EGOLD - EGLD/USD - Daily - Technical analysis published on 08/31/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
39%
28%
33%
My opinion
Bearish under 29.36 USD
My targets
23.09 USD (-12.50%)
My analysis
EGOLD - EGLD/USD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 29.36 USD. The next support located at 23.09 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
5.7
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 Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
EGOLD - EGLD/USD rating 26.39 USD. The price registered a decrease of -0.04% on the session and was traded between 26.13 USD and 26.83 USD over the period. The price is currently at +1.00% from its lowest and -1.64% from its highest.26.13
26.83
26.39
Here is a more detailed summary of the historical variations registered by EGOLD - EGLD/USD:
Technical
Technical analysis of this Daily chart of EGOLD - EGLD/USD indicates that the overall trend is strongly bearish. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : Daily
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 7 are bullish, 6 are neutral and 5 are bearish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Williams %R indicator is back over -50
Type : Bullish
Timeframe : Daily
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Resistance of channel is broken
Type : Bullish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
R1
R2
R3
Price
| Price | R1 | R2 | R3 | |
|---|---|---|---|---|
| ProTrendLines | 26.39 | 29.36 | 38.00 | 43.94 |
| Change (%) | - | +11.25% | +43.99% | +66.50% |
| Change | - | +2.97 | +11.61 | +17.55 |
| Level | - | Minor | Intermediate | Intermediate |
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 | 25.40 | 25.64 | 26.02 | 26.26 | 26.64 | 26.88 | 27.26 |
| Camarilla | 26.23 | 26.29 | 26.34 | 26.40 | 26.46 | 26.51 | 26.57 |
| Woodie | 25.47 | 25.68 | 26.09 | 26.30 | 26.71 | 26.92 | 27.33 |
| Fibonacci | 25.64 | 25.88 | 26.02 | 26.26 | 26.50 | 26.64 | 26.88 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 20.94 | 22.87 | 24.02 | 25.95 | 27.10 | 29.03 | 30.18 |
| Camarilla | 24.32 | 24.61 | 24.89 | 25.17 | 25.45 | 25.74 | 26.02 |
| Woodie | 20.55 | 22.68 | 23.63 | 25.76 | 26.71 | 28.84 | 29.79 |
| Fibonacci | 22.87 | 24.05 | 24.77 | 25.95 | 27.13 | 27.85 | 29.03 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 23.09 | 27.29 | 29.64 | 33.84 | 36.19 | 40.39 | 42.74 |
| Camarilla | 30.19 | 30.79 | 31.39 | 31.99 | 32.59 | 33.19 | 33.79 |
| Woodie | 22.17 | 26.83 | 28.72 | 33.38 | 35.27 | 39.93 | 41.82 |
| Fibonacci | 27.29 | 29.79 | 31.34 | 33.84 | 36.34 | 37.89 | 40.39 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 38.90 | |
| MACD (12,26,9): | -1.3900 | |
| Directional Movement: | -17.44 | |
| AROON (14): | 0 | |
| DEMA (21): | 25.31 | |
| Parabolic SAR (0,02-0,02-0,2): | 24.23 | |
| Elder Ray (13): | -0.06 | |
| Super Trend (3,10): | 28.40 | |
| Zig ZAG (10): | 26.63 | |
| VORTEX (21): | 0.8300 | |
| Stochastique (14,3,5): | 46.61 | |
| TEMA (21): | 25.13 | |
| Williams %R (14): | -44.19 | |
| Chande Momentum Oscillator (20): | -1.28 | |
| Repulse (5,40,3): | 3.8600 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.7700 | |
| Courbe Coppock: | 20.36 |
| MA7: | 25.73 | |
| MA20: | 27.25 | |
| MA50: | 30.73 | |
| MA100: | 32.44 | |
| MAexp7: | 26.13 | |
| MAexp20: | 27.25 | |
| MAexp50: | 29.71 | |
| MAexp100: | 32.19 | |
| Price / MA7: | +2.57% | |
| Price / MA20: | -3.16% | |
| Price / MA50: | -14.12% | |
| Price / MA100: | -18.65% | |
| Price / MAexp7: | +1.00% | |
| Price / MAexp20: | -3.16% | |
| Price / MAexp50: | -11.17% | |
| Price / MAexp100: | -18.02% |
Quotes :
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Real time data
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This member declared not having a position on this financial instrument or a related financial instrument.
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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