Gold

The precious metal is consolidating just a few points below the 1967 technical resistance. With the support formed near the 1911.50 handle, the sideways range could continue. Price action on the daily chart shows a gradual move lower,…
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The 1-hour timeframe shows the final wave ⑤ formation of the bullish cycle. This is indicated by intermediate sub-waves (1)-(2)-(3)-(4)-(5). At the time of writing, wave (4) looks to a triangle consisting of minor sub-waves A-B-C-D-E.…
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The precious metal managed to continue posting gains. Price action surged higher after the ECB meeting, as gold rose to the 1967 handle. Prices were quickly rejected near this level as gold pulled back. The confluence of the trend…
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The precious metal is making some positive gains after prices closed flat for three consecutive sessions. The dollar weakness is also helping the commodity to post the gains. Earlier in the week, gold prices were trading close to the…
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The precious metal is also feeling the brunt of a stronger US dollar. While price action accelerated to the downside on Tuesday, we see a rebound just close to the 1900 region where support has held up so far. Still, the lower highs…
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The precious metal is trading flat for the second consecutive day. This comes as price approaches the 1911.50 support area. If gold prices lose the 1911.50 handle next, then we expect steeper declines. Below this level, the next main…
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The precious metal has maintained a firm grip near the rising trend line, with prices consolidating near the 1930 level. To the upside, the resistance level near 1967 remains within reach. But only a strong close above this level will…
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XAUUSD entered consolidation after a bearish pullback from recent record highs. The pair has seen a bullish momentum since the beginning of April. It has remained above the $1900 area indicating a possible move to the upside. The…
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US stocks dipped on Thursday as all three major indices closed lower. Profit-taking was apparent as the indices continued to set record highs this week. The Nasdaq closed 5% lower, whilst the S&P and Dow fell by over 3%. Apple…
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