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  1. Gold Price Chart: Bullish Breakout

    by , 07-19-2019 at 10:49 AM
    Price is approach the upper bounds of this consolidation range with daily resistance steady at the August 2013 high at 1433. A breach / close above this threshold is needed to validate the breakout with such a scenario eyeing subsequent resistance targets at 1451 backed by the 50% retracement of the decline off the record highs at 1483.

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    Notes: A closer look at gold price action shows gold breaking above the weekly opening-range highs ...
  2. Gold Price With Daily Bearish Ranging

    by , 05-05-2019 at 07:05 PM
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    It’s been another busy week for Gold prices after last week’s breakdown to fresh 2019 lows. And while no new highs or lows were established this week – there may be a number of deductions that traders can move-forward with on the yellow metal. In this piece, I’m going to take a tops-down look at Gold prices, incorporating the monthly chart to focus on what got us to our current levels, and then drilling down to shorter-term variations in the effort of ...
  3. Gold: Weekly Correction to Bearish Breakdown

    by , 04-19-2019 at 09:18 AM
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    Retail trader data shows 74.0% of traders are net-long with the ratio of traders long to short at 2.85 to 1. The number of traders net-long is 0.3% lower than yesterday and 11.7% higher from last week, while the number of traders net-short is 10.9% higher than yesterday and 5.5% higher from last week.

    more...
  4. Gold Price Technical Outlook: XAU/USD Reversal to Risk

    by , 03-15-2019 at 11:31 AM
    Gold registered a low at 1280 with price respecting slope on a close basis before recovering higher. The advance failed this week at former channel support, turned resistance, with the subsequent sell-off breaking back below the 1302 pivot zone. The decline is now testing the 61.8% retracement of the advance at 1292 and a break below this threshold would risk another test of slope support with broader bullish invalidation steady at 1275/76 where the yearly opening-range low converges on the 38.2% ...
  5. Gold Weekly Technical Forecast

    by , 03-03-2019 at 05:39 PM
    From a technical perspective, gold was likely due for a noticeable pullback judging by the red-hot relative strength index (RSI). The RSI has been increasingly sending an ‘overbought’ signal due to the 13 percent runup in the commodity since bottoming August of last year. As such, the selling in gold could be viewed as a healthy ‘reversion to the mean’ with prices consolidating back towards its moving average.

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    Although, gold bulls were ...
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