The weekly chart shows a triple-top reversal pattern forming, with resistance around $2088. This is a pivotal zone – if price can break out above $2088 decisively, it would invalidate the bearish pattern and imply an upside breakout. However, failure to break resistance could confirm the pattern and precede a downward move. The weekly RSI Read More…
On Thursday, gold stabilized after a four-session decline as investors prepared for the upcoming US non-farm payroll data. This report could impact the Federal Reserve’s interest-rate decisions. Jim Wyckoff, senior analyst at Kitco Metals, mentioned the need for a fresh spark in the gold market to start a rally. According to Wyckoff, stronger jobs data Read More…
After gold made an all-time high a few weeks ago, the yellow metal sold off, and the chart turned bearish very quickly. The bulls will be happy to see that the selling pressure has softened and a new rally has begun. GC is now getting very close to the previous all-time high, where we saw Read More…
Gold prices rose on Thursday as US economic data heightened expectations of a Federal Reserve interest rate cut in March next year. Data revealed a 4.9% annualized growth in US gross domestic product for the last quarter, a revision from the initially reported 5.2%. Moreover, there was a slight increase in weekly jobless claims. Spot Read More…
Introduction Gold Futures have shown remarkable resilience, breaking through a triple-top pattern and scaling above the previous all-time high in recent weeks. The only hurdle facing the bulls is the weekly bearish close from two weeks prior when price broke above the high, as we analyzed here. Weekly Chart Analysis The weekly chart illustrates a Read More…
Introduction NQ, like the rest of the world’s stock markets, is surging. Now trading at an all-time high. This week might be the first weekly close above the all-time high, which marks an incredible recovery after a 37% decline from its previous high back at the beginning of 2022. Let’s see what the charts tell Read More…
