referring to Here are the levels that matter for XAU/USD heading deeper into June trade. Review this week's Strategy Webinar for an in-depth breakdown of this setup and more. Gold Daily Price Chart (XAU/USD)Technical Outlook: In last week's Gold Technical Outlook, we noted a bearish bias, "sub-1266 with near-term bearish invalidation up at the objective weekly opening-range highs at 1272. Avoid these Mistakes in your tradingBottom line: Gold has responded to key weekly support and the immediate focus is on the June opening range with the broader downtrend at risk near-term while above 1236. See how shifts in Gold retail positioning are impacting trend- Learn more about sentiment!
collected by :kiven Dixter
XAU/USD Technical Outlook: Gold Price Breakout Pending
Note that the 75% line of the descending pitchfork formation also converges on this region into the start of next week with a pending RSI resistance trigger in view. Get started with this Free Beginners GuideGold 240min Price Chart (XAU/USD)Notes: A closer look at near-term price action sees gold prices consolidating off the May lows with our immediate focus on a break of the 1291-1305 range. A topside breach would shift the focus towards 1313/15- an area of interest for possible near-term exhaustion / short-entries. Avoid these Mistakes in your tradingBottom line: Technical considerations made earlier in the week on the US Dollar (DXY), favor a near-term topside breach of this consolidation in gold prices before moving lower. That said, we would need to breach downslope resistance (1315) to suggest a more significant low is in place.Monsoon Could Push Gold Price Higher As Rural Demand Picks Up. Where Is Gold Headed?
as informed in A consistent monsoon season may boost gold demand in rural parts of the country, say expertsHere are five factors affecting the current gold price:Wondering where gold prices are headed? Are gold prices expected to break the current trend anytime soon? NDTV here brings to you what experts think about the current trend in gold prices. (Also read: Physical Gold, Gold ETFs Or Gold Bonds: Where To Invest Your Money? In its latest monetary policy statement, the RBI pointed out selling pressure on gold prices due to strength in the dollar.2.Gold Price Analysis: Risk Aversion May Slow Recent Collapse
Gold Price News and Analysis- Two-month downtrend looks ominous for gold bulls. The DailyFX Q2 Gold Forecast is now available to help traders navigate the market. The latest IG Retail Sentiment Indicatorshows that traders are 84.4% net-long of the precious metal but recent changes in net-longs gives us a mixed spot gold trading bias. Spot Gold Price Determined by Fundamental DriversGold has fallen sharply by nearly $100/oz. Gold Spot Price Chart Daily Time Frame (July 2017 – June 20, 2018)Are you new to Gold or FX trading or are you looking to improve your trading skill sets?Gold Price at Support; Technical Outlook for Crude Oil, DAX & S&P 500
Several major markets are at or very near major long-term trend-lines or levels. Gold is at a 3-year trend-line, crude oil is approaching a 10-year trend-line, and the DAX & S&P 500 are both at 2.5-year bull-market thresholds. A break could lead to a sizable decline, especially if the S&P 500 breaks its own major bull-market thresholds. DAX Daily Chart (Feb '16 t-line, H&S neckline below)The S&P 500 has not only the February 2016 trend-line just at its feet, but running in confluence is the widely-watched 200-day MA. S&P 500 Daily Chart (4th test looks near, can it pass?)collected by :kiven Dixter
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