Gold Price News and Forecast: XAU/USD prices crashed; be ready to sell a break below 1820


Gold bearish ABC pattern aiming at $1,700 support

Gold (XAU/USD) is building a bull flag chart pattern (orange lines). Price action seems ready to break below the 21 ema zone. The main targets are the -27.2% and -61.8% Fibonacci targets.

The main target of XAU/USD with a bearish break below the 21 ema is the -61.8% Fibonacci. There is also a support zone and previous top (green box) which can stop price action from falling. A break below the support zone, however, would invalidate the uptrend (red circle). In that case, a reversal is taking place that could take the price much deeper. Read more...

Gold

Gold prices crashed; be ready to sell a break below 1820

Gold Spot shorts at 1875/78 worked perfectly again. This time we crashed through important support at the November low at 1850/49. Longs stopped below support atthe September low at 1848/47 for a sell signal initially targeting 1835.

Silver Spot shorts at 2535/45 worked perfectly hitting targets of 2390/85, 2360/55 &2325/20. In fact, as I write we bottomed exactly here for a potential 100 point profit. Read more...

Gold

Gold Price Analysis: XAU/USD hangs near multi-month lows, around $1830 area

Gold maintained its offered tone through the early European session, albeit has managed to pare a part of the early losses to four-month lows. The precious metal was last seen trading near the $1830 region, down around 0.50% for the day.

The commodity added to the overnight losses and witnessed some follow-through selling for the second consecutive session on Tuesday. The downfall also marked the fifth day of a negative move in the previous six and was sponsored by the prevalent risk-on environment, which tends to undermine demand for the safe-haven gold. Read more...

XAU/USD

Overview
Today last price 1812.88
Today Daily Change -23.24
Today Daily Change % -1.27
Today daily open 1836.12
 
Trends
Daily SMA20 1886.06
Daily SMA50 1897.46
Daily SMA100 1910.27
Daily SMA200 1795.22
 
Levels
Previous Daily High 1876.14
Previous Daily Low 1831.01
Previous Weekly High 1899.14
Previous Weekly Low 1852.8
Previous Monthly High 1933.3
Previous Monthly Low 1860
Daily Fibonacci 38.2% 1848.25
Daily Fibonacci 61.8% 1858.9
Daily Pivot Point S1 1819.37
Daily Pivot Point S2 1802.63
Daily Pivot Point S3 1774.24
Daily Pivot Point R1 1864.5
Daily Pivot Point R2 1892.89
Daily Pivot Point R3 1909.63

 

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