Posts Tagged ‘gold’

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Gold Forecast — December 11th 2019

In this video, the Trader Guy looks at the commodity, gold for the December 11th session. Gold/USD — The trading session was bullish on Tuesday. Gold market is finding support at the area above the top of the ascending triangle pattern, which comes at the $1,450 level. So, you can use pullbacks at the moment as buying opportunities, and aim for the $1,500 level. If the US imposes more tariffs on imports from China, then this market could […]

Gold Forecast — December 9th 2019

In this video, the Trader Guy looks at the commodity, gold for the December 9th session. Gold/USD — Gold was very bearish on Friday session. It has been trading inside this descending price channel. However, you can expect the area above the top of this ascending triangle pattern to provide support. Also, the 200-day EMA looks supportive. At the moment, this market is sensitive to risk appetite. Negative headlines on&nbsp […]

Gold Forecast — December 6th 2019

In this video, the Trader Guy looks at the commodity, gold for the December 6th session. EUR/USD — The Thursday session saw the market to rally a bit. The market has formed a shooting star and is trading close to the top of the descending channel. However, the 50-day EMA could offer support. With the jobs number to be released from the US, you have to wait and see its impact on this market. A candle close above the $1,500 level […]

Gold Forecast — December 5th 2019

In this video, the Trader Guy looks at the commodity, gold for the December 5th session. Gold/USD — Gold market was slightly bullish on Wednesday session. However, as the market reached the top of this descending channel, it only showed signs of weakness from bulls. A breakdown below the $1,450 level will cause the market to look for support at the 200-day EMA. It is all based on risk-on, risk-off sentiment for this market. However, the market […]

Gold Forecast — December 3rd 2019

In this video, the Trader Guy looks at the commodity, gold for the December 3rd session. Gold/USD — The trading session was initially bearish, but then gold rose on weaker than anticipated ISM Manufacturing PMI figures. There is a confluence of support below, as the area above the top of the ascending triangle pattern and the $1,450 level are offering support. You can consider the 200-day EMA as the line in the sand for this market. At the moment, the market […]

Gold Forecast — December 2nd 2019

In this video, the Trader Guy looks at the commodity, gold for the December 2nd session. Gold/USD — Gold managed to rally a bit on Friday session, right after the Thanksgiving Day in the US. The market is trading just above the 38.2% Fib retracement level and the area above the ascending triangle pattern. Also, the 200-day EMA could offer support. So, pullbacks are seen as buying opportunities with the $1,500 level as the next target. However, […]

Gold Forecast — November 29th 2019

In this video, the Trader Guy looks at the commodity, gold for the November 29th session. Gold/USD — The Thursday session was low volume due to the Thanksgiving Day in the US. The market pulled back a bit to look for support. There is a confluence of support below due to the $1,450 level, the 28.2% Fib retracement level, and the area above the top of the ascending triangle pattern. Also, the 200-day EMA below could offer support. So, pullbacks are […]

Gold Forecast — November 26th 2019

In this video, the Trader Guy looks at the commodity, gold for the November 26th session. Gold/USD — The gold market was slightly bearish on Monday session. It is now testing an area, which is seen as confluence of support. The $1,450 level, the area above the ascending triangle pattern, and the 38.2% Fib retracement level offer support. Also, you can make an argument for a double bottom pattern here. The market is now trading […]

Gold Forecast — November 25th 2019

In this video, the Trader Guy looks at the commodity, gold for the November 25th session. Gold/USD — The gold market was initially bullish on Friday session, but then turned around to show signs of exhaustion. There is a confluence of support at the area above the ascending triangle pattern, which comes at the $14,450 level. This is also the 38.2% Fib retracement level. Also, the 200-day EMA below looks supportive. So, pullbacks are […]

Gold Forecast — November 22nd 2019

In this video, the Trader Guy looks at the commodity, gold for the November 22nd session. Gold/USD — The Thrusday session saw the market to be dominated by headlines and the market pulled back a bit. The area above the ascending triangle pattern, which comes at the $1,450 level looks supportive. There is a confluence of support here, as the 38.2% Fib retracement level also comes here to offer support. The formation of a couple of hammer candlesticks here shows strong […]

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