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…
There are predictions that the US Federal Reserve will raise interest rates more slowly. Consumer prices in the United States declined in December. Initial claims for state unemployment benefits decreased by 1,000 last week. Gold prices were expected to increase for a fourth straight week, helped by a weaker dollar and predictions that the US 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…
Indices are trading near 2022 lows Technical analysis on NQ, Gold & CL What we can expect from 2023 What We Can Expect From 2023 2022 saw the majority of markets take a free fall. NQ dropped over 32%, ES ended the year down 18%, and Gold, traditionally a safe haven ended flat on the Read More…
Gold prices remain sluggish above the $1,800 mark. China’s COVID spread lends support to the US dollar. Markets are eying China’s PMI data to be released on Friday. While Gold futures prices rose to an intraday high of $1,818, the market has been sluggish since early Friday. In addition to mixed headlines on recent key 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…
