Gold Price News and Forecast: XAU/USD – Double cycle alert on gold [Video]
|Gold: There still seems to be an appetite to support gold into near term weakness [Video]
For the past week and a half since the breakout above $1789, a consolidation has been developing on gold. This has taken the formation of a mini-trading range between $1790/$1818. The consolidation has broken a five week uptrend and resulted in strong momentum indicators just losing their impetus. However, there still seems to be an appetite to support gold into near term weakness. Read more...
Double cycle alert on gold
This week we see significant weekly cycles on gold. When these cycles come together as they are doing, there's a 90% probability of a reversal in trend. However, we should also be on alert for a potential acceleration just in case the 10% possibility comes in.
In this you can see a series of histograms below the price data. This is not volume. These are our proprietary Profit Finding Oracle signals. They are predictive – in other words they are known in advance. And when we see significant spikes, we are on alert for market reversals. You can also see that historically, previous spikes have aligned with turns and changes in trend. The spike showing for this week is significant and one of the largest that we have seen in the last three years. By the way, you will also see that future spikes are forming. Read more...
Gold Price Analysis: Path of least resistance is up, bullish levels to watch – Confluence Detector
Gold has been bouncing off the lows, which now turn into robust support. XAU/USD faces weaker resistance but bulls need to push it above two hurdles to allow the precious metal to run.
The Technical Confluences Indicator is showing that gold faces resistance at $1,815, which is a juncture including the Bollinger Band 1h-Upper, the Simple Moving Average 10-15m, the SMA 5-15m, and the previous weekly high. Read more...
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