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GC1! (Gold Futures)

GOLD → Uncertain market. What should we expect?FOREXCOM:XAUUSD is forming a global range of 2070 - 1810. In a neutral market, the price may head down from the resistance, but we have an unstable fundamental environment. The market closes the second half of the new week in 2023 in a phase of uncertainty. The price is standing still. After receiving the news, the market quickly buys back the decline or sells off the rise, thus bringing the price back to the current range of 2050 - 2040. Wednesday through Friday the market receives bullish news for the US market, which technically should drop the price of gold. But the market is already overheated by the Fed's manipulation and is apparently getting ready for further rate cuts, which the US regulators may start in early spring . In this case, the TVC:DXY will begin to give up its positions, which will technically strengthen the forex market and including gold, silver and the cryptocurrency market. On the high timeframe ( 1 week ) we see the strength of buying power in the gold market. There is a reason for everything: fundamentals, geopolitics, problems in the US and European market, high interest in the metal from the central banks of many countries, which very actively continue to buy the metal. Technically, the price may test 0.382, 0.5, 0.618 fibo by spring before rising further. The positive sentiment is indicated by frequent resistance retests . Every next retest makes this zone lose strength, which technically brings us closer to the formation of a new bullish range after breaking the 2050-2075 zone. There is not much news in the coming week, important data may be released in the second half. The market may start the new trading week by continuing to forge a sideways range between 2050 - 2040 . But, a breakout of one of the mentioned boundaries followed by price consolidation above or below this level will form momentum towards the mentioned zones. Support levels: 2040, 2030, 2015 Resistance levels: 2050, 2058, 2069, 2075 The market may be temporarily affected by the bullish news for the US market from last Friday. Gold may start to decline to 2040 and retest 2030 as we saw sell-offs on Friday after stabilization. BUT! At the moment the market is unstable amidst uncertain potential. Proceed from these levels and your trading strategies. Regards R. Linda!
OANDA:XAUUSD
by RLinda
15
GOLD dropped sharply in the first session of the weekForecasting this week's gold price trend, Kitco News' latest weekly gold survey shows that 50% of retail investors participating in online polls on Main Street expect gold prices to increase this week. This and the rest forecast that the price will go in the opposite direction. Retail investors expect gold prices to trade around $2,049/ounce this week. Meanwhile, the majority of market analysts have an optimistic view on the yellow metal in the short term with 66% of experts participating in the survey predicting gold prices will increase. Walsh Trading's Co-Head of Commercial Hedging Sean Lusk is optimistic about gold, saying the precious metal remains supported by concerns surrounding conflict in the Middle East and seasonal factors. Lusk predicts that during the seasonal growth period from now until Valentine's Day, gold prices will reach 2,175 USD/ounce.
OANDA:XAUUSD
by Xayah_trading
GOLD → Will NFP weaken gold? What should we expect?FOREXCOM:XAUUSD is consolidating under a strong resistance level. Yesterday the gold market received negative fundamental data, in all likelihood, which will also affect NFP ( TVC:DXY ) On the high timeframe we see the formation of a resistance zone formed by several highs and levels. At the moment the focus is on the 2050 level. After a false breakdown and on the news on Thursday, a bearish consolidation is forming under the level to continue the decline. Based on the previous data, we have a high chance of seeing a negative NFP for gold. In that case, the price may head downwards. But, the problem with news is that it is unpredictable, The opposite of the expected NFP can strengthen the gold. Wait for the actual data. On H1, there is a possible resistance retest before further decline. Moving averages previously formed a trend change signal and now indicate a downtrend. Support levels: 2038.9, 2031, 2015 Resistance levels: 2049.3, 2058.3 Technically and fundamentally, the price is expected to decline towards the mentioned targets. But if the actual news data will be opposite to the expected ones, the market may behave unpredictably. Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
29
🥇 GOLD - Consolidation after false resistance breakdown GOLD is forming a bearish market sentiment after the false breakdown of 2047. Apparently, the market is forming a negative fundamental background and is preparing to make new lows. Technically, the bears continue to pressure the gold price and form a strong consolidation below the strong resistance Prerequisites for further decline: 1) NFP may have a negative impact on the gold price 2) Yesterday formed a negative fundamental background 3) Support retest 4) Price consolidation under the strong level of 2047.9
OANDA:XAUUSDShort
by AndeWave
1
GOLD → Correction phase, expect a fall, but news... FOREXCOM:XAUUSD is declining by 1.3% on Wednesday, the reason may be the fundamental nuances of the Fed, which is still trying to keep the market under control, hinting at both lowering the interest rates and raising them, to which the market reacts by strengthening the dollar. Today at 13:15 - 14:45 important news is published, which reflects both the situation with inflation and the position of the FED and FOMC. Fundamentally, analysts expect bullish data, which could technically strengthen the TVC:DXY , which in turn will weaken gold. Still, it is worth waiting for actual data that can provide insight into the medium-term outlook. On the chart we see the formation of a technical correction on the background of a bullish trend. The price is testing the resistance of 2050, it is possible that before the news the price may go higher and test 2058, 2065 before falling further. But, if the actual fundamental data is worse than expected, it could strengthen gold towards the current channel resistance. Support levels: 2042, 2037, 2033, 2030 Resistance levels: 2049.3, 2050, 2058, 2065 The news will give us insight into the medium-term outlook. Bullish news for the dollar will weaken gold and the price will continue the local downtrend. Bearish news for the dollar will strengthen gold and may reestablish the bullish trend Regards R. Linda!
OANDA:XAUUSDShort
by RLinda
10
XAUUSD Bear Flag on 4H.Gold (XAUUSD) eventually did get rejected on the 0.618 Fibonacci level as per our last week analysis (see chart below): This is so far consistent with all previous All Time Highs since August 2020 and our long-term target remains 1975. On the shorter term though we see a quick sell opportunity following today's bounce after the 4H MA50 (blue trend-line) break-out, as it is consistent with all such break-outs (red ellipses) within the 2-month Channel Up. Every Bearish Leg of this Channel Up declined by more than -4.00% but on our short-term horizon we will settle for a 2020 target, which will be a 1D MA50 (red trend-line) test. See also how consistent the 4H MACD sequences are. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDShort
by TradingShot
Gold likely to continue shining in 2024For over two years of publishing on TradingView, we have maintained a bullish stance on gold, which has been marching higher in tandem with our expectations. In 2024, our outlook remains unchanged, and we expect it to continue performing well amid the persistence of institutional interest, global economic slowdown, and geopolitical tensions. However, we also recognize a potential threat to its well-being, represented by the stock market weakness. This thesis is built upon the fact that gold has been climbing higher alongside stock market indices for several months, showing a positive correlation. Furthermore, we have seen a perfect example in 2022, when the stock market selloff forced investors to sell gold in order to cover losses elsewhere; we expect the same thing to happen in the case of prolonged weakness in market indices. Nonetheless, we do not have plans to sell our holdings; instead, we plan to accumulate more (if the opportunity arises). With that said, our long-term price target for gold stays at $2,300. Illustration 1.01 The image above shows the daily chart of XAUUSD and simple support/resistance levels derived from peaks and troughs. Technical analysis Daily = Bullish Weekly = Bullish Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor or any other entity. Your own due diligence is highly advised before entering a trade.
OANDA:XAUUSDLong
by Tradersweekly
5
GOLD → Correction Phase. How long will it last?FOREXCOM:XAUUSD is weakening on the background of growing TVC:DXY . At the moment, fundamental and technical indicators are diverging and the market is trying to collect maximum liquidity before further growth. On D1 we see the formation of a false breakdown of resistance 2075. The market is in global consolidation, but locally we have a downtrend forming. Technically, the price may test the local trend support, while the dollar seeks to test the resistance. Within the downtrend range, gold may bounce from support to resistance. This range formation is likely to continue until the end of the week. Support levels: 2048, 2030, 2010 Resistance levels: 2058, 2069, 2075 Fundamentally, the dollar has a weak support and should fall. But on the background of low market volumes, the market maker is collecting liquidity. It is likely that the gold may test the far support levels before rising further. Hence, the local bearish correction formation may continue until 2009 in the medium term. Regards R. Linda!
OANDA:XAUUSD
by RLinda
4
XAUUSD: Sell reversal inside the Channel Up.Gold has technically turned neutral on the 4H time-frame (RSI = 47.613, MACD = 2.720, ADX = 30.603) but remains bullish on 1D as it has started the bearish leg of the two month Channel Up. The 4H MA50 broke today for the first time since December 13th and that basically validates this short-term correction. Our target is the S1 level (TP = 2,016) which will make an ideal test of the 1D MA50. See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSDShort
by InvestingScope
GOLD → The bullish potential is back. December trap FOREXCOM:XAUUSD is starting to catch up with the bullish potential, which was forged at the end of 2023, when we received negative news for $. On D1 we see gold rising on the back of a weakening TVC:DXY . The price breaks through the important and historical resistance 2069 - 2070. A retest and consolidation of price above the level is forming. A price consolidation this week above this level will confirm the intention of the bull market. In this case, we may see a potential target in the form of: 2085, 2100 and even 2150. On H1, the price is updating the local support (false breakout) on the background of bullish news for gold. And this is a logical scenario before further growth. I warned you that before the growth, even on good news, the price can go down. Now it is important for us to see the price consolidation above the mentioned liquidity area. Support levels: 2075, 2070, 2069 Resistance levels: 2079, 2082, 2088, 2100 I expect growth after the price fixation above the mentioned support area. Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
10
GOLD → How will the news affect the price?FOREXCOM:XAUUSD is forming a strong bullish trend, but there are some preconditions on the chart, which in tandem with the news can form an unexpected scenario. Today is the last strong news of the year. Namely, at 13:30 GMT Initial Jobless Claims will be published. Overall, analysts are expecting 210K relative to the previous 205K. This is bad data. But a big role is played by the actual data relative to the expected data. If the data will be higher than expected 210K, the dollar may break the local support and continue its decline, which will strengthen the gold. If the data will be lower than expected 210K, then gold will catch a bearish wave on the back of dollar strength. Technically, we have a bullish trend, with strong support and liquidity area forming in the 2075 - 2069 area. On positive news for XAU the price may test this area and after a false breakdown head upwards. But negative news for XAU will break this area and could send the gold price to 2050 - 2047. Support levels: 2075, 2069.3, rising line Resistance levels: 2080, 2088, 2100. Technically, gold is ready to continue to grow and this will continue in the medium and long term, but locally, the news can unpredictably affect the price COMEX:GC1! COMEX_MINI:MGC1! TVC:DXY Regards R. Linda!
OANDA:XAUUSDLong
by RLinda
15
GOLD moving closer to the threshold of 2,100 USD/ounceToday's world gold price listed on Kitco is at 2,086 USD/ounce, up 20 USD/ounce compared to early yesterday morning. Gold prices continue to rise thanks to the weakening of the USD and falling Treasury bond yields. The USD has continuously decreased in recent sessions. The DXY index (measuring the fluctuation of the USD against a basket of major currencies on the night of December 27, Vietnam time) dropped to 101.3 points. In the past 2 weeks, this index decreased a total of nearly 2.6%. The attraction for international gold thus increased. Investors reflected the expectation that the US would reduce interest rates in 2024 during the recent increase in gold prices. This also means that when the US officially reduces interest rates, it is likely that gold will no longer have much motivation to increase its price strongly.
OANDA:XAUUSD
by Xayah_trading
GOLD → Trading inside the range 2050 - 2075FOREXCOM:XAUUSD has been strengthening since the opening of the session. Friday's sell-offs formed local support at 2050 (retest) after which a new range is likely to be formed. For gold we have a favorable fundamental background, which may have a positive impact on the price. While the TVC:DXY is declining, the gold is testing new highs. As there are a few days left before the New Year holidays, liquidity in the market is decreasing. Against this background, the price may end the trading session within the existing range of 2050 - 2075. I would advise to focus on the range trading strategy. On the chart we can see the key support lines: (rising line, 2055, 2051, 2050). There is a chance that the price may test these lines. The level of 2062, 2069, 2075 plays the role of key resistance. Pay attention to the schedule of your broker, so as not to open trades before the closing of the trading session. The volumes on the market are decreasing and in all likelihood the price may get stuck in the mentioned range. On Thursday, strong news is published, but until that day, gold may trade inside 2075 - 2050. Regards R. Linda!
OANDA:XAUUSD
by RLinda
14
XAUUSD Approaching the cyclical rejection level. Strong Sell.Gold (XAUUSD) hasn't so far diverged from the previous two ATH peak patterns (March 08 2022 and August 07 2020) as following this Cycle's new All Time High, it got heavily sold to the 1D MA50 (blue trend-line), which held and initiated a price rebound. This rebound sequence is now approaching the 0.618 Fibonacci retracement level, which is where the Lower Highs of the previous peak patterns were formed. The price got immediately rejected to at least the previous Low (in our case 1975). In 2022 the sell-off continued immediately, while in 2020 it was more structured and gave another Lower High to sell. As a result, we expect Gold to reverse soon within the 2070 - 2100 range and target at least 1975 by the end of January 2024. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSDShort
by TradingShot
1
GOLD goes up, USD weakensToday's world gold price listed on Kitco is at 2,067 USD/ounce, up 14 USD/ounce compared to early yesterday morning. Gold prices rose slightly thanks to the weakening of the USD and falling Treasury yields as expectations grew that the US Federal Reserve (Fed) would reduce interest rates next year. A weaker dollar makes gold priced in that currency more attractive to holders of other currencies. However, it is forecast that there will not be any major fluctuations in the precious metals market this week. The main factor supporting gold is still the expectation that central banks will be more dovish in monetary policy and interest rates will decrease in the next few years. Underscoring ongoing geopolitical tensions, it is likely that gold will remain above $2,000/ounce in 2024.
OANDA:XAUUSD
by Xayah_trading
GOLD still retains strategic value in the investment portfolioOn the world market, the world gold price stood at 2,059 USD/ounce, a slight increase of 6 USD/ounce compared to the same hour yesterday morning. The gold market is preparing to end 2023 with strong price increases. The US Federal Reserve (Fed) has signaled that it may cut interest rates three times by 2024. The Fed reduces interest rates, meaning the USD weakens, thereby supporting gold prices. Experts say that despite historical patterns showing mixed performance under different economic scenarios, the 2024 scenario, marked by geopolitical risks and strong central bank demand central, can change the normal trajectory of gold. Gold retains strategic value in investment portfolios, especially during times of economic uncertainty, providing stability and diversification.
OANDA:XAUUSD
by Xayah_trading
GOLD → False breakdown of 2070. Rollback to the end of the year FOREXCOM:XAUUSD strengthened quite actively last week. The price is retesting the resistance at 2069.8 formed in August 2020. There are reasons for further growth, but also reasons for further pullback. Let's see On D1 we can see that in the frame of distributive movement the price tests the resistance 2069.8 and forms a false breakdown, which activates a rather strong sell-off. A few hours before the end of the session the price loses 0.85%. In the coming week there is no news except Initial Jobless Claims , analysts are expecting an increase in claims from 205K to 210K. The GDP data weakens the dollar, the Fed's stance also suggests a possible rate cut next year, and in addition the inflation data . The overall fundamental background is unfavorable for the TVC:DXY and we see a decline in the index, which in the medium term is favorable for the gold market. Technically, there are a few days to go until the end of 2023, volatility and liquidity may decrease, but since Friday ended with a false break of resistance zones (2069.8, 2055), the current correction may last. The price may reach the support area before further growth. It is worth paying attention to the following levels: Resistance: 2055, 2050, 2065, 2069, 2075 Support: 2047, 2040, 2030, 2015 I advise you to study the work schedule of your brokers for Christmas and New Year holidays. Each broker determines its own regulations and therefore on these days some companies may work and others may not. Merry Christmas! Have a great holiday! Regards R. Linda!
OANDA:XAUUSD
by RLinda
6
GOLD the world market adds bullish factorsAt the end of last week, in addition to the US announcing a decline in GDP growth data, the market also received information that the UK's GDP growth also weakened by 0.1% in the third quarter of 2023. The Japanese economy said industrial production output in November is forecast to decrease for the first time in the past three months. Estimates predict that the country's industrial output will decrease by 1.6% compared to October. The expected production contraction in Japan is based on factors such as falling demand and a slowdown in global economic activity. The auto sector, a significant contributor to industrial production lost export momentum in November. The world's second largest economy, China, has a real estate sector that remains gloomy as house prices have fallen the most in the past 8 years. Although the Central Bank of this country has further lowered interest rates to recover the economy, the real estate sector has not shown signs of recovery. Thus, major economies are releasing third quarter economic growth reports and other related data, most of which have declining factors. Poor economic information supports gold prices to increase. Investors are still hoping that gold prices will increase during the New Year and Lunar New Year holidays when shopping demand increases. Today, the American and European markets are entering the Thanksgiving and Christmas holidays. However, Asian markets are still trading normally.
OANDA:XAUUSD
by Xayah_trading
XAUUSD: Bullish Cross on 4H inside the Channel Up.Gold has formed a 4H MA50/100 Bullish Cross, extending the rise of the bullish wave inside the Channel Up pattern. Naturally, the 1D technical outlook has turned bullish (RSI = 61.138, MACD = 13.480, ADX = 42.704) and the price can test the dashed HH trendline on a +6.45% rise like the November 28th High, which was the top before the highly distorted ATH of December 3rd. Our target is a bit lower on the R2 level (TP = 2,090). See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
FX_IDC:XAUUSDLong
by InvestingScope