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Will Gold Prices Bounce Or Slide?The gold market is currently experiencing high volatility, making it essential to exercise caution. Key levels to watch: - Break above 2523: Potential buying opportunity - Break below 2518: Potential selling opportunity Traders are advised to closely monitor these levels and adjust their strategies accordingly. Stop-losses (SLs) are recommended to mitigate risk. Stay vigilant and adapt to market changes to capitalize on potential trading opportunities.
FOREXCOM:XAUUSD
by sabellaFX
2
Nvidia: DownhillNVDA has completed the green wave (X) and started descending toward our blue Target Zone between $91.30 and $76.02, which should mark the joint low of waves (Z) in green and A in beige. From this range, the beige five-wave downward move should continue, layawaying along the boundaries of our pink triangular trend channel to finish the large wave (IV) in blue. This final overarching low should take the form of a truncation, i.e., a shortened correction, and initiate a new uptrend above $137.32. However, it is 30% likely that the blue wave alt.(IV) has already concluded, which would result in a direct breakout above the $137.32 mark.
NASDAQ:NVDA
by MarketIntel
#SPX intermarket analysisAs observed, the SPX and Copper have shown a strong positive correlation over the past few weeks, often forming tops and bottoms simultaneously. Given that Copper recently failed to break above a long-term bearish channel upper line and has broken its structure to the downside, we might expect a similar move in the SPX. However, when trading SPX based on this intermarket analysis, it's crucial to wait for a price confirmation in the SPX itself before taking any action.
FX:COPPERShort
by mohemati
Apple: Near the summitApple should be on the last meters of the turquoise wave B. As soon as the high is established, we expect a final sell-off. For the end of the corrective movement, we have added a magenta-colored Target Zone (between $192.02 and $172.34) to the chart. Investors could establish long positions there, with stops placed around 1% below the lower edge. With the low in place, we expect a rise above the resistance at $254.30. Should this level be broken earlier, our alternative scenario (34%) will come into play. This wave count sees the last local low as the low of the magenta wave alt.(2).
NASDAQ:AAPL
by MarketIntel