EGOLD - EGLD/USD - 1H - Technical analysis published on 01/21/2024 (GMT)
- 150
- 0
I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Slightly bullish
Technical indicators
17%
39%
44%
My opinion
Bullish above 49.61 USD
My targets
54.76 USD (+4.44%)
56.76 USD (+8.26%)
My analysis
The bullish trend is truly tentative and does not seem to be supported in the short term. It is advisable to trade EGOLD - EGLD/USD with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 49.61 USD. The buyers' bullish objective is set at 54.76 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 56.76 USD. If there is any crossing, the next objective would be the resistance located at 57.80 USD. If there is a bearish break in the support located at 49.61 USD some indecision would arise.
Technical indicators are opposing the general bullish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
1.1
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The EGOLD - EGLD/USD rating is 52.43 USD. The price registered a decrease of -0.17% on the session and was between 51.97 USD and 53.00 USD. This implies that the price is at +0.89% from its lowest and at -1.08% from its highest.51.97
53.00
52.43
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
The Central Volumes scanner notes the presence of abnormal volumes:
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
A technical analysis in 1H of this EGOLD - EGLD/USD chart shows a slightly bullish trend. 53.57% of the signals given by moving averages are bullish. The slightly bullish signals given by short-term moving averages do not show a strengthening of this global trend. An assessment of moving averages reveals several bearish and bullish signals:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 1 hour
Bullish price crossover with Moving Average 100
Type : Bullish
Timeframe : 1 hour
In fact, only 7 technical indicators out of 18 studied are currently bearish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The presence of these Japanese chandelier patterns detected by Central Candlesticks that could impact the current short-term trend were also noted:
White gravestone / inverted hammer
Type : Neutral
Timeframe : 1 hour
Bearish harami
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 47.83 | 49.61 | 52.12 | 52.43 | 54.76 | 56.76 | 57.80 |
| Change (%) | -8.77% | -5.38% | -0.59% | - | +4.44% | +8.26% | +10.24% |
| Change | -4.60 | -2.82 | -0.31 | - | +2.33 | +4.33 | +5.37 |
| Level | Intermediate | Major | Intermediate | - | Intermediate | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 47.47 | 48.87 | 50.70 | 52.10 | 53.93 | 55.33 | 57.16 |
| Camarilla | 51.63 | 51.93 | 52.22 | 52.52 | 52.82 | 53.11 | 53.41 |
| Woodie | 47.68 | 48.98 | 50.91 | 52.21 | 54.14 | 55.44 | 57.37 |
| Fibonacci | 48.87 | 50.11 | 50.87 | 52.10 | 53.34 | 54.10 | 55.33 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 35.96 | 41.89 | 47.21 | 53.14 | 58.46 | 64.39 | 69.71 |
| Camarilla | 49.43 | 50.46 | 51.49 | 52.52 | 53.55 | 54.58 | 55.61 |
| Woodie | 35.65 | 41.74 | 46.90 | 52.99 | 58.15 | 64.24 | 69.40 |
| Fibonacci | 41.89 | 46.19 | 48.85 | 53.14 | 57.44 | 60.10 | 64.39 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 16.56 | 30.88 | 49.39 | 63.71 | 82.22 | 96.54 | 115.05 |
| Camarilla | 58.86 | 61.87 | 64.88 | 67.89 | 70.90 | 73.91 | 76.92 |
| Woodie | 18.65 | 31.93 | 51.48 | 64.76 | 84.31 | 97.59 | 117.14 |
| Fibonacci | 30.88 | 43.42 | 51.17 | 63.71 | 76.25 | 84.00 | 96.54 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 52.78 | |
| MACD (12,26,9): | 0.2200 | |
| Directional Movement: | 0.83 | |
| AROON (14): | 42.86 | |
| DEMA (21): | 52.58 | |
| Parabolic SAR (0,02-0,02-0,2): | 51.61 | |
| Elder Ray (13): | -0.02 | |
| Super Trend (3,10): | 51.09 | |
| Zig ZAG (10): | 52.40 | |
| VORTEX (21): | 1.0200 | |
| Stochastique (14,3,5): | 40.22 | |
| TEMA (21): | 52.61 | |
| Williams %R (14): | -66.99 | |
| Chande Momentum Oscillator (20): | -0.22 | |
| Repulse (5,40,3): | -0.3500 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0900 | |
| Courbe Coppock: | 1.16 |
| MA7: | 52.92 | |
| MA20: | 55.32 | |
| MA50: | 59.41 | |
| MA100: | 48.41 | |
| MAexp7: | 52.39 | |
| MAexp20: | 52.24 | |
| MAexp50: | 51.99 | |
| MAexp100: | 52.36 | |
| Price / MA7: | -0.93% | |
| Price / MA20: | -5.22% | |
| Price / MA50: | -11.75% | |
| Price / MA100: | +8.30% | |
| Price / MAexp7: | +0.08% | |
| Price / MAexp20: | +0.36% | |
| Price / MAexp50: | +0.85% | |
| Price / MAexp100: | +0.13% |
Quotes :
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Real time data
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Cryptocompare
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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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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