goldenBear88

goldenBear88

Gold reached the #1,589.70 mark yesterday but didn't break it, and instead made it a Support as the Buying pressure from the Hourly 4 chart #MA50 weighed more with DX dip in addition. The price is rebounding back to yesterday's Asian session Low’s #1,588.70, Hourly 4 is fully Bearish but Daily chart remains Neutral. Hourly 4 chart printed Descending Channel and...

goldenBear88

Gold has eventually tested (or better yet currently below) the #1,595.70 Support that I have been referring to since March #12, which is the symmetrical level from the September #24th High (Lower High of last year's downtrend). Gold easily dipped yesterday and almost touched #1,565.70 second strong Support. This is a strong Short-term Support level to consider and...

goldenBear88

Gold has eventually tested (or better yet currently below) the #1,595.70 Support that I have been referring to since March #12, which is the symmetrical level from the September #24th High (Lower High of last year's downtrend). Gold easily dipped yesterday and almost touched #1,565.70 second strong Support. This is a strong Short-term Support level to consider and...

goldenBear88

I have closed my set of Sells with huge Profits from #1,638.70 till #1,590.70 (#48$ difference) and engaged new set of Sells with #1,540.80 as an first Target and #1,510.80 as an final extension. The current strong decline on the #1,590.70 Higher Low came as no Technical surprise as it is next to the Daily market bottom (February 20th). Gold is trading on my...

goldenBear88

I have closed my set of Sells with huge Profits from #1,638.70 till #1,590.70 (#48$ difference) and engaged new set of Sells with #1,540.80 as an first Target and #1,510.80 as an final extension. The current strong decline on the #1,590.70 Higher Low came as no Technical surprise as it is next to the Daily market bottom (February 20th). Gold is trading on my...

goldenBear88

The Hourly 4 Ascending Channel is widely broken and currently trading within Rising wedge #1,640.80 - #1,605.70 on the outcome of the Oil collapse, and immediately pulled back, trading now on its Higher Low trend line whose limit is #1,595.70. Any break below that price should result to a test of the Hourly 4 #MA50. This is the key for the downtrend: if the...

goldenBear88

The Hourly 4 Ascending Channel is widely broken and currently trading within Rising wedge #1,640.80 - #1,605.70 on the outcome of the Oil collapse, and immediately pulled back, trading now on its Higher Low trend line whose limit is #1,595.70. Any break below that price should result to a test of the Hourly 4 #MA50. This is the key for the downtrend: if the...

goldenBear88

As expected Gold broke through the Lower High trendline (which was holding since #1,670) and as the #1,590.80 - #1,600.80 Support zone held, Gold turned Neutral again on Hourly 4 chart. On Friday I expected really flat session which actually happened, without any major changes. The main driver behind it is of course the pullback on DX and Bonds, and at the same...

goldenBear88

As expected Gold broke through the Lower High trendline (which was holding since #1,670) and as the #1,590.80 - #1,600.80 Support zone held, Gold turned Neutral again on Hourly 4 chart. On Friday I expected really flat session which actually happened, without any major changes. The main driver behind it is of course the pullback on DX and Bonds, and at the same...

goldenBear88

Following yesterday's historic spread divergence Xau-Usd and futures are attempting a balance but are still far off. My focus is on Gold’s Spot prices which pulled back on the Asian session but seem to use the Hourly 4 #MA200 as a Support early in the E.U.. So it becomes obvious that Technically Selling can be done if the Hourly 4 MA200 breaks (now #1,595.80) with...

goldenBear88

Following yesterday's historic spread divergence Xau-Usd and futures are attempting a balance but are still far off. My focus is on Gold’s Spot prices which pulled back on the Asian session but seem to use the Hourly 4 #MA200 as a Support early in the E.U.. So it becomes obvious that Technically Selling can be done if the Hourly 4 MA200 breaks (now #1,595.80) with...

goldenBear88

Long Term: I am beginning to see a similar pattern emerge as Gold prices stabilized over the past week and rallied today as the Fed introduced new liquidity injection facilities with this morning's announcement. Gold's recent slip is similar to what happened in #2008. All metals rebounded when the Federal Reserve announced quantitative easing in Nov #2008. By my...

goldenBear88

Long Term: I am beginning to see a similar pattern emerge as Gold prices stabilized over the past week and rallied today as the Fed introduced new liquidity injection facilities with this morning's announcement. Gold's recent slip is similar to what happened in #2008. All metals rebounded when the Federal Reserve announced quantitative easing in Nov #2008. By my...

goldenBear88

Even though the price broke the Lower High trendline yesterday, it failed to test the #1,635.70 Resistance, so Technically it is still under a Higher High and should turn back any moment. Like I said before as Long as the #1,635.70 Resistance Zone holds, Gold is Neutral/Bearish on the Medium term. The Hourly 4 #MA50 is still untouched (Gold is not headed that...

goldenBear88

Even though the price broke the Lower High trendline yesterday, it failed to test the #1,635.70 Resistance, so Technically it is still under a Higher High and should turn back any moment. Like I said before as Long as the #1,635.70 Resistance Zone holds, Gold is Neutral/Bearish on the Medium term. The Hourly 4 #MA50 is still untouched (Gold is not headed that...

goldenBear88

I closed both sets of Buys with huge Profits as Gold printed aggressive Bullish Gap towards my Target which I was waiting for. Gold has finally entered the #1,570.80 - #1,590.80 Zone which has seasonally been the strongest Selling accumulation point since #2014. Daily chart is naturally stabilized as I shift my focus on Weekly and Monthly chart, both of which are...

goldenBear88

I closed both sets of Buys with huge Profits as Gold printed aggressive Bullish Gap towards my Target which I was waiting for. Gold has finally entered the #1,570.80 - #1,590.80 Zone which has seasonally been the strongest Selling accumulation point since #2014. Daily chart is naturally stabilized as I shift my focus on Weekly and Monthly chart, both of which are...

goldenBear88

As expected Gold made a strong Technical rebound provided by the Weekly #MA50 (the candle is still open of course but this is the reason behind it) and my #1,590.80 break out condition has big chances to be met. The Hourly 4 chart printed an evident W formation and now on a Higher High for the first time since March 9th and the #1,680.70 peak. Even Daily switched...