Gold completes a bullish break of a rising wedge pattern on the daily chart. RSI is overbought and showing signs of a possible consolidation or retracement. A very interesting story about a gold futures trader who did not close his position in time. Rising Wedge Update Last week we looked at the rising wedge in Read More…
Gold is now only 12% away from 2022 highs. Critical technical indicators that help us understand recent price action. Analyzing an Orderblock and Moving Average Band for Improved Entries. Gold Up 2.6% So Far in 2023 It’s been a positive start for Gold, with the yellow metal up 2.6% in the first week of trading Read More…
There is a minor support zone at $1,786 we are still monitoring closely Rising wedge, triple bottom, and bearish divergence are giving clearly defined targets Recap From December 7th The minor support zone at $1,786 is back in play once we mentioned GC may bounce out of it from our analysis on December 7th. Gold Read More…
Gold retracement gives a possible long reentry for the Bulls. Rising wedge pattern identified on the 4-hour time frame. Market overview as we approach the Fed meeting next week. Quick Recap Gold Futures pushed through the $1,780 level mentioned in our analysis on December 2nd. The price has retraced from a recent high of $1,822.9 Read More…
The first target of $1,780 is very close to being hit as Gold rallies. Potential catalysts that could send the price lower. Quick Recap On Last Week’s Gold Analysis The bounce off the 100 EMA, Point of control, and 0.236 Fibonacci retracement level has already resulted in Gold gaining about 25 points since we did Read More…
Technicals appear bullish in the medium term for Gold. Analysis of the volume profile, Fibonacci retracements, and 100-day Moving Average. Entry and stop loss placement ideas. Daily Chart Analysis In our previous article, we indicated that even though Gold was rallying with strong intent, there was no point chasing the market, but rather ideal to Read More…
