JRFX-Daily Gold Price Trend Analysis-June 11, 2024
Gold price chart, weekly time frame Last week closed the week under the blue Channel support line. Yesterday, the price went up to test the Channel resistance line again but was unable to pass through and was still within the price structure of the weekly Double Top pattern. The next trend in the medium term is likely to drop towards the 20-week moving average support line. The green line is at the price around 2247$.
Gold price chart daily time frame Yesterday, the retracement occurred as expected. After the price came down to rest at the support level. The price rose to test the resistance of the 50-day moving average, the blue line at around 2312$ and has not yet passed. Today the price started to adjust down. Currently, there is still an opportunity to move sideways and stay off the side. There is a chance of moving further down to the 2250$ zone with the 20-week EMA support rather than an upward adjustment.
The gold price chart on the 4-hour time frame is under the Down Trend Channel structure, blue line. It is currently resting in the neckline support of the Double Top pattern at the price level around 2285$. Yesterday, the price experienced a retracement to test the 50-day EMA support zone that broke out down to the price level around 2310-2315$ and adjusted. down as predicted this morning. But the current structure in the 4H frame has a chance to increase in the short term to test the 2320$ zone. Otherwise, when the bottom is broken, it will move further to at least 2266$.
Gold chart, 1-hour time frame, price accumulates strongly in a sideway up manner. Today, focus on SHORT at the price level around 2320-2325$, target down to the original low point of 2285$ and 2266$. Gold is a low-risk asset but has price fluctuations. high It is recommended to trade with carelessness. Be mindful and use appropriate risk controls.
The information provided is for educational and informational purposes only. It does not constitute financial advice. Any trading or investment decisions should be made with caution and based on your own research and risk appetite.
JRFX | Daily Gold Price Analysis-June 13, 2024
Weekly Time Frame Gold Price Chart: Gold price is still consolidating around the support/resistance of the blue channel. The price structure is still in the form of a Double Top, with the Neckline in the $2,290/2,300 price zone. Yesterday, the U.S. inflation data came out unfavorably, along with the Fed’s policy outlook of a single rate cut in 2024, causing the USD to weaken. Prices have rebounded in the short term. The medium-term trend outlook has a chance of moving down to test the 20-week moving average support, which is around $2,250.
Daily Time Frame Gold Price Chart: Yesterday’s price action moved up to stand above the 50-day EMA line, the blue line at around $2,313, testing the 20-day EMA (green line) at around $2,335 level, but failed to break through. Overall, the price is being squeezed back under the two EMA lines again and is in a Sideway Up structure.
4-hour Time Frame Gold Price Chart: Gold price is currently in a downward trend channel, with the blue line representing the trend channel. Yesterday, the price broke out above the middle line and tested the $2,340 zone. The current movement is a correction/corrective move (a brief upward movement) and there is a possibility of further upward adjustment today, with a chance to test the 61.8% Fibonacci retracement level around $2,350.
1-hour Time Frame Gold Price Chart: After reaching the high around $2,340 yesterday, the price has pulled back down to test the demand zone around $2,310 again this morning. The overall picture is still volatile, but in the short-term, the price has a chance to continue rising, potentially consolidating in a sideways up pattern. The main trading strategy for today is to focus on shorting around the $2,350 level, with targets at the previous lows of $2,285 and $2,266. Gold is a low-risk asset, but it has high price volatility, so it is recommended to trade with caution, mindfulness, and appropriate risk management.
JRFX-Daily Gold Price Trend Analysis-June 14, 2024
Weekly Time Frame Gold Price Chart: The gold price has continued to consolidate around the support/resistance levels of the blue channel. This week, the price has remained below the blue resistance line. The price structure is still in the form of a Double Top pattern, with the neckline around the $2,290/2,300 price zone. In the medium-term outlook, there is a possibility of the price moving down towards the 20-week moving average (green line) around $2,250.
Daily Time Frame Gold Price Chart: Yesterday, the price moved back down and traded below the 50-day EMA (blue line) around $2,313. Overall, the price today has a chance to test the EMA and continue to move lower. The next significant downward impulsive move is likely to be a correction towards the 120-day EMA (orange line) around the $2,222 price level.
4-hour Time Frame Gold Price Chart: Gold price is currently trading within a Down Trend Channel, with the blue line as the trend line. Yesterday, the price broke down from the BB Middle Bands, moving down to around $2,314. This morning, the price has started a Retracement, moving up. There is a possibility that it may not break through the BB Middle Bands and continue to move down to test the $2,285 support level, which is the Previous Low.
1-hour Time Frame Gold Price Chart: The overall price action shows high volatility, with an unclear trend structure. For now, the assessment is that the price has a tendency to move down and test the $2,285 support level. If this level is broken, the price may continue to move down towards the 20-week EMA around $2,250. Gold is considered a low-risk asset, but it has high price volatility. It is recommended to trade with caution, mindfulness, and appropriate risk management.
The information provided is for educational and informational purposes only. It does not constitute financial advice. Any trading or investment decisions should be made with caution and based on your own research and risk appetite.
JRFX-Daily Gold Price Trend Analysis-June 14, 2024
Weekly Time Frame Gold Price Chart: The gold price has rebounded from the Neckline support of the Double Top pattern in the $2,290/2,300 price zone, and is now moving in a Sideway along the blue Channel resistance. Looking at the price trend in the medium term, the price has the opportunity to move down towards the 20-week moving average (green line) at around $2,257.
Daily Time Frame Gold Price Chart: The gold price is still moving without a clear trend direction. On Friday, the price went up to test the EMA 20-day resistance zone at around $2,333, and this morning it started to decline after encountering the resistance. The probability of a Head And Shoulders pattern forming with a Neckline at the $2,290 level still remains. Overall, the price today has the chance to test the EMA and continue to move down. The next strong Impulsive downward movement is likely to be towards the EMA 120-day (orange line) at around $2,224.
4-hour Time Frame Gold Price Chart: The gold price is within a Down Trend Channel structure with the blue line. Yesterday, the price broke out above the BB Middle Bands at around $2,314 and has started to retrace lower this morning. The price is expected to have a chance of not moving through the BB Middle Bands and continuing to test the resistance at $2,345.
1-hour Time Frame Gold Price Chart: The chart shows overall price volatility with an unclear trend structure. The price has frequently tested the resistance zone and Supply Zone at $2,340. Initially, the price is expected to have a tendency to move up to the Fibonacci Retracement level of 61.8% in the $2,345-$2,350 range. Gold is a low-risk asset but has high price volatility. It is recommended to trade with caution, mindfulness, and appropriate risk management.
Weekly Gold Price Chart: The gold price has rebounded from the Neckline support of the Double Top pattern in the $2,290/$2,300 zone and is still moving sideways within the blue channel. In the medium-term outlook, the price has the potential to move down towards the 20-week moving average (green line) around $2,257.
Daily Gold Price Chart: The price is still moving without a clear directional trend, under low volatility. On Friday, the price went up to test the 20-day EMA resistance line in the $2,333 price zone, and yesterday it dropped again after encountering resistance. The probability of a Head and Shoulders pattern forming with a Neckline around $2,290 is still present. An expected impulsive downward move has the potential to retest the EMA 120-day (orange line) around $2,227 level. However, if the price can break above and hold above the EMA 20-day, it may have the opportunity to continue testing the highs around the $2,380 zone.
4-Hour Gold Price Chart: The gold price is within a Down Trend Channel with the blue line. Yesterday, the price was consolidating around the BB Middle Bands at around $2,318. The resistance at the Upper Band is at the price level of $2,340, and the support at the Lower Band is at the price level of $2,296. The forecast for the price movement today is that there is a chance that the price will go up and test the resistance of $2,332-$2,340.
1-Hour Gold Price Chart: The overall price volatility is low and the trend structure is not clear. The price has often tested the resistance zone and Supply Zone at $2,340. Initially, it is estimated that the price has a tendency to move up to the Fibonacci Retracement 50.0% level of $2,337-$2,340. Gold is a low-risk asset but has high price volatility. It is recommended to trade with caution, mindfulness, and appropriate risk management.
