Technical analysis of the global gold ounce Saturday, May 8

Analysis of the global gold ounce Saturday, May 8

The price of an ounce of global gold is in a good position after hitting a long-term support level and, according to the analysis of the Credit Suisse Institute, will increase to the level of $ 1,853 within the 200-day moving average indicator.

Gold fell above the important $ 1.755 to $ 1.765 level after falling to the support level of $ 1.682 to $ 1.671, near the level of 38.2 ونا Fibonacci Correction of its five-year long-term uptrend.

Currently, the key resistance levels are $ 1.835, $ ​​1.853 and $ 1.871, respectively.
On the other hand, if the price falls below the support level of $ 1,724 to $ 1,721, the possibility of an uptrend is eliminated.

Weekly evaluation of Kitco site of gold market ,May 3

Weekly evaluation of Kitco site of gold market ,May 3

Disappointment is back in the global gold ounce market. The XAUUSD price could not cross the $ 1,800 resistance. At the same time, inflationary pressures are intensifying, expansionary monetary policies continue to be strong, and governments are seeking to increase their spending. According to Kitco News, analysts have warned that lower global ounce prices should be prepared for lower prices in such circumstances. However, many analysts believe that the recent price cut is just a pullback to support and will provide a new opportunity to buy.
This week, 15 Wall Street activists took part in a weekly evaluation of the Kitco site. Fifty-three percent predict that the global ounce gold trend will be bullish in next week's trading. Another 47% predict that the market will be trendless or neutral. None of the market professionals expect a downward trend in the short term. Meanwhile, 954 Main Street investors took part in the online survey. 54% are in favor of an uptrend, 26% are in favor of a downtrend and 20% are in favor of a trend-neutral market.
Some analysts believe that gold failed to break $ 1800, but at the same time managed to defend the support of $ 1750. For this reason, market participants see last week's price drop as an opportunity to buy gold at lower prices.

Opinions of traders and investors about ounces of global gold

Ole Hansen is a commodity market strategist at Saxo Bank

"Gold has again disappointed its investors."

Adrian Day, President of Adrian D. Capital Management Company

"The price of an ounce of global gold should pull back to $ 1745. Gold broke the $ 1745 resistance in early April. This resistance prevented further growth of gold prices for two months. It is better that the market responds to this resistance as soon as possible in the form of support. The long-term trend of global gold ounces is bullish. "Inflationary pressures have intensified, and the Federal Reserve does not want to counteract the rise in inflation by raising interest rates or exiting the bond-buying program."

Marc Chandler is the CEO of Bannockburn Global Forex

The professional activist believes that if the market does not defend the support of $ 1750, the price of a global ounce of gold could fall to $ 1724. "Technically, the short-term trend of the global ounce of gold tends to decline. "Gold is approaching the $ 1,752 support area, which includes a 38.2% correction in the April Fibonacci rally." Although the long-term ounce of global gold is bullish for the professional activist, gold has performed poorly compared to copper, the stock market and even bitcoin. "There are strong risk aversions in the parallel gold markets and no one likes to wait for gold to grow in this situation. "Investors have better options to buy."

Gold Trading Offer - Central Trading Tuesday, April 27

Gold Trading Offer - Central Trading Tuesday, April 27

Offer: Buy a deal above the point of 1773.00 with the first tick of 1789.00 and the second tick of 1796.00
Alternative offer (in case of price change) When the price falls below 1773.00, the price first starts moving towards 1768.00 and 1760.00.

Support and resistance points
1807.00
1796.00
1789.00
——
1773.00
1768.00
1760.00

 

More about gold ...

Weekly evaluation of Kitco site of gold market Sunday, April 25

Weekly evaluation of Kitco site of gold market Sunday, April 25

An ounce of global gold has failed to break above the $ 1,800 resistance, making buyers pessimistic about the future. Kitco News' weekly assessment shows that the expectations and forecasts of market professionals have changed. Last week, all market traders expected an increase in the price of an ounce of global gold, but since the market could not cross $ 1,800, everyone expects the market to fluctuate in the neutral phase for some time.

This week, 17 Wall Street activists took part in an online evaluation of the Kitco site. 41% predict that the global gold ounce trend will be neutral. Another 41% expect a trend-free market. Meanwhile, 18% of analysts predict that the global gold ounce market trend will decline. Meanwhile, 850 Main Street investors took part in the online poll. 68% were in favor of an uptrend, 28% were in favor of a downtrend and 14% were in favor of a trend-neutral market.

Last week, XAUUSD tried to reach close to $ 1,800, but good US economic data did not allow gold to grow. The US New Homes sales index rose the most in March from 2006. US PMIs also showed strong optimism in the US manufacturing and services sectors.

Analysis of market professionals

Adam Button Senior Market Strategist at Forexlive.com

"The price of an ounce of global gold has risen to around $ 1,675 after forming a twin floor and is entering a neutral phase below $ 1,800 and is resting."

Kevin Grady, President of Phoenix Futures and Options LLC

"Despite the strong recovery in the US economy, selling ounces of global gold is hard work. But as economic recovery accelerates, so will inflationary pressures. "In that case, the ounce of global gold will strengthen as inflationary pressures intensify." In terms of roundness, the medium-term trend of global gold is neutral or trendless.

Jim Wyckoff Technical Analyst at Kitko

According to Vaikov, the global ounce gold trend is still bullish. "The trend of daily charts of global gold and silver is bullish."

Adrian Day, President of Adrian D. Capital Management Company

Although the price of an ounce of global gold was expected to move in an upward straight line and this did not happen, the medium-term trend of an ounce of gold is still bullish. The price of an ounce of global gold has climbed to the top of the recent neutral range at $ 1,750. "The weakening US dollar, declining rates of return on Treasury bonds and the US government's new financial and support package have all supported the global ounce price."

Marc Chandler is the CEO of Bannockburn Global Forex

The professional activist believes that the most important risky event this week is the US Federal Reserve interest rate meeting. According to him, if the US Federal Reserve continues to be inclined to expansionary monetary policy, the price of an ounce of global gold could exceed $ 1,800.

Darin Newsom Independent Market Analyst

Darin Newsam believes that the price of an ounce of global gold could fall to support around $ 1750. "It seems that after the formation of daily return candelas on Wednesdays and Thursdays, the short-term trend of global gold ounces has changed."

Weekly analysis of global gold news and ounce prices Sunday, April 25

Weekly analysis of global gold news and ounce prices Sunday, April 25

The price of an ounce of world gold started a downward trend yesterday after hitting the price ceiling of $ 1,795, with a fall of 0.3 to the level of $ 1,778.

The most important reason for this decline is the 2% increase in the yield on US Treasury bonds to 1.567%.

Private-sector economic activity in the United States rose significantly in April from a month earlier, according to figures released by IHS Markit. However, part of the report noted that producers were concerned about Inflation is raising prices.

New home sales in the United States rose about 20.7% in March. Analysts, meanwhile, forecast growth of 12.8 percent.
Currently, the US dollar index is on a downward trend in the range of 91 units, and this could prevent further fall in gold prices.

Technical levels

Last price of the day: $ 1781.61
Daytime fluctuations: 2.51-
Daytime fluctuations (٪): 0.14-
Starting price: $ 1784.12

Trends

20-day moving average: $ 1744.16
50-day moving average: $ 1748.33
100-day moving average: $ 1804.1
200-day moving average: $ 1857.18

Levels

Yesterday's highest price: $ 1797.93
Lowest price yesterday: $ 1777.48
Last week's highest price: $ 1783.85
Last week's lowest price: $ 1723.8
Last month's highest price: $ 1759.98
Last month's lowest price: $ 1676.87
Fibonacci 38.2. Daily: $ 1785.29
Fibonacci 61.8. Daily: $ 1790.12

Pivot S1 Daily: $ 1775.09
Pivot S2 Daily: $ 1766.06
Pivot S3 Daily: $ 1754.64
Pivot R1 Daily: $ 1795.54
Pivot R2 Daily: $ 1806.96
Pivot R3 Daily: $ 1815.99

Gold analysis Wednesday, April 21

Gold analysis Wednesday, April 21

On the global gold ion weekly chart, XAUUSD is still below the resistance line and the long-term moving average at $ 1785. If the weekly ounce chart of the world gold is closed below this resistance, one can expect the price of the ounce gold to fall to the support of $ 1687. In the daily chart of the global gold ounce, we see a situation similar to the situation of the daily chart. If the global gold ounce crosses the $ 1785 resistance level, the next target of the resistance market will be $ 1855. In the four-hour chart of global gold ounces, the short-term market trend is declining and the price of global gold ounces may fall to $ 1760. But the break of the $ 1785 resistance will pave the way for the market to rise to the next resistance at $ 1805.

Trading strategy

The $ 1785 resistance will determine the next direction of the market. The failure of this resistance will change the market trend upwards. But if it can maintain its position, the market will fall to lower support.

Gold trading opportunities today - Monday, April 19

Gold trading opportunities today - Monday, April 19

Offer: Buy a deal above the point of 1766.00 with the first tick of 1784.00 and the second tick of 1796.00

Alternative offer (in case of price trend change) When the price falls below 1766.00, the price first starts moving towards 1759.00 and 1749.00.

Support and resistance points
1808.00
1796.00
1784.00

1766.00
1759.00
1749.00

Evaluation of Kitco site about gold market Sunday, April 18

Evaluation of Kitco site about gold market Sunday, April 18

According to the weekly assessment of the Kitco News site, with the penetration of the global ounce gold price above the key resistance of $ 1765, all market professionals expect a further increase in the global ounce gold price.
This week, 13 Wall Street activists took part in the weekly evaluation of the Kitco site. All 13 predict that the global gold ounce trend will be bullish next week. Meanwhile, 1,103 Main Street investors took part in an online poll. 65% are in favor of an uptrend, 18% are in favor of a downtrend and 17% are in favor of a trendless or neutral market.

Analysis of market professionals

Ole Hansen is Saxo Bank Senior Market Strategist

"The XAUUSD bullish jump from $ 1680 has eased the minds of gold buyers and gold will soon reach higher levels." The activist said he would buy gold after rising on Thursday. According to him, the loss limit of the purchase transaction should be in the range of $ 1755. According to Hansen, the main factor driving up the price of an ounce of global gold was the decline in Treasury yields and the weakening of the US dollar.

Phillip Streible is the senior market strategist at Blue Line Futures

This professional activist also wants to enter into a buy deal after the recent price peak in the market. However, he believes that the loss limit of the purchase transaction should be determined with great care and with the increase in the price of gold, the loss limit should also be increased.

Darin Newsom Independent Market Analyst

According to this professional activist, the price of an ounce of world gold can rise to the peak of $ 1822. "After the break of this price peak, Pulbeck will probably be $ 1765. "However, the ounce of global gold is behaving in such a way that it seems to want to reach higher prices."

John Weyer, CEO of Walsh Trading

This professional activist focuses on the $ 1,785 resistance. According to him, if inflationary pressures intensify, the price of an ounce of global gold could reach above $ 1,800.

Adam Button Senior Market Strategist at Forexlive.com

According to Adam Button, the price of an ounce of world gold could rise to $ 1,840.

Weekly Gold Ratings at Kitco Sunday, April 11

According to Kitco News, optimism has been boosted again by rising global gold prices. An ounce of global gold has been able to defend its previous support and seems to be looking to cross the key and psychological level of $ 1750. That's why market participants expect the global medium-term ounce trend to be bullish. However, some analysts have warned that it is too early to talk about the XAUUSD uptrend.

This week, 15 Wall Street activists took part in the weekly evaluation of the Kitco site. Meanwhile, 60% of participants predict that the global gold ounce trend will be bullish. Another 20 percent predict a downtrend and the rest expect a trend-free or neutral market. Meanwhile, 1,201 Main Street investors took part in an online poll. 65% are in favor of an uptrend, 20% are in favor of a downtrend and 16% are in favor of a trend-free market.

Optimism for a short-term uptrend also strengthened among small investors and market traders after the global ounce price of key support jumped below $ 1,700. Last week, the price of an ounce of global gold climbed to around $ 1760, however, it ended the week below $ 1750. On Friday, we saw intensifying sales pressures in the gold market. The rise in Treasury yields and the strengthening of the US dollar in response to PPI data (manufacturing sector inflation) were the main reasons for the slight decline in the global ounce gold price. Inflation in the US manufacturing sector reached 4.2 percent per year, the fastest growth since September 2011.

Comments of market participants

Adam Button Senior Market Strategist at Forexlive.com

The closing of the global gold price above $ 1755 could be a confirmation of the formation of the twin floor pattern. In this case, the price of an ounce of world gold will rise to $ 1840. "But if the price of an ounce of global gold fails to rise, it will fall to $ 1,676 and below."

Charlie Nedoss Senior Market Strategy at LaSalle Futures Group

This professional activist no longer pays attention to the widespread selling pressures in the treasury securities market (rising bond yields). In his view, the Federal Reserve is not looking to raise interest rates in the near future. "The Fed wants to see real growth in economic indicators and then think about raising interest rates. I think this will stop the US dollar from rising and support the ounce of global gold. "Especially since the US dollar has not yet been able to stay above the 200-day moving average." Ndos is optimistic about the increase in the price of an ounce of global gold. Gold was able to maintain its position above the 200-day moving average. "Gold has hit the price floor of the oscillating range and it seems that this time it is time to touch the ceiling of this range. "I expect the price of an ounce of global gold to cross the $ 1760 resistance level."

Darin Newsom Independent Market Analyst

According to the activist, at least in the medium term, the rising strength of the US dollar has weakened. According to him, the probability that the price of an ounce of world gold will reach higher levels is serious. Gold and the US dollar are inversely related.

Marc Chandler, Senior Market Strategist at Bannockburn Global Forex

This professional activist is not very optimistic about the upward and short-term trend of gold. "Next week, the rise in the value of the US dollar and the rate of return on Treasury bonds may prevent the price of an ounce of gold from rising. US economic and inflation data are on the rise. The break in the $ 1730-1728 support area could push the global ounce price up to $ 1,700.

Adrian Day, Director of Adrian Investment Company

The professional activist believes that the trend of global ounce of gold in the coming week will be neutral. According to him, the market will fluctuate in a limited range. "I doubt gold can make a significant move in the next few weeks," he said. "I think the price of gold will fluctuate between $ 1,680 and $ 1,745."

Weekly evaluation of Kitco site Monday, April 5

Weekly evaluation of Kitco site Monday, April 5

At the same time with the formation of the twin floor below $ 1700, optimism about the future price of an ounce of global gold has been strengthened. Last week, the XAUUSD jumped twice below $ 1,700. Although the optimism of market professionals has been relatively strong, the concerns of small investors have not yet been allayed. The latest weekly assessment of Kitco News shows that disagreements between small investors and market professionals have increased. While gold has been able to jump above the monthly price floor and end the week above $ 1,700, some analysts believe that it is not yet possible to talk about a strong uptrend in the market.
This week, 15 Wall Street activists took part in the weekly evaluation of the Kitco site. 73% predict that this week's trend will be an upward ounce of global gold. 13% forecast a downtrend and another 13% expect a trend-free market. Meanwhile, 1,565 Main Street investors took part in an online poll. 41% are in favor of an uptrend, 44% are in favor of a downtrend and 16% are in favor of a trend-free market.

Analysis of market professionals

Colin Cieszynski SIA Wealth Management Senior Market Strategy
"Last week, the world ounce price of gold experienced a significant drop, so it can be said that the recent price increase is just a technical leap. "I do not expect a steady rising rally in the price of an ounce of global gold, and the market is facing many obstacles." He added that he would only be sure of the market's uptrend if the price of a global ounce of gold went above $ 1,780.
Darin Newsom Independent Market Analyst
The activist expects the market to rise in the short term, but he prefers to rely on the uptrend after the defeat of the $ 1756 resistance. According to Newsom, the global ounce of gold is in fierce competition with the US dollar. The long-term trend of the US dollar seems to be upward. The US dollar and the price of an ounce of world gold are inversely related.
Marc Chandler, senior market strategist at Bannockburn Global Forex
According to Chandler, rising inflation could lead investors to gold. In times of inflation, investors use gold to cover the risk of inflation. "The twin floor will only be confirmed if the price crosses the peak between the two floors, meaning that the global ounce price must rise above $ 1,754 to confirm the twin floor signal."