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 05/16/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : LEVEL MAINTAINED

Summary of the analysis

Trends

Short term: Neutral

Underlying: Bullish

Technical indicators

22%

44%

33%

My opinion

Bullish above 2,351.89 USD

My targets

2,390.13 USD (+0.29%)

My analysis

Has the basic bullish 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 bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 2,351.89 USD remains possible. It is advisable to trade GOLD - USD with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 2,351.89 USD. The next bullish objective for buyers is set at 2,390.13 USD. A bullish break in this resistance would boost the bullish momentum. PS: if there is a bearish break in the support located at 2,351.89 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.

In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.

Force

2.5

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 unkybob. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

GOLD - USD rating 2,383.27 USD. On the day, this instrument lost -0.36% and was between 2,383.21 USD and 2,397.46 USD. This implies that the price is at +0.00% from its lowest and at -0.59% from its highest.

2,383.21

2,397.46

2,383.27

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

Bearish opening

Type : Bearish

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 LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

A technical analysis in 1H of this GOLD - USD chart shows a bullish trend. 75.00% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 4 are bullish, 6 are neutral and 8 are bearish. Caution: the Central Indicators scanner currently detects an excess:

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

The Central Indicators scanner found no further results concerning independent technical indicators.

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

Central Candlesticks, the scanner specialised in Japanese candlesticks, detects these signals that could have an impact on the current short-term trend:

Bullish harami

Type : Bullish

Timeframe : 1 hour

Doji

Type : Neutral

Timeframe : 1 hour

Three black crows

Type : Bearish

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1
ProTrendLines	2,332.17	2,351.89	2,378.50	2,383.27	2,390.13
Change (%)	-2.14%	-1.32%	-0.20%	-	+0.29%
Change	-51.10	-31.38	-4.77	-	+6.86
Level	Intermediate	Minor	Minor	-	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	2,325.06	2,338.48	2,365.16	2,378.58	2,405.26	2,418.68	2,445.36
Camarilla	2,380.82	2,384.50	2,388.17	2,391.85	2,395.53	2,399.20	2,402.88
Woodie	2,331.70	2,341.80	2,371.80	2,381.90	2,411.90	2,422.00	2,452.00
Fibonacci	2,338.48	2,353.80	2,363.26	2,378.58	2,393.90	2,403.36	2,418.68

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2,224.09	2,257.98	2,310.73	2,344.62	2,397.37	2,431.26	2,484.01
Camarilla	2,339.66	2,347.61	2,355.55	2,363.49	2,371.43	2,379.37	2,387.32
Woodie	2,233.53	2,262.70	2,320.17	2,349.34	2,406.81	2,435.98	2,493.45
Fibonacci	2,257.98	2,291.07	2,311.52	2,344.62	2,377.71	2,398.16	2,431.26

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):	53.54
MACD (12,26,9):	4.8800
Directional Movement:	9.07
AROON (14):	-64.29
DEMA (21):	2,391.71
Parabolic SAR (0,02-0,02-0,2):	2,397.18
Elder Ray (13):	-1.86
Super Trend (3,10):	2,374.69
Zig ZAG (10):	2,383.57
VORTEX (21):	1.2500
Stochastique (14,3,5):	10.60
TEMA (21):	2,390.18
Williams %R (14):	-97.15
Chande Momentum Oscillator (20):	-5.20
Repulse (5,40,3):	-0.2100
ROCnROLL:	-1
TRIX (15,9):	0.0400
Courbe Coppock:	0.21

MA7:	2,355.61
MA20:	2,335.70
MA50:	2,284.80
MA100:	2,161.83
MAexp7:	2,386.77
MAexp20:	2,384.25
MAexp50:	2,373.14
MAexp100:	2,361.01
Price / MA7:	+1.17%
Price / MA20:	+2.04%
Price / MA50:	+4.31%
Price / MA100:	+10.24%
Price / MAexp7:	-0.15%
Price / MAexp20:	-0.04%
Price / MAexp50:	+0.43%
Price / MAexp100:	+0.94%

Quotes : - Real time data - Gold & Silver Spot

News

Don't forget to follow the news on GOLD - USD. At the time of publication of this analysis, the latest news was as follows:

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

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