Intro - We have the BEGINNINGS of a unproven intermediate triple top pattern. Details - Because of the spiral that makes this top so "circular", trend engine thinks this is signalling an incoming triple top. This is working draft, once it's ready I will send it.
World gold price (XAU/USD) decreased slightly yesterday after increasing to nearly reach 2,400 USD/ounce. According to experts, the reason may be due to profit-taking pressure after the strong increase the previous day. In addition, the recovery of the USD is also detrimental to gold. In the short term, the combination of stable inflation and weakness in other...
Gold prices are in a slight decline. The reason may be due to profit taking after increasing by more than 1% the previous day. The release of lower-than-expected US CPI and Retail Sales data for April has led to a change in expectations about the Fed's future interest rate path - an important factor contributing to the direction of gold prices....
This week, as signs of stabilizing U.S. inflation increased the possibility of the Federal Reserve cutting interest rates as early as September, spot gold was boosted and took the opportunity to rise. On Thursday, it once approached the $2,400 mark, and then began to fall back under pressure of $2,397. The European market continued to fall, and the US market...
Bank Nifty has not reached the X marked spot yet. A little higher ticks can be expected before it consolidates OR is shot down to a short term low. I will be more comfortable shorting Nifty at open.
The structure and momentum is good. Oil reversed after the news and showing signs of a new trend also IRAQ cut their supply which in turn will affect global oil supply.
The US April CPI posted on May 15 confirmed an growth of 0.3% final month and an growth of 3.4% over the identical duration final year. The US CPI growth in April changed into decrease than the forecast of monetary professionals collaborating in a Reuters ballot earlier, pronouncing that the CPI extended via way of means of 0.4%. Mr. Jim Wyckoff, senior analyst...
Gold prices steadied in Asian trading today after posting strong overnight gains as some mild inflation data dragged the dollar to a one-month low and raised expectations of a rate cut. capacity. The yellow metal has now returned to record highs reached in May, as traders bet more that the US Federal Reserve (FED) will start cutting interest rates as soon as...
Support: 2369 - 2358 - 2352 - 2342 - 2330 Resistance: 2397 - 2400 - 2410 - 2418 - 2435 Breakout: 2378 - 2400 🔴SELL price range 2409 - 2411 stop 2415 🟢BUY price range 2369 - 2367 stop 2363 (Asia, Europe) 🟢BUY price range 2358 - 2356 stop 2352 Scalping strategies will be applied when the resistance - support areas above have entry signals. Note: Full TP, SL to...
Gold Today I suppose it's far very possibly that there might be every other decline. With this quick fashion and rate model, for my part Gold might be capable of lower barely to the 236x location after which growth again. >Currently, I nonetheless Hold Buy Orders, however with the rhythm of today`s Asian and European Sessions, I will Sell Short in step with Ma...
World gold prices turned down with spot gold dropping 9.5 USD to 2,375.5 USD/ounce. Gold futures last traded at $2,380.90 an ounce, down $14 from the bright spot. According to Kitco Metals senior analyst Jim Wyckoff, gold turned around due to normal pressure after recent gains. On that side, the recovery of the US Dollar index also added strength to gold. The...
In Asian hours on Tuesday, May 14, spot gold traded in a narrow range, currently trading around 2341. Gold fell 1 percent on profit-taking to settle at $2,336.10 an ounce on Monday as investors awaited key inflation data this week for more clues on a U.S. interest rate cut this year. In addition, Federal Reserve Chairman Jerome Powell will also speak in the day,...
OANDA:XAUUSD remained strong as the Dollar and US Treasury yields weakened, although data showed US producer prices rose more than expected in April, suggesting inflation remained high. Federal Reserve Chairman Jerome Powell said Tuesday that his confidence that inflation will continue to cool is no longer as high as it was at the beginning of the year and that...
Gold has been picking up bearish momentum we can expect a fall to 2359 but use proper RM as price is at an important zone.
the market broke multiple structure to the upside and possibly change direction
Aluminum futures rose to above $2,580 per tonne, not far from the near-two-year-high of $2,670 on April 22nd, tracking broad-based gains for main base metals while markets continued to assess the availability for key partitioned markets. On-warrant LME stocks in Malaysian Port Klang continued to soar ahead of the key delivery deadline of May 15th, extending...
Short Term Elliott Wave in Silver (XAGUSD) suggests the metal rallies in impulsive structure from 10.3.2023 low. Up from there, wave (1) ended at 25.91 and dip sin wave (2) ended at 21.94. The metal then extended higher in wave (3) towards 29.79. Pullback in wave (4) ended at 26.02 as the 1 hour chart below shows. The metal has resumed higher in wave (5). Internal...
After the US data was released last night, gold did not rise but fell, hovering near its recent high. It reached a one-hour support level near 2370, which was also the one-hour support level we mentioned yesterday, and then rose by 130 points to a maximum of 2383. We made a profit of over 100 points at this position. Today, it is expected that gold will continue...