Yeah i used to like it for the fact of the volatility but at the moment its just too wild. IMO it has been really difficult trading the last year or so obviously a lot going on fundamentally but still not been at all like years previous to that
Gold Daily Outlook - April 21, 2022 The gold price ended yesterday below the 1960.00 level, and is expected to fall further in the coming sessions, primarily to 1925.35. As a result, a bearish bias will be suggested for today, supported by a move below the EMA50, with the understanding that breaking and holding above 1960.00 will reactivate the bullish trend scenario, with the next target located at 2000. Today's trading range is expected to be between 1925.00 support and 1965.00 resistance. The expected trend for today: Bearish
I think today Thursday will be bullish US gold stocks. Edit: oooh waitaminute..... you might be right, just did a double check, prolly down alright.
Back in $1950-$1920 range its settled at so often past 2 months. Not expected much till this gives way - either way.
So many instruments are in these ranges atm. Got to wonder what is going to kick them out of them hopefully a peace deal with Russia and Ukraine and maybe a clear few months of massive fundamental news
Gold Daily Outlook - April 26, 2022 Gold price provided clear negative trades in the previous sessions to reach the thresholds of the waited target at 1925.35, and we expect the negative trades to continue in the near term to break this level and rally towards 1890.00 areas. As a result, we will continue to suggest a bearish trend on an intraday basis, backed up by the negative pressure formed by the EMA50, noting that staying below 1960.00 is critical to achieving the desired targets. Today's trading range is expected to be between 1910.00 support and 1945.00 resistance. Today's predicted trend: Bearish
Your screengrab is late or delayed data. I'm (US based) 5 hours behind London and my daily candle range - from yesterday is much wider. Not to mention today's small range so far, which your chart image does not show.
Gold Daily Outlook - May 02, 2022 Gold price bounced bearishly after approaching the awaited positive target of 1925.35, to resume the main bearish track, waiting for a break of 1890.00 to confirm the extension of the bearish wave towards 1850.00 as the next negative target. As a result, we anticipate negative trades in the coming sessions, supported by the negative signals provided by stochastic and the EMA50, noting that it is critical to remain below 1925.35 in order to achieve the suggested targets. Today's trading range is expected to be between 1870.00 support and 1910.00 resistance.
I took a look at Spot Gold (IMO cash symbols are much better for longer view) and it doesn't look "pretty" for bulls if I am correct. It appears that March 8th high was start of wave C of ABC correction that commenced back in Aug 7th, 2020. If this is so then Waves 1 and 2 have completed and currently we are in wave 3 till at least 1824-1822 or maybe 1717-1713. Then waves 4 and 5 before a bottom.