Gold: July 3rd

The yellow metal has ranged for the last few days and currently it is testing the range on the lower end. With current support and resistance structures, it is expected that Gold will push downwards as it retests stronger support at 1310 levels. As an alternative scenario, if it breaks upwards then there is good possibility that it may hit 1353 range. With current price action the bias is towards retest of 1310 and that is what our analysts at TradeCuts are targeting. Let us know what is your take on the Yellow Metal.


which broker is this chart from?
did those spikes really happen?

you are pointing to 1260 for TP? (again numbers u r givin are totally wrong, wtf)

somehow the 1293 extraordinary strong support does not appear in ur pic, now backed up by 10 & 60 sma’s (already over 60sma, w1 chart).

gl

Technical analysis of Gold dated 29.12.2014

Price since the end of 2011 till now was in strong and consistent downtrend with a little price reformation and sellers were successful in achieving the lowest price of 1131.335.Price has formed a bottom price(Spinning Top Pattern) with reaching to the specified supportive levels(Up Trendline and d point of harmonic pattern) in the picture below and it has stopped from more descend and has started a little ascend with shows exit of some sellers from their trades.

As it is obvious in the picture below, there is a harmonic butterfly pattern between the bottom price of 1131.335 and the top price of 1389.947 that there is a potential for changing price direction from D point of this pattern.Stoch indicator in Monthly time frame (also in daily time frame) is in saturation sell area and with the next cycle warns about ascending of price during the next candles.Generally until the third point of Up Trendline is preserved, the price has the potential for ascend and reformation in this Metal.

As it was mentioned in the previous technical analysis of Gold dated 2014.12.29, according to the formed technical signs, there was the potential for ascending of price which finally happened. Buyers were successful in achieving the highest price of 1307.692.Price has been stopped from more ascending with reaching to the Resistance round level of 1300.00(Buyers use this lever to exit their trades) and starts to descend.In daily time frame on 21th day a candle with small body(Spinning Top Pattern) formed which showed the indecision market in ascending or descending of the price and it is a weak warning for stopping of the market.

As it is obvious in the picture below, there is non-ideal Gartley harmonic pattern between the top price of 1307.692 and the bottom price of 1131.514 that there is a potential for ceasing of price from D point of this pattern.RSI indicator in Daily time frame is in saturation buy area and with the next cycle warns about descending of price during the next candles, but because of lack of coordination with the weekly and monthly time frames is not much valid.Currently the first sign for buyers is breaking of the D point of harmonic pattern in the price chart.

Sorry, we can’t see D point in your Pic.
There are Two C’s though.

Technical analysis of Gold dated 13.02.2015

Gold was in a strong and consistent downtrend during the recent days that Sellers were successful in obtaining the lowest price of 1216.56.Price has been stopped from more descend with reaching to the specified support level (conversion level r=s) and In the range of formed bottom price there are Inverted hammer and Harami candlestick patterns that shows the possibility for formation of a successful bottom price in continuing ascending trend(need to be confirmed by a bullish candle)

As it is obvious in the picture below, between the top price of 1307.35 and bottom price of 1216.56 there is AB=CD harmonic pattern with ratios of 78.6 and 127.2 that warns the potential of ascending from the D point of this pattern.Stoch indicator is in saturation sell area and confirms the D point of this pattern by the next cycle and warns about the potential of ascending of the price during the next days.Generally until the bottom price of 1216.56 is preserved, there is a potential for ascending and price reformation in this Metal.