AndeWave

AndeWave

The gold touches the level of 1824 (strong consolidation resistance), makes a false-break and closes on Friday at the daily high, and today, since the session opening, the gold renews the local high. 1) False breakdown of the support at 1824 may provoke ending of the correction and resumption of growth. 2) Friday's candlestick closes above the opening and above...

AndeWave Updated 

Gold rallied 3.8% on Friday and is now hitting local resistance. What's in store for Monday and the week ahead? Let's find out! 1) The price reacted too easily and too fast to the white rising support, so there is a chance of a pullback to 1843 and a retest to the white rising support (long consolidation or false-break). 2) Gold, as I mentioned in Friday's...

AndeWave

There is a chance that the gold will finish its correction phase at 1808-1810. Let's analyze why: 1) The global Gartley pattern makes us understand that this phase and this movement fits into the category "correction". 2) The strong uptrend line, which plays the role of support. The price reacted to it many times, which tells us about the support zone in this...

AndeWave

Gold is testing the upper boundary of a strong consolidation. Perhaps price needs to go deeper to capture liquidity, but by how much? 1) The close of today's candle will determine the potential for Monday. If price closes above the level (not tight) there will be a chance for a pullback to 1840-1850 2) The close of the candlestick is very close to 1824, or the...

AndeWave

Gold can't get back behind the local line and is forming a consolidation below. The potential for a move lower is likely to be gathering 1) The daily chart is hinting at an impending decline 2) Price is consolidating under the liquidity zone 1840 3) Only bearish set-ups for the daily and medium-term potential are forming at the moment 4) Breakdown of the local...

AndeWave

Gold continues to decline. Yesterday's candlestick closed close to its low, which suggests that the decline will continue 1) Local trend is bearish. 2) The price tends to the 1823 liquidity area. 3) Below 1823 is the contagion zone and it will be very difficult for the price to pass 4) Daily RSI is in the oversold area, in the near future the indicator may show a...

AndeWave

Gold breaks the local support and forms a momentum, where the price will stop, we can only guess from the history. Presumably, this is the support area of 1825. 1) The bearish impulse can stop near the blue area, which is a rather strong support level 2) The global trend (if you pay attention to the lower charts) is still bullish 3) The problem is that the...

AndeWave

Gold's consolidation reveals its potential. Price from the 1870 area forms an impulse to 1824 1) The price is in the 1870-1824 range. We are waiting for the test of the lower border. 2) Correction phase, it is impossible to speak about change of the global trend at the moment 3) From the 1824 area I expect a pullback to 1830-1840. 4) Entry points for sales at...

AndeWave

Metal consolidates under the area of higher liquidity and starts to form momentum 1) The price did not break through the 1863 area on the retest, bull market weakness is forming 2) Price consolidates under resistance 3) The next target is support at 1850 and 1840 4) A bearish momentum is forming. We are waiting for price decline and renewal of lows From the...

AndeWave

Gold updates the local low and is in a consolidation phase. 1) The price after Monday's bearish candlestick forms a pullback to the 1869 area. 2) The local trend is bearish. 3) The price has not yet overcome the local resistance levels, so we can talk about buying. 4) The 1869-1870 area may negatively affect gold and push it down. 5) Gold is in the 1869-1824...

AndeWave

Gold consolidates below the 1866 level, consolidation in the short zone prepares the price for the move to 1835 1) Consolidation in the area of 1866-1856 can send the price to 1835 in the near future 2) We focus on the support level of 1856-1854 to open sell orders 3) The local trend is bearish and the price is in the phase of implementation of the set "bearish...

AndeWave

Gold goes down from the local consolidation and prepares to fall further 1) The local level of 1858.97 is formed on the chart, a breakdown of this level will generate an impulse to go down 2) The price is in the correction phase, which after the second impulse may hint at trend reversal 3) The range of 1869-1824 is forming, the price can go to 1824 from the...

AndeWave Updated 

Gold is forming a transitional set-up and seems to be changing trend. A bearish takeover, the flag and the general situation looks rather negative for the gold market 1) The fundamental factor continues to weigh on the futures price quite strongly. 2) At the same time the central banks of many countries, which are set to reduce the impact of dollar on their...

AndeWave

Gold behaves predictably. Everything is according to the script and the plan! The price goes out of the pattern in the right direction and opens the potential for sellers 1) The price forms a slight correction to the previously broken support line 2) A reversal candlestick is formed and in fact the price fixes under the level 3) The flag may end up in the area...

AndeWave

Gold, as I said yesterday, is making a strong fall from the 1890 area and breaking through the key support at 1869. The fall might continue! 1) Yesterday's session closes under the level of 1869. 2) The bearish absorption is formed, which is a strong signal for falling. 3) There is a potential for movement to 1824. 4) There may be prerequisites for a change of...

AndeWave Updated 

The gold is in the correction phase, but something tells that the price will not go higher than 1890, and rather it will break the support of the local rising correction and will go towards 1840-1830 area 1) The price is slowly consolidating around 1875, there is no growth and no fall, the ostensibly-visible local lifting is formed in the channel, but it does not...

AndeWave

Gold stops and a slow consolidated pullback. Today there might be a retest of 1890 resistance with a long candle and the price might fall to 1869 (Trade carefully!) 1) The last three daily candlesticks are a consolidation format. Slow movement and long shadows pointing up 2) Market maker is gaining liquidity at the expense of buyers 3) The strong zone of 1890 and...

AndeWave

Gold enters a new local range and forms a retest of support at 1879. From this level, the price can go to the area of 1900. 1) The situation is bullish for now 2) The price consolidates above the liquidity area 1870-1880 2) The next target with active growth is the liquidity area 1910-1920, followed by 1920-1930 3) The trend is still bullish, the priority is to...