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Downward pressure for gold
Precious metals not being able to benefit from defensive support, downside risks are likely to prevail in the short term, with a potential for further lows in 2018. Fed Powell Chairman
Gold rose early in the week, but resistance exceeded $ 1260 an ounce, and sellers gained field later in the week with a decline of nearly $ 1,240 an ounce. The dollar strongly supported low yielding badets, including gold, as US yields proved attractive. The dollar trend will again have a crucial role in determining the direction of gold over the entire week, as gold continues to lose ground if the US dollar maintains a robust tone. . inevitably be a key influence. In terms of data, Monday's retail sales data will attract more attention, with solid growth expectations for the month. The output of industrial production is scheduled for Tuesday, with construction data on Wednesday. The survey data will be important, with the manufacturing index of the New York Empire on Monday and the Philadelphia Fed publication on Thursday. In addition to the key figures, inflation and capacity constraints will be monitored very closely, particularly with regard to supply issues in the transport sector.
Overall, price bias is: downward. Indeed, prices are vulnerable to a correction to 1,282.46
The projected upper limit is: 1,258,50
The proposed lower limit is: 1,220.55
The expected closing price is: 1 239,53
Candlesticks
A black body has occurred (because prices have dropped lower than they have opened) ).
In the last 10 bars, there were 5 white candles and 5 black candles. Over the last 50 bars, there were 22 white candles and 28 black candles for a network of 6 black candles
A downward bearish line (where the real body of a black candle completely contains the real body of the white candle). The all-encompbading bearish pattern is bearish during an uptrend. This means that the momentum can be moved from bulls to bears.
If the all-encompbading bearish pattern occurs during a downtrend (which seems to be the case with PREC.M.XAU =), it may be a last engulfment. bottom that indicates a bullish reversal. The test to see if this is the case is if the next candle closes over the bottom the actual body of the current (black) candle.
Momentum Indicators
Momentum is a general term used to describe the rate at which prices change over a period of time. Generally, changes in dynamics tend to result in price changes. This expert shows the current values of four popular momentum indicators
Stochastic Oscillator
A stochastic oscillator interpretation method is the search for overbought areas (above 80) and oversold areas (less than 20). The stochastic oscillator is 14.0947. This is an oversold reading. However, a signal is not generated until the oscillator exceeds 20 The last signal is from 8 period (s)
Relative Strength Index (RSI)
The RSI shows overbought (over 70) and oversold (below) 30) areas. The current value of the RSI is 32.82. This is not a trim or background area. A buy or sell signal is generated when the RSI leaves an overbought / oversold area. The last sign was purchased 8 period (s) ago
Commodity Channel Index (CCI)
The ICC shows overbought (above 100) and oversold (below -100) ). The current value of the ICC is -137.This is an oversold reading. However, no signal is generated until the indicator exceeds -100. The last signal was a purchase 8 period (s)
MACD
The Moving Average Convergence / Divergence Indicator (MACD) gives signals when it crosses its 9-period signal line. The last sign was a purchase 6 period (s) ago.
Rex Takasugi – TD Profile
PREC.M.XAU = closed -5,770 to 1,241,000. The volume was -0% below average (neutral) and the Bollinger bands were 7% narrower than normal.
Open Up Low Low Volume ___
1 246.9901,248.0201,236.5801,241.000 0
Technical Outlook
Short Term: Oversold
Intermediate Term: bearish
Long Term: bearish
Averages: 10 periods 50 periods 200 periods
Close: 1,250.39 1,282.21 1,301.53
Volatility: 11 9 11
Volume: 0 0 0
Short-term traders should pay more attention to Buy / Sell arrows while mid / long term traders should put more emphasis on the bullish or bearish trend reflected in the lower ribbon.
PREC.M.XAU = is currently 4.7% below its 200-period moving average and is trending downward. Volatility is extremely low compared to the average volatility of the last 10 periods. There is a good possibility that there will be an increase in volatility with large price fluctuations in the near future. Our volume indicators reflect very strong volume flows in XAU = (bullish). Our trend forecast oscillators are currently bearish on XAU = and have had this outlook for the last 18 periods. The price of safety has established a further 14-period decline while our momentum oscillator does not have. It's a bullish divergence.
Gold, Gold 1 OZ, news, prospects, shayne heffernan, trading, XAU = X
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