GOLD - USD

- USD (-)

- Real time data - Gold & Silver Spot

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Type:	Commodities
Ticker:	XAUUSD
ISIN:

GOLD - USD - 1H - Technical analysis published on 05/08/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Bullish

Technical indicators

61%

11%

28%

My opinion

Bullish above 2,309.93 USD

My targets

2,328.52 USD (+0.41%)

2,336.02 USD (+0.73%)

My analysis

In the short term, there could be an acceleration of the basic bullish trend on GOLD - USD. This is a positive signal for buyers. As long as the price remains above 2,309.93 USD, a purchase could be considered. The first bullish objective is located at 2,328.52 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 2,336.02 USD as an objective. Crossing it would then enable buyers to target 2,346.76 USD. In the event of a return below 2,309.93 USD, the price would probably only initiate a small short-term correction to improve the bullish trend. Trading this correction may be risky.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

6.3

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by jann1414. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The GOLD - USD price is 2,318.98 USD. On the day, this instrument gained +0.16% and was between 2,307.14 USD and 2,319.26 USD. This implies that the price is at +0.51% from its lowest and at -0.01% from its highest.

2,307.14

2,319.26

2,318.98

The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by GOLD - USD:

The Central Records scanner, which identifies the highest / lowest, has detected several elements:

Near a new HIGH record (5 years)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

A technical analysis in 1H of this GOLD - USD chart shows a bullish trend. 78.57% of the signals given by moving averages are bullish. This bullish trend is supported by the strong bullish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

In fact, 11 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the scanner specialised in technical indicators, has identified this signal:

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:

Bullish engulfing lines

Type : Bullish

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	2,291.38	2,299.91	2,309.93	2,318.98	2,320.24	2,328.52	2,336.02
Change (%)	-1.19%	-0.82%	-0.39%	-	+0.05%	+0.41%	+0.73%
Change	-27.60	-19.07	-9.05	-	+1.26	+9.54	+17.04
Level	Intermediate	Minor	Major	-	Intermediate	Intermediate	Minor

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2,286.93	2,298.50	2,306.87	2,318.44	2,326.81	2,338.38	2,346.75
Camarilla	2,309.77	2,311.59	2,313.42	2,315.25	2,317.08	2,318.91	2,320.73
Woodie	2,285.34	2,297.70	2,305.28	2,317.64	2,325.22	2,337.58	2,345.16
Fibonacci	2,298.50	2,306.11	2,310.82	2,318.44	2,326.05	2,330.76	2,338.38

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2,200.35	2,238.85	2,269.77	2,308.27	2,339.19	2,377.69	2,408.61
Camarilla	2,281.61	2,287.97	2,294.34	2,300.70	2,307.06	2,313.43	2,319.79
Woodie	2,196.57	2,236.96	2,265.99	2,306.38	2,335.41	2,375.80	2,404.83
Fibonacci	2,238.85	2,265.37	2,281.75	2,308.27	2,334.79	2,351.17	2,377.69

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,999.72	2,114.12	2,202.75	2,317.15	2,405.78	2,520.18	2,608.81
Camarilla	2,235.55	2,254.16	2,272.77	2,291.38	2,309.99	2,328.60	2,347.21
Woodie	1,986.84	2,107.68	2,189.87	2,310.71	2,392.90	2,513.74	2,595.93
Fibonacci	2,114.12	2,191.68	2,239.59	2,317.15	2,394.71	2,442.62	2,520.18

Numerical data

The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	53.14
MACD (12,26,9):	-0.6900
Directional Movement:	-4.07
AROON (14):	-78.57
DEMA (21):	2,314.73
Parabolic SAR (0,02-0,02-0,2):	2,322.75
Elder Ray (13):	2.17
Super Trend (3,10):	2,324.05
Zig ZAG (10):	2,318.04
VORTEX (21):	0.9900
Stochastique (14,3,5):	70.27
TEMA (21):	2,313.92
Williams %R (14):	-12.49
Chande Momentum Oscillator (20):	5.72
Repulse (5,40,3):	0.1600
ROCnROLL:	1
TRIX (15,9):	-0.0100
Courbe Coppock:	0.01

MA7:	2,311.43
MA20:	2,338.82
MA50:	2,252.41
MA100:	2,142.84
MAexp7:	2,315.67
MAexp20:	2,315.67
MAexp50:	2,315.38
MAexp100:	2,313.91
Price / MA7:	+0.33%
Price / MA20:	-0.85%
Price / MA50:	+2.96%
Price / MA100:	+8.22%
Price / MAexp7:	+0.15%
Price / MAexp20:	+0.15%
Price / MAexp50:	+0.16%
Price / MAexp100:	+0.22%

Quotes : - Real time data - Gold & Silver Spot

News

The last news published on GOLD - USD at the time of the generation of this analysis was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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