• Gold looking poised for a major bounce!

    XAUUSD is seeing major support above 1285 ( Fibonacci retracement , fibonacci extension , bullish divergence ) and a strong bounce could occur at this level to push prices all teh way up to major resistance at 1302 ( Fibonacci retracement , fiubonacci extension, horizontal pullback resistance). Stochastic (55,5,3) also sees major support above 2.7% […]

  • XAUUSD approaching resistance, potential drop!

    XAUUSD is approaching our first resistance at 1315.07 (horizontal swing high resistance, 23.6% Fibonacci retracement). A strong reaction might occur below this level, pushing price down to our major support at 1308.61 (horizontal swing low support, 161.8% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure, in line with our bearish bias. RSI […]

  • XAUUSD approaching resistance, potential drop!

    XAUUSD is approaching our first resistance at 1325.87 (horizontal swing high resistance, 100% Fibonacci extension, 38.2% Fibonacci retracement) which coincides with our short term descending resistance line. A strong reaction might occur below this level, pushing price down to our major support at 1302.72 (horizontal swing low support, 161.8% Fibonacci retracement). A breakout below our […]

  • XAUUSD approaching resistance, potential drop!

    Price is approaching our first resistance at 1325.87 (horizontal swing high resistance, 38.2% Fibonacci retracement, 100% Fibonacci extension) and a strong drop might occur below this level, pushing price down to our major support at 1302.72 (horizontal swing low support). Stochastic (89,5,3) is also approaching our major resistance where a reaction off this level might […]

  • XAUUSD approaching support, potential bounce!

    XAUUSD is testing our first support at 1310.48 (horizontal overlap support, breakout level). A strong bounce might occur above this level, pushing price up to our major resistance at 1325.87 (horizontal swing high resistance, 100% Fibonacci extension, 38.2% Fibonacci retracement). A breakout above our intermediate resistance at 1318.17 (horizontal swing high resistance, 23.6% Fibonacci retracement) […]

  • XAUUSD testing support, potential rise!

    Price is testing our first support at 1307.36 (horizontal overlap resistance). A strong bounce might occur above this level, pushing price up to our major resistance at 1325.27 (horizontal swing high resistance, 100% Fibonacci extension, 38.2% Fibonacci retracement, Elliot wave structure). A breakout above our intermediate resistance at 1320.60 (horizontal overlap resistance) might provide the […]

  • XAUUSD bouncing off support, further potential rise!

    XAUUSD bounced off our first support at 1322.43 (horizontal swing low support, 76.4% Fibonacci retracement, 100% Fibonacci extension). A strong bounce might occur above this level, further pushing price up to our major resistance at 1333.75 (horizontal pullback resistance, 38.2% Fibonacci retracement, 61.8% Fibonacci extension). Stochastic (34,5,3) is also bouncing off our major, a good […]

  • XAUUSD testing support, potential bounce!

    Price is testing our first support at 1328.73 (horizontal overlap support, 76.4% Fibonacci retracement) which coincides with our short term ascending support line. A strong bounce might occur above this level to push price up to our major resistance at 1340.80 (61.8% Fibonacci retracement, 61.8% Fibonacci extension). Stochastic (21,5,3) is also approaching our major support […]

  • XAUUSD reacted off resistance, potential drop!

    XAUUSD has reacted off its resistance at 1341.91 (horizontal overlap resistance, 61.8% Fibonacci retracement, price action). A strong reaction might occur at this level pushing price down to our major support at 1328.43 (horizontal pullback support, 76.4% Fibonacci retracement). Stochastic (21,5,3) is also reacting off its major resistance at 97%, a good precursor of a […]

  • Gold dropping nicely as forecasted, watch for more bearish movement!

    Gold is dropping nicely after our bearish cup and handle reversal formation. We keep an eye out on this trade as it has also broke a major ascending support-turned-resistance line which normally triggers a much bigger reversal. Our 1st resistance is at 1344 (Fibonacci retracement, horizontal overlap resistance) and our next major support is at […]

  • Gold forming a strong cup and handle reversal, watch for the drop!

    Gold has formed a really strong cup and handle reversal with our 1st resistance at 1344 (Fibonacci retracement, horizontal overlap resistance) and a strong reversal could occur at this level to push price down to at least 1325 support (Fibonacci retracement, horizontal overlap support, Fibonacci extension). RSI (55) has made a bearish exit signaling that […]

  • Gold reversed strongly, watch for break of major support

    Gold tested our major resistance and reversed perfectly from 1361 (ABC Fibonacci extension, horizontal swing high resistance) pushing price all the way down to our 1344 support (Fibonacci retracement, horizontal pullback support) as expected before bouncing up. This remains the key support to be broken before potentially another drop to 1325 support (Fibonacci retracement, horizontal […]

  • Gold testing major resistance, watch for a potential reversal!

    Gold is testing major resistance at 1361 (ABC Fibonacci extension, horizontal swing high resistance) and a reversal could occur at this level to push price down towards 1344 support (Fibonacci retracement, horizontal pullback support) before 1325 support (Fibonacci retracement, horizontal swing low support). Stochastic (55,5,3) is seeing major resistance at 99% where a corresponding reaction […]

  • Gold at crucial inflexion point, potential upcoming drop!

    Gold has made a pullback to our previously broken major ascending support-turned-resistance line and this has triggered a potential bearish drop from here below major resistance at 1332 (Fibonacci retracement, horizontal breakout level, pullback resistance) towards 1305 support (38.2% Fibonacci retracement, horizontal pullback support). Stochastic (55,5,3) is seeing major resistance below 99% where we still […]

  • Gold on pullback resistance, potential bearish setup!

    Gold has made a pullback to our previously broken major ascending support-turned-resistance line and this has triggered a potential bearish drop from here below major resistance at 1332 (Fibonacci retracement, horizontal breakout level, pullback resistance) towards 1305 support (38.2% Fibonacci retracement, horizontal pullback support). Stochastic (55,5,3) is seeing major resistance below 99% where we still […]