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Gold prices show a new bearish sequence after the July-high display
Gold initially fell to open the day of Tuesday, thus reaching the psychologically important level $ 1250. This is an area that has been important more than once and that, of course, has some psychological importance. If we can go beyond the $ 1260 level, I think the market will be ready to go much higher.
Gold markets fell Tuesday during the trading session, reaching $ 1250. been important several times. I believe the market will eventually find buyers pushing higher, but I would also like to point out that we had recently broken below a significant uptrend line. That being said, I am not as confident about gold in the short term as the long term. I believe that in the long run we will go much higher, but for the moment, it is likely that we will continue to see a lot of volatility. This makes sense, because Forex markets are everywhere, and of course, the US dollar has been a major driver of gold going.
If we fall below the lows of the day, then I think we're going to look at the $ 1240 level, and could go as low as the $ 1200 level below, which, I think, is a massive support. Right now, though, it seems like we are trying to build some basic type, so it might take a while to finally get a definable trend. Currently, there are so many moving parts with a global appetite for risk that I think gold will continue to be a short term market for traders, with around $ 10 of support and resistance. By the way, prices are vulnerable to a correction towards 1.282.79.
The projected upper limit is: 1,259.62.
The proposed lower limit is:
The expected closing price is: 1,240.51
Candlesticks
A large black candle is produced . This is bearish because prices closed significantly lower than they had opened. If the candle appears when prices are "high", this may be the first sign of a peak. If this happens when prices are facing an air resistance zone (for example, a moving average, a trend line, or a level of price resistance), the long black candle adds credibility to the resistance. Similarly, if the candle appears when prices fall below a support area, the long black candle confirms the failure of the support area.
In the last 10 bars, there were 5 white candles and 5 black candles. Over the past 50 years, there have been 23 white candles and 27 black candles for a net of 4 black candles.
Momentum Indicators
Momentum is a general term used to describe the rate at which prices spend a given 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 40.4188. This is not an overbought or oversold reading. The last sign was a purchase 6 period (s) ago
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (under 30) . The current value of the RSI is 30.82. 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 a purchase 6 period (s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the ICC is -109. It is an oversold reading. However, no signal is generated until the indicator exceeds -100. The last signal was a purchase 6 period (s)
MACD
The Moving Average Convergence / Divergence Indicator (MACD) gives signals when it crosses its 9-period signal line. The last sign was purchased 4 period (s)
Rex Takasugi – TD Profile
PREC.M.XAU = closed -13,470 to 1,241,760. The volume was -0% lower than the average (neutral) and the Bollinger bands were 25% wider than normal
Open Up Low Low Volume ___
1,255,4101,256,8701,240,8901,241,760 0
Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish
Avg. Mobiles: 10 periods 50 periods 200 periods
Close: 1,251.62 1,284.98 1,301.83
Volatility: 11 9 11
Volume: 0 0 0
Short-term traders should pay more attention to arrows buy / sell while medium / long term traders should put more emphasis on the bullish or bearish trend reflected in the lower ribbon.
PREC.M.XAU = is currently 4.6% below its 200-period moving average and is trending downward. Volatility is 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 16 periods.
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