XAU/USD, GOLD (part 5)

[Chijioke]

Attachment 273916

So far, gold has been rising within a relatively narrow range, which is possibly a bearish pennant.

Correspondingly, we will be able to see in a while how the price leaves the range and goes down. At the moment, gold is likely to extend the upward movement within the channel.

Moreover, the relative strength index (RSI) and the stochastic oscillator confirm the movement. Therefore, the price may grow to the area of 1967, which is the latest high located near the top of the pennant, or slightly above it. However, it is not clear whether the price will be able to get there.

Most likely, the price will soon reverse down to the middle Bollinger band - that is approximately the 1940 region. If the price goes down, then it will possibly leave the channel falling to the 1920 area - that is to the previous low within the channel and the lower Bollinger band.

Thanks

[saoyo]

Gold fell for a very large period and reached $ 1209 in the last trading session last week

And is expected to bounce back and will rebound in the next period and rise to the top for correction

To the top, God willing, this is done and if the level of 1218 dollars is broken down, the sale is out of the purchase agreement, but now I advise you to enter the purchase on gold

I expect the beginning of the rise slightly on Monday and on the daily and the 4-hour Frem

I expect to reach the following goals:

First goal at 1216.14

A second goal at 1221.61

A third goal at 1223.56

Gold is still trading inside the red line zones that I have been mentioning,though with the pin bar formation on Thursday and bearing candle on Friday we are likely to see some sell pressure for a retest to support level at 1911.55 and any daily candle close below the down red line will be a clear sign of sell break

[101Goldhunter]

On the weekly chart, the price formed a small white candlestick with shadows on both sides.

On Friday’s daily chart, gold formed a small black candlestick.



Today, the pair is trading within a sideways range of 1940.00-1950.00 on the hourly chart. If the price goes above the given range, it is likely to reach 1965.00.

Alternatively, a downward breakout at 1940.00 may lead to a sell-off of the given instrument. In such a case, the price may test the support level of 1920.00 and the area of 1910.00-1906.00.

[Macliodor]

Gold is showing positive dynamics and is trading at 1955.67. Technical indicators on the 4-hour chart indicate probable growth: the SlopeDirectionLine indicator line with parameters (10.3) is colored light blue and with parameters (20.1) - similarly colored light blue, GannsSignalStopLoss_V4 is colored green, the line laguerre (gamma 0.66, CountBars 950) rises above the 0.5 level, the lines of the stoneaxe indicator (8, 24, 89) rise, including the black line (24) trading above the 0.00 level, and the WaddahAttarExplosion indicator bars are colored green color and are above the orange line indicating the strength of buyers. I would also like to note that the quotes are below the monthly opening price, above the weekly one, and the daily candle opening price is 1940.10. Resistance levels: 1978.50, 2016.00. Support levels: 1940.00, 1902.50. I am considering long positions above the level of 1940.00 with the target of 19.78.50. An alternative scenario is relevant below the support level of 1940.00.