Tbacarreza

Tbacarreza

After breaking out of the bearish downward trend, gold wants to retest previous levels and grab some liquidity further up. Currently we are sitting at the 2022 level. If we break 2022 , we will see the likes of 2028-2030. From here, strong resistance level and the downward trendline on a larger scale act as a strong barrier to break for gold. Watch for the 2028...

Tbacarreza

After retracing upwards to the key levels of 2038-2041, we see our expected to begin our return to previous lows in 2015, and possibly beyond. If we can break 2029 strong we can continue onwards to 2022 and subsequently 2015. We will use the trend line and resistance and support levels for monitoring the trade. Sell 2038 TP1 - 2015 TP2 - 2001 SL 2045

Tbacarreza Updated 

After touching the 2050's area, gold rejected to the lower levels of 2030-2020 due to positive news for USD. This has resulted in a sharp decline, where we can see the first signs of a longer term downtrend. Currently within the smaller time frames, we are in consolidation but with focus on reaching lower support levels of 2010-2012 and potentially the...

Tbacarreza

After breaking the downward trend, the behaviour of the trends indicates a rising wedge. We wait for the breakout below and take the short trade on the retest with TP at a previous low.

Tbacarreza

After failing to break previous highs of October 2022 and 2023, usdjpy is at the beginning of retracement into a downward trend. The upward trend just broke, retested, and is in consolidation now creating Lower lows and Lower highs. We monitor for a break to the downside, atleast temporarily. The resistance area is at 148.591. This will be respected.

Tbacarreza Updated 

We see a small bullish rally again after breaking out of a downward trend. This rally is reaching an important convergence between the 1940 resistance and 1940 downward trendline of the May 4 2079 all-time high. This major trendline has been respected 5 times before sending the price further down again. In the coming days, this will be an important decider if...

Tbacarreza

After ending its large retest on the bullish rally, price was unable to break the fundamental resistance trend line from the all time high, tapping into 1950. We saw a downward momentum to as we expect a retest of previous August lows. So far, gold seems to maintain its bearish direction. We will expect a strong resistance at the 1900 psychological levels, and...

Tbacarreza

After breaking the lows of 1892 last week, we see gold diving deeper into the 1960-1980 territory. The first major support area was around 1974-1976. If support is not respected, we will touch the 2nd major support at 1861-1865, as gold rejected its price earlier this year in February and retraced back into 1890. I expect we need gold to have a significant...

Tbacarreza

After staying within the trendlines of the falling wedge, we are reaching Important support areas. 1900 and 1885 are 2 areas of psychological support and historical pivot points, 1985 being the lowest point since June 29th. Here we can either expect a clean reversal and push up off the 1900 support and back to retest areas of 1920-1930 or continue downwards to...

Tbacarreza Updated 

We are still in a Bearish momentum. Gold is about to reach the strong support level of 1910. Additionally, we are touching the bottom of the trendline. The next projected move will be a further push north, to retest the top of the trendline at 1938 or retest 1923 before making its way to psychological support level 1900. Watch for these points of interest....

Tbacarreza Updated 

XAU is in a current downtrend between 1970 and 1930. We have strong support at the 1930 level; however, after a short retracement to 1946, we return to 1935. The mid-parallel trend line acts as strong support. If broken in 1939, it may continue to rise till 195X. We will keep monitoring the retest at the mid-trend. Otherwise, a bearish push below 1930 will see...