Gold Daily Outlook - June 06, 2022 Gold made a strong bullish move to $1870; however, the uptrend was short-lived as the precious metal plunged to trade at the $1,853 level. Closing of candles above the support level of $1,849 reinforces expectations of a continuation of the bullish trend, which primarily targets 1,870, noting that the price moves within a bullish channel, which supports the chances of exceeding the mentioned level to achieve additional gains on an intraday and short term basis. The bull market trend scenario will generally stay operational and dominant in the coming sessions if prices remain above 1850 and 1838.10 levels. Today's trading range is expected to be between 1850 support and 1890 resistance. Good luck
Strong bullish move ??? $CRB commodity index goes higher and higher week after week, and "inflation-hedge" Gold goes up a day or two and then back down - $200 currently below high made back in March. Hardly bullish, let alone strong.
Gold Daily Outlook - June 13, 2022 On a four-hour scale, the gold price is about to break out of its sustained consolidation formed in a scope of $1,825.10-1,876.01. The bullish momentum has been strengthened by a stronger responsive buying action noted last week from $1,825.10. The precious metal is bidding up from its 50-period Exponential Moving Average (EMA) of $1,853.15. In the meantime, the Relative Strength Index (RSI) (14) has entered a bullish range of 60.00-80.00, adding to the upside filters. The gold price rallied strongly upwards to breach $1,850, paving the way for more expected gains on an intraday basis, activating the positive scenario that targets $1,890.00 as the next central station, noting that the continuation of the bullish wave is dependent on price stability above $1,850.00, and significantly above $1,838.10. Good luck!
your analysis is rather bad. On 13 Jun 2022, gold started to go down during the Asian session. It continued to go down during the European session. And it continued to go down massively during the US session. gold dropped massively by 3.5% on 13 Jun 2022. You need to look at the bigger picture too; index futures, bonds were down too due to inflation and rate change things. You should remove those EMAs, RSI as it is misleading you. You need to monitor the chart very very very closely. glue your eyes to the computer screen nonstop, and not just a few minutes at the beginning of the day. You have made too many mistakes already (including trading without the x and y-axis). If you have no time to monitor the screen, you should not trade. don't predict the market. React to the market !!!!
Gold Daily Outlook - June 21, 2022 The gold price provided clear positive trade and remained supported above the 1836 level. However, it starts today with an apparent uptrend to settle above the mentioned level, which encourages us to suggest a bullish bias today. The leading indicators, such as stochastic RSI and RSI, are currently positive, driving a bullish bias for gold. Above the 1838.10 trading level, gold has the potential to reinforce the uptrend trend, which will continue unless 1850.00 is breached and held above. Today's trading range is expected to be between 1820.00 support and 1855.00 resistance. So, consider looking for buying trades over $1,836 and vice versa. Good luck!
The last two sentences are the key to it all. I see so many trying to predict what the masses will do when all that's needed is good reactionary skills. Trying to predict is a fast way to a bust account