GOLD - CAD - 1H - Technical analysis published on 01/14/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bearish
Technical indicators
67%
0%
33%
My opinion
Bearish under 2,029.72 CAD
My targets
2,006.47 CAD (-0.66%)
1,989.61 CAD (-1.50%)
My analysis
Has the basic bearish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bearish trend or a rebound. Sellers” generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 2,029.72 CAD remains possible. It is advisable to trade OUNCE GOLD CAD with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 2,029.72 CAD. The next bearish objective for sellers is set at 2,006.47 CAD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 1,989.61 CAD. In case of crossing, the next objective would be the support located at 1,969.62 CAD. PS: if there is a bullish break in the resistance located at 2,029.72 CAD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
In the very short term, technical indicators are in opposition with the general bearish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
FORCE
0
10
0.4
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This analysis was given by Frederico Pereira.
Additional analysis
Quotes
The OUNCE GOLD CAD rating is 2,019.81 CAD. On the day, this instrument gained +0.11% and was traded between 2,005.37 CAD and 2,022.08 CAD over the period. The price is currently at +0.72% from its lowest and -0.11% from its highest.2,005.37
2,022.08
2,019.81
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
The Central Volumes scanner notes the presence of abnormal volumes:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Abnormal volumes
Timeframe : 50 days
Technical
Technical analysis of this 1H chart of OUNCE GOLD CAD indicates that the overall trend is bearish. The signals given by moving averages are 71.43% bearish. This bearish trend could slow down given the neutral signals currently being given by short-term moving averages. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish trend reversal : Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
In fact, 12 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1,989.61 | 2,006.47 | 2,016.56 | 2,019.81 | 2,029.72 | 2,040.99 | 2,066.42 |
| Change (%) | -1.50% | -0.66% | -0.16% | - | +0.49% | +1.05% | +2.31% |
| Change | -30.20 | -13.34 | -3.25 | - | +9.91 | +21.18 | +46.61 |
| Level | Intermediate | Minor | Major | - | Minor | 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 | 1,984.74 | 2,000.69 | 2,009.12 | 2,025.07 | 2,033.50 | 2,049.45 | 2,057.88 |
| Camarilla | 2,010.85 | 2,013.08 | 2,015.32 | 2,017.55 | 2,019.79 | 2,022.02 | 2,024.25 |
| Woodie | 1,980.98 | 1,998.81 | 2,005.36 | 2,023.19 | 2,029.74 | 2,047.57 | 2,054.12 |
| Fibonacci | 2,000.69 | 2,010.00 | 2,015.76 | 2,025.07 | 2,034.38 | 2,040.14 | 2,049.45 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,913.47 | 1,961.00 | 1,999.94 | 2,047.47 | 2,086.41 | 2,133.94 | 2,172.88 |
| Camarilla | 2,015.09 | 2,023.02 | 2,030.94 | 2,038.87 | 2,046.80 | 2,054.72 | 2,062.65 |
| Woodie | 1,909.17 | 1,958.85 | 1,995.64 | 2,045.32 | 2,082.11 | 2,131.79 | 2,168.58 |
| Fibonacci | 1,961.00 | 1,994.04 | 2,014.44 | 2,047.47 | 2,080.51 | 2,100.91 | 2,133.94 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1,868.37 | 1,896.07 | 1,935.22 | 1,962.92 | 2,002.07 | 2,029.77 | 2,068.92 |
| Camarilla | 1,955.99 | 1,962.11 | 1,968.24 | 1,974.37 | 1,980.50 | 1,986.63 | 1,992.75 |
| Woodie | 1,874.10 | 1,898.93 | 1,940.95 | 1,965.78 | 2,007.80 | 2,032.63 | 2,074.65 |
| Fibonacci | 1,896.07 | 1,921.61 | 1,937.38 | 1,962.92 | 1,988.46 | 2,004.23 | 2,029.77 |
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): | 52.40 | |
| MACD (12,26,9): | -0.7600 | |
| Directional Movement: | 6.45 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 2,015.93 | |
| Parabolic SAR (0,02-0,02-0,2): | 2,012.63 | |
| Elder Ray (13): | 1.64 | |
| Super Trend (3,10): | 2,006.89 | |
| Zig ZAG (10): | 2,019.68 | |
| VORTEX (21): | 1.0200 | |
| Stochastique (14,3,5): | 77.90 | |
| TEMA (21): | 2,017.41 | |
| Williams %R (14): | -18.66 | |
| Chande Momentum Oscillator (20): | 0.23 | |
| Repulse (5,40,3): | 0.1000 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 0.49 |
| MA7: | 2,033.57 | |
| MA20: | 1,991.97 | |
| MA50: | 1,961.97 | |
| MA100: | 1,974.29 | |
| MAexp7: | 2,017.05 | |
| MAexp20: | 2,017.45 | |
| MAexp50: | 2,020.69 | |
| MAexp100: | 2,023.52 | |
| Price / MA7: | -0.68% | |
| Price / MA20: | +1.40% | |
| Price / MA50: | +2.95% | |
| Price / MA100: | +2.31% | |
| Price / MAexp7: | +0.14% | |
| Price / MAexp20: | +0.12% | |
| Price / MAexp50: | -0.04% | |
| Price / MAexp100: | -0.18% |
This member declared not having a position on this financial instrument or a related financial instrument.
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