Introduction Gold has been the standout so far this quarter as geopolitical tensions persist. It is not only acting as a safe haven, but the chart has some great formations we can take advantage of. The daily chart shows just how strong the trend has been since November 2023, with the 21-week Simple Moving Average Read More…
Chart Overview Trendlines and Channel (BULLISH):The chart shows a rising channel pattern. The price is bouncing between the top and bottom lines of the channel, and these lines are clear and strong. Candlestick Analysis (BEARISH):The recent candlesticks are a mix of green and red, and the latest one is a big red candle. This is Read More…
Introduction Last week, Gold was trending because of how close it was getting to breaking all-time highs. We finally saw that happen, and it was explosive. GC futures burst out of the all-time high, with the price surging 3.15% in 30 minutes. Let’s see what the technicals are telling us now and how we can Read More…
Technical Analysis Once gold reached a high of $2,085 this year, we saw an 8.8% retracement a few weeks back. GC has now settled at $1,960.3, and the price action is forming a rectangle formation that could send it soaring or crashing with great volatility. The last time we looked at Gold, we noted an Read More…
Introduction The most prominent feature on the Gold chart the last time we looked at it was the danger of a triple top formation on the weekly time frame. This is still a worry for the bulls but there is some hope for them in the form of a parabolic curve and a minor support Read More…
Intorduction Gold has been an exciting asset to watch in 2023 as there have been periods where it has followed the Dollar, which it generally should diverge from. The yellow metal was up 30% at a stage from its lows made in November of last year to the recent highs made in April, but there Read More…
