entry point for those looking to establish long positions, with the expectation that after this healthy pullback, gold will resume its upward march toward the projected target of $3,100 and potentially beyond. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDLong
by financialflagship
2
Trade for XAUUSD (GOLD) Today Okay here's my trade i took with gold earlier. My target was a 1:3R and my idea came from combination of my multi timeframe analysis. From Daily i go down to 1H tf for more info then go down to 5m tf for my final entry. For this week i can see Gold retrace going towards the Daily BISI below and since today is Monday, i am expecting price to go up first and liquidate before it will reverse going down. So once i saw that in 5m tf that price went towards the 200 EMA i monitored price and saw that price was rejected and respected the 200ema in 5m tf which is also aligned to the 1H tf level of change in state of delivery. So to make it clear, price respected 200ema at the same time respected and was rejected by the 1H order block so with this combination of ideas i came up with my final decision to enter a LONG entry. It was a fast and smooth trade...
ICMARKETS:XAUUSDLong
by alfoxDayTrader
2
XAUUSD 31/3/25Our analysis on gold is clear—there is only one direction we should expect price action to move. For most of the past year, this asset has consistently delivered new highs, and we anticipate this trend to continue. This is why we have a question mark next to our target as where will the next target be? We only expect higher prices here. Gold is fundamentally driven, and with banks rushing to lower interest rates, it remains one of the best long-term stores of value. As always, our mindset is simple: if our bias is bullish, we do not expect price to pull back. A pullback would mean price moving against our bias. Maintain this perspective and expect price to continue expanding. Avoid looking for pullbacks unless there is a clear downside move. Gold will keep setting new all-time highs. This is not a market where you should attempt to call the top—if you do, it will end up on top of you. While there isn’t much else to add to this analysis, we have identified two key areas where we would look for long positions if price pulls back, though we remain doubtful that will happen. This is the model. These are the rules. We follow them without exception. Stick to your rules. Stick to your risk. Let Orion lead the way.
FX:XAUUSD
by PipSurfingSociety
1
XAU/USD next weekIt is expected that gold will trade within the range of $3060 - $3090 next week. Before the upward trend ends, you can continue to buy on dips. Specifically, you can consider buying near $3060 - $3066, with a stop - loss set below $3055 and a target of $3090 - $3095. If the price pulls back to around $3074, you can also buy, with a stop - loss at $3064 and a target of $3084 - $3100. It is advisable to hold the position if the price breaks through $3100. I will continuously send out accurate signals, and all signals have been profitable. If you need accurate signals, please click the link below the article.
FOREXCOM:XAUUSD
by KentJessie6
1
GOLD PoV - SHORT 3.125$The price of gold has recently reached a historic high, surpassing the $3,100 per ounce mark, driven by uncertainty stemming from U.S. tariff policies under President Donald Trump and concerns about potential geopolitical conflicts. This increase underscores gold’s role as a safe haven asset, with investors seeking stability amid growing economic and political instability. Trade tensions, particularly the tariff policies proposed by the Trump administration, have contributed to economic uncertainty, prompting investors to seek security in gold. Additionally, concerns about potential conflicts, such as recent escalations in the Middle East, have further strengthened demand for gold as protection against geopolitical risks. Central banks have played a significant role in this scenario, increasing their gold reserves. In the third quarter of 2023, reserves increased by 337 tons, bringing the total for the first nine months of the year to 800 tons, about a third of the global mine production for the same period. This accumulation by central banks has helped sustain the price of gold, highlighting its status as a safe asset. Regarding investment strategies, some analysts suggest that gold's price may undergo a correction after its recent rally. For example, technical analysis indicates a potential short entry at $3,125 per ounce, with a profit target of $2,925, anticipating a retracement of about $200. However, it is important to consider that gold price forecasts can be influenced by various unpredictable factors, such as economic policies, geopolitical developments, and market dynamics. In summary, gold has benefited from a significant increase in value due to the uncertainty arising from trade policies and concerns about geopolitical conflicts. Its nature as a safe-haven asset has attracted investments from both institutional investors and central banks. However, trading strategies, such as short positions, should be evaluated cautiously, considering the volatility and uncertainty that characterize the gold market.
VANTAGE:XAUUSDShort
by Generazione_X
2
The more you rise, the harder you fall, or what?The month of March has been a strong month for the TVC:GOLD bugs. The commodity has been hitting new highs every week. Let's see where the next target could be. MARKETSCOM:GOLD Let us know what you think in the comments below. Thank you. 74.2% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK. Cryptocurrency CFDs and spread bets are restricted in the UK for all retail clients.
MARKETSCOM:GOLD
by Marketscom
1
SELL SILVER ( XAGUSD)for bullish trend reversal STOP LOSS : 3SELL SILVER ( XAGUSD)for bullish trend reversal STOP LOSS : 34.24 Regular Bearish Divergence In case of Regular Bearish Divergence: * The Indicator shows Lower Highs * Actual Market Price shows Higher Highs We can see a strong divergence on the MACD already and There is a strong trend reversal on the daily time frame chart..... The daily time frame is showing strength of trend reversal from this level resistance so we are looking for the trend reversal and correction push from here ..... TAKE PROFIT : take profit will be when the trend comes to an end, feel from to send me a direct DM if you have any question about take profit or anything Remember to risk only what you are comfortable with…….trading with the trend, patient and good risk management is the key to success here
FOREXCOM:XAGUSDShort
by BALE_FX
Bearish drop?WTI Oil (XTI/USD) is reacting off the pivot and could drop to the 1st support. Pivot: 69.68 1st Support: 66.60 1st Resistance: 71.29 S&P500 (US500) is falling towards the pivot which acts as a pullback support and could bounce to the 1st resistance which is an overlap resistance. Pivot: 5,405.74 1st Support: 5,176.07 1st Resistance: 5,769.85 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:XTIUSDShort
by ICmarkets
2
Nat Gas Report 3/29/25: Can you shoulder the shoulder? Well, after much fanfare it is finally here! No, not the SSW event, not the Liberation Day (Trump’s April Tariffs), but the shoulder season! That important time of the year for energy traders to watch the price of NG drop faster than Trump’s current approval ratings! The cyclical trade in energy warrants a movement of funds this time of the year to Crude oil, then eventually Gasoline. As discussed, a few weeks ago this constant movement in energy trades keeps the asset allocations inline with seasonal trends in energy usage and the funds fat and happy. But this year we have the ultimate monkey in the works, true market dynamics! Although with the upcoming Liberation Day tariffs starting this coming Wednesday, 4/2/25, the market once again is on edge with the unknown unknowns! As the broad equity market has sold off this quarter, we have seen a movement into commodities, especially NG (sorry Gold bugs!). The underlying weakness in global oil demand, and the inability for oil producing nations and majors to temper supply has led to a glut in worldwide crude stockpiling. Yesterday’s Crude Oil COT report showed commercials with a net short position of -208,888 (an increase in short positions by 3,580 from the previous week) and non-commercials who are net long +197,061. This is not a common seasonal response in the Oil markets. Normally the December to May timeframe is a season of oil accumulation by major traders and the petro industry. This demand is not without purpose; it marks the onset of preparations for the impending summer driving season. Refiners embark on a strategic accumulation of crude oil inventory for gasoline production, laying the groundwork for oil price increases in the months ahead. But with softness in the overall global markets, downward revisions in GDP, Trump tariff uncertainty, and the big electrification to the transportation sector. There is a bearish undertone to the global oil and gasoline market this year. Remember what was discussed. The global nature of institutional energy traders is to trade crude in the spring (as NG sells off), gasoline in the summer (as oil sells off), NG in the fall (as diesel sells off), and diesel/heating oil in the winter (as gasoline sells off). This round robing of trades allows the savvy trader to expect entry and exit points, or to determine the overall direction of seasonal trends. But throw that out this year! The past few months NG and Oil have been trading inversely with each other, almost to the dollar! So, that leaves us with a tremendous amount of allocated worldwide capital in the one energy trade left. NG! But, not without merit! Natural Gas has a tremendous amount of underlying fundamental support. Lower than normal storage (currently 6.5% below 5-yer average), increasing power generation demand, increasing exports via pipeline to Mexico, increasing LNG export (currently hit a record at 16.7 BCF/d this week and expected to hit 18 BCF/d next month), and stagnant production (NG rig count down 9% y/y, oil down 4.5% y/y). The producers have finally understood that producing too much NG will probably affect the price in a negative way. Last week’s energy conference in Houston, TX had one general theme from all the energy majors. Supply restraint/discipline and an increase in infrastructure. There must have been some concerted effort, because the catch phrase all week was not “Drill baby Drill” but “Build baby Build” The discussion was that Trump’s lowering of barriers for pipeline construction and LNG export facilities is what is going to give them a reason to drill. But, for the time being they need takeaway capacity. They will continue to keep rigs out of the field until that happens. Imports from Canada are at a 2-year low, due to the increase in heating demand in Canada, due to the SSW event taking hold up north. Increasing demand, stagnant production = higher prices! Weather related demand has decreased with the unusually warm March. But the SSW event is now affecting Canada. If not for the main Pacific Teleconnection, the EPO, this cold bottled up in Canada would have brought seasonal temperature to the US. But!!!!!!! Now the EPO(negative) Teleconnection is aligning with the SSW event and the models over the past week have been printing colder. I expect the month of April to end up below average. Which could possibly lead to one, maybe to more storage withdrawals, outside the withdrawal season. As of earlier this week, April is now projected to end the storage deficit created during the withdrawal season. But if we can head into the month of May with a continued deficit, we can expect elevated prices for the summer strip. The summer forecasts are currently coming out, which is showing dry and hot conditions from the Rockies west to the Mississippi River. The current storage deficit in the South Central region (-10.5%) and the Midwest (-16.2%), will be the main driver for price appreciation due to weather related issues. Years that had a SSW event in the months of March and April, statistically have very hot May and June months that follow. This kick start to the summer cooling season is another reason for the predicted elevated prices this summer. This is not 2024! Do not expect for historic low process to return, bar a pandemic or a worldwide global recession. There will be price volatility, but not a complete dropping of the floor price. Near term pricing: Ever since moving above the 100D SMA back at the end of December the 50D SMA has held up wonderfully as support during last four months. Since Tuesday the 50D SMA has continued to hold, except for a brief 12 hour period, but the price showed bullish support by retracing, touching and bouncing back off. The weekly low bounced off the lower SD of the BB. This another bullish conformation. The weekly low dropped below the 38.2% fib level and reclaimed upward momentum, another bullish sign, only to move up past the 50% fib level. The psychological 4000 level, another bullish indicator. When technical and fundamentals align, we should pay close attention and listen! I am watching 4170, 4252, and 4316 for my immediate term resistance levels. If 4316 is broken, the upper BB SD and the 78.6% swing retracement level 4570 is next. For support, 3953, 3854, 3729. If there is a break below the 3729 then the 23.6% swing retracement level at 3560 would be up next. I am of the belief that the market is expected to travel higher. But there are many reasons for continued range bound days. So, I will be setting these levels to range trade until I see an indication for otherwise. Keep it Burning!
NYMEX:NGK2025
by NrG_Trader
3