astro22

astro22

On the 23rd of November 2022, Gold found support at 1727.66 which is July last week, where it climbed and didn't look back. In 27 December 2022, Gold resisted at 1827.31 which is June last week. Now lets follow the same dates on my modified RSI. What we clearly see is that price momentum is being pushed in a downward direction. Which can suggest that, the price of...

astro22

As seen from last week CPI data which drove gold prices high, breaking 1809.47 1st week of July level. Bulls drove price back below That level testing it multiple times. Yesterday with the long awaited Q4 interest rate decision from the FED. which as expected was increased by 50 bias points to 4,5%. Markets reacted very bearishly to later re-gain losses. Today,...

astro22

In my look bearish move still too form. A divergence is exprienced only if bearish hammer candle in 15min timeframe holds. Then a confirmation can be taken once price move below MA and holds. Then i see no reason of a possibility in reaching 1747.5 level for a retest or break towards 1742.35 2nd week july as a low,which coincides with 1809.47 1st week july as a...

astro22

Gold broke 1st week july resistance of 1809,47. Got rejected and rebounded to a low of 1765,91 where 2nd week august got broken and tested August 1st week. Ranged between the two. Yesterday a break was experienced on 2nd week august, suggesting a target to 3rd week at price 1802. On other hand a fakeout breakout can be the case suggesting last week august is the...

astro22

From my technical view as much as Gold is bearish, it appears to be Oversold thus possibly a divergence is forming if so taking longs will be an idea for a short outlook.

astro22

At glance we see a down trend based on moving averages. With the yellow being tested and rejected multiple times. Suggesting further downward move can be expected. Zones 1 has bin a str9ng hold for gold. Patience is key for long term trades as a break on upside or downside would suggest further moves. Short term possible selling is availible but will be watching...

astro22

Please take note this is not trading advice but some idea's on how Gold might react today. From my point of view we have experienced a Golden cross on MACD at -6.590 approx. which would suggest a shift in momentum from Short to Long. RSI is resisting firmly above 50 which might indicate buying strength. Stochastic is also lingering above 50 suggesting momentum...

astro22

The idea is goes with following highs and lows. with the trendline drawn using Monday and Tuesday lows and highs we got a nice looking upward trendline. All we need is validation from a reject from 1735 zone to buy. A break will mean further selloff.