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forecast for gold - gold chart analysis ?
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| forecast for gold - gold chart analysis |
forecast for gold - gold chart analysis
The Gold chart has taken our fancy as of late. We have been fortunate enough to have some rather VERY ACCURATE calls on gold as of late. = SEE HERE =
Right now what we are looking at is the gold chart, on the WEEKLY chart. These weekly charts are the most powerful we must tell you because the smart money, meaning institutes and fund managers always keep their eye on the longer term charts. [weekly & monthly timeframes]
Today lets take a closer look at what is happening to gold on a weekly time-frame. On the charts below you can see......
GOLD WEEKLY CHART!
1) At the end you can see at (2) we basically created another HIGHER LOW point in the price of gold, and the price has been holding. This could be a significant LOW point now, where the price has recovered. MAJOR HIGHER LOWS on gold usually lead to more higher prices.
2) You can see the the MACD indicator, which is a great indicators for momentum and consensus of what other traders are doing, is still sitting on a WEEKLY BUY SIGNAL. Which is hinting further upside action could be seen in the months ahead!
Lastly, over the last few MONTHS on gold its been basically forming what is called an ascending triangle formation. [a pattern seen as a more bullish pattern in terms of technical analysis] Since about JANUARY, so with that being the case look for a breakout to the upside, and be on alert if GOLD trades up close to the 1300 level. That would signal more buying coming in and could cause a very significant breakout. Take a look at the chart below.
So this chart is quite powerful!!!
on the shorter term Gold steady as market awaits cues from Fed meeting
Gold traded mixed on Tuesday as most investors stayed on the sidelines ahead of a U.S. Federal Reserve meeting that should provide signals on the pace of monetary tightening.
The Fed is widely expected to raise interest rates when it concludes its meeting on Wednesday, although investors will focus on any new hints on the pace of hikes this year and its assessment of the economy and inflation.
Want Daily Updates?! UPGRADE TO OUR ELITE DAILY NEWSLETTER!
The Gold chart has taken our fancy as of late. We have been fortunate enough to have some rather VERY ACCURATE calls on gold as of late. = SEE HERE =
Right now what we are looking at is the gold chart, on the WEEKLY chart. These weekly charts are the most powerful we must tell you because the smart money, meaning institutes and fund managers always keep their eye on the longer term charts. [weekly & monthly timeframes]
Today lets take a closer look at what is happening to gold on a weekly time-frame. On the charts below you can see......
GOLD WEEKLY CHART!
1) At the end you can see at (2) we basically created another HIGHER LOW point in the price of gold, and the price has been holding. This could be a significant LOW point now, where the price has recovered. MAJOR HIGHER LOWS on gold usually lead to more higher prices.
2) You can see the the MACD indicator, which is a great indicators for momentum and consensus of what other traders are doing, is still sitting on a WEEKLY BUY SIGNAL. Which is hinting further upside action could be seen in the months ahead!
Lastly, over the last few MONTHS on gold its been basically forming what is called an ascending triangle formation. [a pattern seen as a more bullish pattern in terms of technical analysis] Since about JANUARY, so with that being the case look for a breakout to the upside, and be on alert if GOLD trades up close to the 1300 level. That would signal more buying coming in and could cause a very significant breakout. Take a look at the chart below.
 |
| weekly gold chart |
So this chart is quite powerful!!!
on the shorter term Gold steady as market awaits cues from Fed meeting
Gold traded mixed on Tuesday as most investors stayed on the sidelines ahead of a U.S. Federal Reserve meeting that should provide signals on the pace of monetary tightening.
The Fed is widely expected to raise interest rates when it concludes its meeting on Wednesday, although investors will focus on any new hints on the pace of hikes this year and its assessment of the economy and inflation.
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