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Gold
Gold Prices Rise to a Four-Day High
The precious metal is posting strong gains on Monday, capitalizing on a weaker greenback. As a result, price action is up over 1.5% intraday and is trading near a four-day high.
Despite the current gains, XAUUSD will need to breakout…
Gold Pulls Back from a Seven-Month Low
The precious metal fell to a seven-month low over the week before managing to recovery with bullish gains on Friday.
Price action closed with gains after Thursday's doji pattern. This also comes near the support level of 1764.
With…
Gold Prices Steady Above 1764
The precious metal is trading flat on Thursday following the sharp declines from the day before. Price action has not yet tested the 30 November lows of 1764.22.
For the moment, we expect gold prices to consolidate between 1817.80 and…
Gold Prices Fall to a Two-Month Low
The precious metal resumes its declines with price action currently trading near the 1777.50 level.
The decline marks a new two-month low in the commodity. A break down below this level could further accelerate declines.
Still,…
Gold Slips Below 1817 Technical Support
The precious metal lost the 1817.79 technical support on Tuesday.
However, after prices fell to intraday lows of 1789.37, there was a quick recovery.
The current pullback could see gold prices retesting the 1817.79 level once again.…
XAUUSD Bears Remain in Control
XAUUSD has witnessed a choppy descent since hitting record highs in the midst of the 2020 pandemic. The continuous descending channel from the said period has seen prices tested at the psychological $1800 level.
The recent bullish…
Gold Prices Find Support Near 1817.89
The declines in the precious metal stalled after prices once again tested the 1817.89 level of support. A retest of this level, alongside the Stochastics oscillator attempting to move out from the oversold levels, could keep prices to the…
XAUUSD Double Three or Flat?
The XAUUSD structure shows a bearish triple zigzag consisting of minor sub-waves W-X-Y-X-Z.
Actionary wave Z is forming a minute ⓐ-ⓑ-ⓒ zigzag. Wave ⓐ is an impulse and wave ⓑ is an incomplete correction in the form of a double three…
Gold Prices Slip to a Three-Day Low
The precious metal is down nearly 1% intraday as the short term bearish momentum is strong. Price action is likely to retest the support area near 1817.80.
The stochastics oscillator on the intraday charts are also signaling further room…
Gold Prices Rejected Near 1850
The precious metal is struggling to breakout above 1850 as price action was firmly rejected near this level intraday.
Overall, gold prices remain trading subdued compared to the gains made in the previous sessions.
We expect the…