gold is the perfect commodity that we have and when you are trading then you will get to know that in futuere you will learn more about gold for example what affects it and by how much .
Thread: Gold
gold is the perfect commodity that we have and when you are trading then you will get to know that in futuere you will learn more about gold for example what affects it and by how much .
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Hamzagoroo (2019-05-25), zainm6050 (2019-03-18)
As seen on the daily chart, gold is testing MA200 around 1660, break below this area could trigger further bearish momentum targeting 1645 for nearest term. We still prefer bearish outlook as long as prices stays below 1703 area. Immediate resistance is found at 1685 region.
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Hamzagoroo (2019-05-25), zainm6050 (2019-03-18)
Gold was opened today, below the pivot line, now we're waiting for a pivot break. Once it happened, gold may rise to 1695.40, however if it fails to break the pivot, gold may fall to 1653.40
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zainm6050 (2019-03-18)
Gold has cruised through 1672.00. Breakthrough at 1672.00 will come down to an area of 1640.00 before up. Consider the fact that the reinforcement has up through the range of 1672.00 to 1755.00, enabling breakthrough after a sharp intraday setbacks yesterday and above 1700.00.
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Hamzagoroo (2019-05-25), zainm6050 (2019-03-18)
Spoiler:
On hourly chart below price is 12 EMA (red) and 72 EMA (blue) indicates the trend is still down
21 RSI is below 50 indicates the trend is still down
Recommendation: SELL
Take profitt: 1676.50
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zainm6050 (2019-03-18)
Gold is currently testing the intermediate resistance of its medium-term bearish channel at 1,705. It seems that a decline was initiated. However, a break of these levels will free a large potential and reach the upper limit of its channel at 1,715.
Technical indicators do not provide clear signals, but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands have stabilized showing a more regular volatility.
Gold is currently testing the intermediate resistance of its channel, we suggest 2 scenarios. The first one is the hypothesis of a decline where we recommend a sell on the level of 1,705 with the 1st objective at 1,695 and then at 1,692. A breakthrough of 1,708 will invalidate this scenario. The second scenario is a break of its resistance where we advise a buy stop which means to buy gold as soon as it is broken through its resistance of 1,705 with the 1st objective at 1,715 and then at 1,718. A breakthrough of 1,702 will invalidate this scenario.
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Hamzagoroo (2019-05-25), zainm6050 (2019-03-18)
Gold markets did very little during the session on Friday as we continue to tread water around the $1700 level. Just below, we see quite a bit of significant support all the way down to the $1680 level, and as such we would be looking for some type of supportive candle like a hammer or a green one to start buying this market presently.
A long-term trend is far too bullish for us to start selling, and as you know by now we hold physical and ETF forms of gold also. Because of this, we are never actually short the market, and will only buy these futures contracts on signs of support or strength. We presently believe that we are in an area that could very well provide a supportive candle, and are simply waiting to see that in order to start buying.
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Hamzagoroo (2019-05-25), zainm6050 (2019-03-18)
//////Continue to hold the purchase of gold, the price went up to two strong oblique support levels around them is consolidation, as MASD formed divergence followed by a buy signal, the goal I have is still near the top of the inclined boundary./////
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Hamzagoroo (2019-05-25), zainm6050 (2019-03-18)
GOLD (Spot) intraday: the downside prevails.
Our preference: SHORT positions below 1700 with 1684 & 1678 as next targets.
Alternative scenario: The upside penetration of 1700 will call for 1712 & 1722.
Key levels Comment
1722** Intraday resistance
1712** Intraday resistance
1700*** Intraday pivot point
1699.87 Last
1684** Intraday support
1678** Intraday support
1672*** Horizontal support
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Hamzagoroo (2019-05-25), zainm6050 (2019-03-18)
Gold prices rose slightly recovered from recent losses on the prospects of monetary stimulus in Japan.
The February spot gold prices rose by 0.12 % to $1,699.6 per ounce on the COMEX today.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
zainm6050 (2019-03-18)
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