WTI recovered insignificantly, bearish factors prevailedWest Texas Intermediate TVC:USOIL opened down to 68.94 USD/barrel as of the time this article was completed. The Paris-based International Energy Agency (IEA) warned last Thursday that global crude oil demand is cooling while output outside the Organization of the Petroleum Exporting Countries and its allies ( OPEC+) continues to increase. According to IEA data, the organization predicts non-OPEC+ crude oil production will increase by 1.5 million barrels per day from 2024 to 2025. The fact that supply is continuously expanding while market demand is not enough to compensate is the most noticeable pressure on the oil market at the present time. West Texas Intermediate crude fell about 15% this quarter on concerns about falling demand. The International Energy Agency said that global consumption growth in the first half of the year reached its lowest level since the epidemic. In that context, OPEC+, an organization of oil producing countries, postponed plans to relax supply restrictions, and Libya's oil output continued to decline. About supporting factors With the recent conflict in Libya and a series of geopolitical crises in recent years, the market is not without upside potential, although these factors have not yet had a profound enough impact on the market. common school. Combined with the fact that the Federal Reserve is expected to start cutting interest rates at its meeting next week after the labor market showed signs of slowing and traders are more optimistic that policymakers policy will cut interest rates by 50 basis points. Lower borrowing costs could support economic growth and increased energy demand. These may provide negligible fundamental support in the near term. However, the oil market needs to pay more attention to Supply - Demand and OPEC+ factors. Technical outlook analysis of TVC:USOIL On the daily chart, WTI crude oil recovered but remained in a long-term downtrend noted by the price channel and pressure from EMA21. Crude oil's fall below the 0.236% Fibonacci retracement level on the daily chart would open the door for a new bearish cycle with the target then at $67.25 in the short term, more so than $65.2. On the other hand, as long as WTI crude oil remains within the price channel, the downtrend remains dominant, but maintaining price activity above the 0.236% Fibonacci level will be the factor that pushes it to recover a little further with resistance near highest at 70.9USD. Looking at the overall picture, the trend of WTI crude oil is to decrease in price with technical levels that will be noticed again as follows. Support: 68.74 – 67.25USD Resistance: 70.28 – 70.90USDShortby Xayah_trading6
Gold at highs ahead of FOMCFundamental Analysis There is a lot of news next week: Core Retail Sales, CPI, FOMC, FED,... The focus is on the Fed's Interest Rate Decision, where officials will decide whether to cut interest rates in the United States. From a global perspective, this is a bullish scenario for gold, but it depends on whether interest rates will be cut by 25 basis points or 50 points, the former scenario may upset investors. The dollar is testing a strong support level and is only one step away from entering a new range of 100.6 - 94.6. A fairly wide channel, now imagine the potential of the market, with the index falling too much. Anticipating the news, traders may enter a profit-taking phase, which may form a small correction for gold (This is also the concern of whales, to reduce prices before growth). - Breaking the resistance level will be the impetus for continued growth. From the support level, there may be a false breakout or a further decline to the next zone Technical analysis On the daily chart, gold achieved the target increase sent to readers in the publication at the Fibonacci extension level of 0.618% and the increase slowed down, narrowing below this level. Looking at the overall picture, gold is still fully capable of continuing to increase in price when the Relative Strength Index RSI is sloping up with a large slope but has not yet gone above the overbought level, showing that the room for bullish momentum is still ahead. In the short term, as long as gold remains in trend and above EMA21, its trend is still bullish and declines that do not break these supports should only be considered as technical corrections without changing the trend. In the short term, if gold price is pushed above the 0.618% Fibonacci level, it will be eligible to continue to increase to the original price of 2,600USD and more than that, the 0.786% Fibonacci level of 2,612USD. SELL 2599 - 2601 Stoploss 2605 BUY 2567 - 2565. Stoploss 2561 BUY 2555 - 2553. Stoploss 2549by SHL_Trader11168
Uptrend Considering the price reaction in the green support range, it is expected that the continuation of the upward trend will be formed up to the specified resistance levels. If the price can cross the green support zone, the uptrend will endLongby STPFOREX2
9.16 Gold Short-term Operation GuideOn Friday, gold rose directly along the 2556 line in the early trading, rose to the 73 line in the European trading, and then fell back. In the evening, it rose again to the 80 line and then fell back. It hit a high of 86 in the late trading and then fell back slightly. Finally, the daily chart closed at 2579 with a big positive line. Looking back at Friday, the price basically went up in a step-by-step manner. There were corresponding adjustments at each suppression point, but the overall trend was still dominated by bulls. The cyclical double positive continued in terms of form. From the current market, the trend remains unchanged, but the market does not only rise but not fall. If we look at the symmetrical cycle of the form, today's expected rise and fall will close in the negative. However, the market broke through the big positive line last week, and it is not realistic to directly reverse the trend in the short term. The previous platform consolidation has become an important support for the re-upward movement. The daily chart reaches the upper acceleration line suppression area, followed by the oblique pressure of 2597. After the four-hour shock to the breakthrough of the upper line and the acceleration line, the short-term indicators have been seriously overbought, so today I am optimistic about the rise and fall, and the lower 30-minute lower line on Friday formed support for the upward movement. Today, the key support is here on the hourly chart lower line, followed by the four-hour upper line, so today's operation is long first and then short. Short term operations: BUY 2567, loss 2561, target 2582-92-97. SELL2597, loss 2603, target 2573-67-62-55by David_strategy112
SHORT COMING NOW OR NOT? HI FRIENDS, Currently, gold’s price action on the 4-hour chart is showing a cautious yet potentially bullish pattern. Gold is trading around the $2,580 mark as of mid-September 2024, staying close to the recent highs from the past few days, but there’s a lot of technical tension. The price recently confirmed a breakout above $2,517, hitting targets around $2,536 to $2,550, and 2585 which opens up the possibility for further upward movement if it consolidates above key levels . However, there is strong resistance near $2,585-90, and the next major catalyst could be macroeconomic data, particularly inflation figures, which are expected to influence gold’s medium-term trend. If the resistance holds and sellers take over, we could see a pullback toward support levels near $2,500 or even lower to $2,475 . In summary, while the market leans bullish, it remains vulnerable to external macroeconomic factors and short-term consolidation or dips so i am looking for a short to atleast 2570,2565,2525Shortby ForxTay2
XAUUSD 16 September 2024Here is a new intraday trade idea for Gold Spot (XAUUSD): Trade Setup Overview: Timeframe: 1H chart (for entry and precision) and 1D chart (for trend direction). Market Conditions Overview: Fractals: The fractals on both the 1H and 1D charts suggest a bullish structure with higher highs forming. Major Trend: The 1D chart is showing a clear uptrend, which we want to align with. Trade Idea: Buy Position (in alignment with the uptrend) Entry Point: Entry: A limit buy order at $2,579.00. This price level is a point of confluence with the most recent support zone and is close to the moving average on the 1H chart. The entry is based on a potential retracement from the current high, providing a low-risk entry point. Stop Loss: Stop Loss: $2,570.00. The stop loss is placed slightly below the recent support level on the 1H chart. This gives the trade enough room to avoid premature stop-out while minimizing risk. Take Profit (Target): Target: $2,595.00. This target could be where price may test before experiencing a retracement. Risk/Reward Calculation: Risk: $9 per ounce (from $2,579.00 to $2,570.00). Reward: $16 per ounce (from $2,579.00 to $2,595.00). Risk-to-Reward Ratio: 1:1.77 Trailing Stop-Loss Adjustments: Initial Stop-Loss: $2,570.00. Move to Break-even: When price reaches $2,586.00, adjust your stop to $2,579.00 (your entry price), ensuring the trade is risk-free. Trail Stop: Once the price reaches $2,590.00, trail your stop to $2,585.00 to lock in profits. Final Adjustment: Trail the stop further to $2,590.00 as price nears the target at $2,595.00. Volatility Consideration: The market has shown an increase in volatility in recent days, with rapid price movements. The trade has been structured to allow flexibility for small retracements while aligning with the overall bullish momentum seen on the higher timeframe. Final Recommendation: Buy at $2,579.00. Stop Loss at $2,570.00. Take Profit at $2,595.00. Trail stop loss for profit protection as outlined above. This trade follows the higher timeframe trend while aiming for a reasonable short-term profit.Longby therabbittradesUpdated 223
Historical high for pullback target 2500Historical high for pullback target 2500 Fundamental Analysis of XAU/USD US Federal Reserve Monetary Policy: Interest Rates: Higher US rates make the dollar stronger and reduce the attractiveness of gold, as the precious metal does not pay interest. Lower rates, on the contrary, weaken the dollar and increase demand for gold. Inflation: Gold is often used as a hedge against inflation. Rising US inflation could push gold prices higher. Economic and Geopolitical Risks: Gold has traditionally been a safe haven asset, which is in demand during times of economic uncertainty or geopolitical crises. Examples include global financial crises, military conflicts, and tensions between countries. US Dollar Rate: Since gold is quoted in dollars, the movement of the USD rate directly affects the price of gold. A weak dollar makes gold cheaper for foreign investors, which increases its demand. Gold Demand: Physical Demand: Industrial demand, jewelry demand, and investment demand (through gold ETFs) are also important for gold price dynamics. Central Bank Stocks: When central banks buy or sell gold, it can have a significant impact on its price. XAU/USD Technical Analysis Technical analysis uses price charts and indicators. Some popular methods of analysis include: Trend Lines: Analyze the long-term trend (upward, downward, or sideways). If the trend is up, gold may continue to rise unless there are signs of a reversal. Support and Resistance Levels: Identify key levels where the price has bounced or held off previously. These levels can be used to decide when to enter or exit a position. Indicators: Moving Averages: Used to analyze the general direction of a trend. A crossover of a short moving average with a long moving average from top to bottom may indicate the beginning of a downtrend, and vice versa. RSI (Relative Strength Index) indicator: Shows whether an asset is overbought or oversold. Values above 70 indicate overbought, below 30 indicate oversold. MACD (Moving Average Convergence Divergence): Helps to assess changes in the strength and direction of a trend. Candlestick patterns: Some candlestick combinations, such as Hammer, Engulfing, or Doji, can signal a price reversal or continuation of the current trend.Shortby AG_Fund2
XAUUSD - Today's Setup - 16/09Good morning, Traders! 😊 I hope you all had a great weekend and are feeling refreshed for the week ahead. I've spotted a potential buy zone where we might see a pullback—if gold gives us the chance to jump into a trade and continue the upward trend. 📈 At some point, we’re likely to see a healthy pullback, as gold is currently riding the momentum and climbing higher. I’ll be keeping a close eye on the charts, waiting for the right opportunity to strike. For now, this is the main zone I’ve identified. Wishing you all a profitable and successful week ahead! 💰🚀 Happy trading! 👊 Trade smart, not hard! Don't forget to follow and like the post ✅Longby alexm1011666
Gold: the sky is limitWeakening US inflation figures are impacting market sentiment that the Fed finally has a case for the rate cut at their September FOMC meeting. The price of gold started the previous week by testing the $2,5K level, while the rest of the week the gold was gaining further, reaching its highest weekly level at $2.585. This level was also marked as the new all time highest level for the price of gold. The metal is ending the week at the level of $2.576. The RSI reached the level of 68, which is quite close to the overbought market side. Still, a clear overbought has not been reached. Moving averages of 50 and 200 days continue to move as two parallel lines with an uptrend, without any indication of potential cross in the coming period. After a strong move to one side, it could be expected some relaxation in the week ahead. A short reversal might be in store for the price of gold in the week ahead, however, considering current demand for this asset, it should not be expected to make any significant move to the downside. There is some probability that levels around $2.550 could be tested. A potential for higher grounds could be expected in some other week. Also it should be considered that the FOMC meeting is scheduled for September 19th, when the Fed will decide on the potential cut of interest rates. Some higher volatility should be expected in the week ahead on all financial markets. by XBTFX9
Cup handle 1hWe can have possible cup handle 1h tf now NFP created handle. If this want be real, then 2540-50+Longby ReitakUpdated 111
Gold Thoughts 16-Sept-2024Happy New Week all, Kindly see my Gold thoughts for today. These videos are aimed at making you compare charts with mine if you are a price acton trader and use my thoughts to improve your skill. They are not meant as signals even if they seem like they are. I want you to learn and be great07:39by DrBtgar2
NQ longLooking for longs below the relative equal lows expecting higher prices since we got so close to those old highs would expect to see price reach for those before moving lower.Longby SayonaraSan0
Monday Market Analysis and SignalsGold fluctuated at a high level on Monday, and the current price is around 2586. Gold prices rose sharply last Friday, hitting a record high of 2586, with the largest weekly increase since early April. Optimism about the Fed's upcoming rate cut has driven gold prices higher, and capital inflows and the decline of the US dollar have also played a catalytic role. The latest data shows that market expectations for the Fed's 50 basis point rate cut in September have also heated up. Gold has been one of the best performing commodities among major commodities this year. So far this year, gold has risen by more than 20%, thanks to expectations of Fed rate cuts, strong central bank purchases and strong purchases in Asia. The safe-haven demand brought about by the increased geopolitical risks and uncertainty before the US election in November has also supported gold's record gains this year. Super central bank week will debut this week, and the Federal Reserve, the Bank of Japan and the United Kingdom will release their September interest rate decisions. The market generally expects this to be the starting point of the Fed's easing cycle. According to historical trends, gold prices tend to fluctuate higher before the Fed cuts interest rates, but after the Fed cuts interest rates, gold prices will usher in a wave of declines, and investors need to be vigilant. Technical aspect Technical aspect: The gold daily and weekly structure maintains a bullish trend. The MA10/7-day moving average of the daily chart maintains a golden cross and opens upward. The MACD kinetic energy column increases in volume. The price of the short-term four-hour chart forms 8 consecutive positives and ushered in a new historical high again. The price is running in the upper and middle track of the Bollinger band, and the moving average opens upward. However, the RSI indicator of the hourly and four-hour charts touches above 80 values, entering overbought, and beware of the short-term correction demand for gold prices. The trading idea at the beginning of the week is to follow the trend and go long at low prices. Trading strategy: 2570-2572 long, stop loss 2560, target 2590-2600; 2598-2600 short, stop loss 2610, target 2580-2570;Longby Jun-goldFX5
More Upside For XAUUSDAs Gold approaches the 2600 level, I'm anticipating some volatility around this resistance level before a continuation higher. FED cutting rates this week could push gold higher, especially if we see the DXY lose ground. However, volatility is could be high, with choppy price action around this resistance level. Look for short term upside scalps or to buy on retracement.Longby JinDao_Tai3
XAUUSD / TRADING BELOW RESISRTANCE TRENDLINEXAUUSD / 4H TIME FRAME HELLO TRADERS overall trading under downward pressure , until trading ATH prices below 2,589$ . Prices remain under bearish pressure as long as they are trading below the all-time high (ATH) of $2,589. Sustained trading beneath this critical resistance level indicates a continued downward trend, with an expected decline first targeting $2,570. If the price breaks below this level, the next support could be found at $2,551. However, should the price break above the $2,589 resistance level, confirmed by a 4-hour candle close above this threshold, a bullish reversal is likely. In this scenario, the price may rise to test $2,600 as the next resistance level. Further upside potential could push prices higher, possibly reaching $2,620 if buying momentum strengthens. UPWARD TARGET : 2,600$ , 2,620$. DOWNWARD TARGET : 2,570$ , 2,551$. Shortby ArinaKarayi5
Gold 16/9/2024Current Trend: Gold is in a strong uptrend across multiple timeframes, confirmed by breakouts and higher highs and lows. Buy Strategy: Look for buying opportunities as long as the 30-minute chart maintains its bullish structure: Wait for Bullish BOS: Look for a bullish Break of Structure (BOS) on the 30-minute chart to confirm continuation. Stay Above 20 MA: Ensure the price remains above the 20-period Moving Average (MA) on the 30-minute chart. Signal for Deeper Correction: Breakdown Below 20 MA or BOS 30 min down: If the 30-minute price closes below the 20-period MA, it may signal a deeper correction. Watch for further lower highs (LH) and lower lows (LL) for confirmation of a trend reversal. Longby hadi_a_hobballah1
Falling towards 50% Fibonacci support?USOUSD is falling towards the support level that is an overlap support that lines up with the 50% Fibonacci retracement and could reverse from this level to our take profit. Entry: 67.83 Why we like it: There is an overlap support level that lines up with the 50% Fibonacci retracement. Stop loss: 66.26 Why we like it: There is a pullback support level. Take profit: 70.43 Why we like it: There is a pullback resistance level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.Longby VantageMarkets7
silver on crucial resistance zonesilver again testing 90000 zone, this zone will clarify further direction of silver.by marketdetective0
9.16 Gold Short-term Analysis GuideLast Friday, an article from the "Federal Reserve's mouthpiece" once again fueled speculation that the Fed might cut interest rates by 50 basis points at this week's policy meeting. The dollar index continued to fall and once lost the 101 mark, but recovered some of its losses during the U.S. trading session and finally closed down 0.13% at 101.10. U.S. Treasury yields fell slightly, with the benchmark 10-year Treasury yield closing at 3.657%; the two-year Treasury yield, which is more sensitive to monetary policy, finally closed at 3.595%. The Dow Jones Industrial Average closed up 0.72%, the S&P 500 closed up 0.54%, and the Nasdaq closed up 0.65%. Trump Media closed up 7.62%. Today's focus: The eurozone will release the seasonally adjusted trade account for July; The United States will release the New York Fed Manufacturing Index for September; ☆ Closed reminder: Today, the Tokyo Stock Exchange, Seoul Stock Exchange, Shanghai, Shenzhen and Beijing Stock Exchange The market's expectations for the Fed's upcoming interest rate cut continue to heat up. , the market currently expects the Fed to cut interest rates by 50 basis points at the September 18 meeting to reach 43%, while the probability of a 25 basis point cut is 57%. This is the first possible rate cut by the Fed since 2020. The driving effect of the expectation of rate cuts on gold prices is obvious. The lower interest rate environment reduces the holding cost of gold and increases its attractiveness as a non-yielding asset. Before the Fed meeting, gold prices usually show a trend of fluctuating higher. However, after the rate cut, gold prices may experience adjustments. Therefore, investors need to be vigilant about possible market reactions. Monetary policy changes by major central banks around the world have an important impact on the gold market. The ECB's rate cut decision last Thursday reduced the opportunity cost of holding gold and further strengthened market expectations for loose policies. At the same time, U.S. inflation data has stabilized, providing the Fed with more room to consider rate cuts. With the easing policies of the Federal Reserve and the European Central Bank, the bullish sentiment in the gold market has significantly increased. In addition, the depreciation of the U.S. dollar against the yen has further increased market interest in gold. The strong performance of the gold market was also driven by fund inflows. Data shows that the holdings of SPDR Gold Trust, the world's largest gold-backed ETF, have reached their highest level since January this year. The World Gold Council (WGC) reported that global physical gold ETFs attracted inflows for the fourth consecutive month in August, which further supported the rise in gold prices. In addition, geopolitical risks are also an important factor in the rise in gold prices. Geopolitical tensions in major economies around the world have increased market uncertainty and further boosted demand for gold as a safe-haven asset. These factors, including the Russian-Ukrainian conflict and tensions in the Middle East, have prompted investors to put their money into gold to avoid potential risks.Longby David_strategy113
XAUUSD 9/16/24💹 Commodities: 👁️ Outlook 30m Context Time Frame: Price has been breaking bullish all last week. This week I am expecting price to definitely have some type of re-accumulation before another continuation because we are overextended on every time frame. Daly Bias: Waiting for re-accumulation before another continuation Keeping an eye on this. 👁️by angelvalentinx2
Gold, turn downIn my opinion, at the level of 2525 there was a price reversal on gold. It is confirmed by MACD and other indicators. I expect price movement down to the local line trends (watch the schedule) and further, in case of its overcoming, the movement to the purpose about 2160. Information provided is only educational and should not be used to take action in the market.Shortby Yuriy_KuznetsovUpdated 8
GOLD Will Go Higher! Long! Here is our detailed technical review for GOLD. Time Frame: 12h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The price is testing a key support 2,585.002. Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 2,655.358 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!Longby SignalProvider113