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 05/03/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Bearish

Underlying: Strongly bearish

Technical indicators

11%

39%

50%

My opinion

Bearish under 2,316.32 USD

My targets

2,285.45 USD (-0.68%)

2,183.68 USD (-5.11%)

My analysis

The bearish basic trend is very strong on GOLD - USD but the short term shows some signs of running out of steam. However, a sale could be considered as long as the price remains below 2,316.32 USD. Crossing the first support at 2,285.45 USD would be a sign of a further potential price plummet. Sellers would then use the next support located at 2,183.68 USD as an objective. Crossing it would then enable sellers to target 2,049.28 USD. Caution, a return to above the resistance located at 2,316.32 USD would be a sign of a possible consolidation phase of the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.

Force

5.5

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

GOLD - USD rating 2,301.19 USD. On the day, this instrument lost -0.13% and was traded between 2,299.91 USD and 2,308.82 USD over the period. The price is currently at +0.06% from its lowest and -0.33% from its highest.

2,299.91

2,308.82

2,301.19

The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.

Bullish opening

Type : Bullish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

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 LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

A technical analysis in 1H of this GOLD - USD chart shows a sharp bearish trend. The signals given by moving averages are 82.14% bearish. This strongly bearish trend seems to be slowing down given the slightly bearish signals being given by short-term moving averages. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:

Bearish price crossover with Moving Average 20

Type : Bearish

Timeframe : 1 hour

Bearish price crossover with Moving Average 50

Type : Bearish

Timeframe : 1 hour

Bearish price crossover with adaptative moving average 50

Type : Bearish

Timeframe : 1 hour

The probability of a further decline is low given the direction of the technical indicators.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

RSI indicator is back under 50

Type : Bearish

Timeframe : 1 hour

Price is back under the pivot point

Type : Bearish

Timeframe : 1 hour

Williams %R indicator is back under -50

Type : Bearish

Timeframe : 1 hour

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	2,183.68	2,285.45	2,295.76	2,301.19	2,305.17	2,316.32	2,328.49
Change (%)	-5.11%	-0.68%	-0.24%	-	+0.17%	+0.66%	+1.19%
Change	-117.51	-15.74	-5.43	-	+3.98	+15.13	+27.30
Level	Minor	Intermediate	Minor	-	Minor	Minor	Intermediate

Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2,243.35	2,264.43	2,284.34	2,305.42	2,325.33	2,346.41	2,366.32
Camarilla	2,292.97	2,296.73	2,300.48	2,304.24	2,308.00	2,311.76	2,315.51
Woodie	2,242.76	2,264.14	2,283.75	2,305.13	2,324.74	2,346.12	2,365.73
Fibonacci	2,264.43	2,280.09	2,289.77	2,305.42	2,321.08	2,330.76	2,346.41

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2,187.28	2,239.38	2,287.70	2,339.80	2,388.12	2,440.22	2,488.54
Camarilla	2,308.41	2,317.61	2,326.82	2,336.02	2,345.23	2,354.43	2,363.64
Woodie	2,185.39	2,238.44	2,285.81	2,338.86	2,386.23	2,439.28	2,486.65
Fibonacci	2,239.38	2,277.74	2,301.44	2,339.80	2,378.16	2,401.86	2,440.22

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 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):	45.15
MACD (12,26,9):	-0.6900
Directional Movement:	-3.89
AROON (14):	14.29
DEMA (21):	2,303.15
Parabolic SAR (0,02-0,02-0,2):	2,290.69
Elder Ray (13):	-0.32
Super Trend (3,10):	2,312.73
Zig ZAG (10):	2,301.33
VORTEX (21):	1.0100
Stochastique (14,3,5):	56.14
TEMA (21):	2,302.86
Williams %R (14):	-86.58
Chande Momentum Oscillator (20):	-7.22
Repulse (5,40,3):	-0.2600
ROCnROLL:	2
TRIX (15,9):	-0.0100
Courbe Coppock:	0.26

MA7:	2,317.26
MA20:	2,342.38
MA50:	2,235.20
MA100:	2,134.12
MAexp7:	2,303.80
MAexp20:	2,304.16
MAexp50:	2,305.96
MAexp100:	2,311.43
Price / MA7:	-0.69%
Price / MA20:	-1.76%
Price / MA50:	+2.95%
Price / MA100:	+7.83%
Price / MAexp7:	-0.11%
Price / MAexp20:	-0.13%
Price / MAexp50:	-0.21%
Price / MAexp100:	-0.44%

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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