Gold rebounded on Thursday from a momentary drop below the $1,900 psychological level, which was triggered by a series of strong US economic readings. Following the release of the data, prices dipped below $1,900 for the first time since mid-March. This drop was supported by a 0.4% strengthening in the dollar index, which made gold Read More…
Techncial recap Take a moment to review the analysis from June 12th here. The gap we analyzed has been filled perfectly, and an immediate bullish reversal followed. Now, bulls are pushing price up above the horizontal resistance line and attempting to break above the ascending triangle once more. Technical analysis Moving Averages: The 50 MA is sitting Read More…
Technical analysis MACD Divergence: This is the main focal point for our Gold analysis this week. It shows strong bullish divergence on the daily time frame. This is a signal that short trades are likely better to be ignored for now. It is not a direct signal to take longs though, we may see price Read More…
Gold reached a three-month low on Thursday and was on track for its most significant weekly decline since February. Gold prices declined as Jerome Powell, the Chairman of the US Federal Reserve, maintained a hawkish stance and indicated that the central bank’s tightening cycle is not yet over. Powell reiterated his belief that there would Read More…
Gold prices increased from a three-month low due to a decline in the dollar and bond yields caused by US economic data. The dollar dropped after the European Central Bank raised interest rates following the Federal Reserve’s pause in rate hikes. The European Central Bank lifted interest rates to a 3.5% high, indicating the possibility Read More…
Recap Our GC analysis has been spot-on since the start of these articles, and last week was no different. Today we will take a look at how the trade ideas from last week are coming into play today. Read the previous article here. Technical analysis 100-Day MA: Price is bouncing off the 100-MA on the daily. It Read More…
