GOLD - USD

- USD (-)

- Real time data - Gold & Silver Spot

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Type:	Commodities
Ticker:	XAUUSD
ISIN:

GOLD - USD - Daily - Technical analysis published on 05/16/2024 (GMT)

Londinia

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Bullish

Underlying: Strongly bullish

Technical indicators

72%

11%

17%

My opinion

Bullish above 2,291.38 USD

My targets

2,405.78 USD (+1.18%)

2,520.18 USD (+5.99%)

My analysis

All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on GOLD - USD as long as the price remains well above 2,291.38 USD. The buyers' bullish objective is set at 2,405.78 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 2,520.18 USD. If there is any crossing, the next objective would be the resistance located at 2,608.81 USD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.

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

Force

7.3

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 philiptino88. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The GOLD - USD rating is 2,377.78 USD. On the day, this instrument lost -0.59% and was between 2,371.01 USD and 2,397.46 USD. This implies that the price is at +0.29% from its lowest and at -0.82% from its highest.

2,371.01

2,397.46

2,377.78

The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.

Bearish opening

Type : Bearish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by GOLD - USD:

The Central Records scanner for higher/lower results shows the following items:

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

Technical analysis of GOLD - USD in Daily shows a strongly overall bullish trend. 89.29% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages indicate this trend is showing signs of running out of steam. There is no crossing of moving average by the price or crossing of moving averages between themselves.

An assessment of technical indicators shows a strong bullish signal.
Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Previous candle closed over Bollinger bands

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Central Indicators, the detector scanner for these technical indicators recently detected a signal:

Price is back under the pivot point

Type : Bearish

Timeframe : Daily

No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.

Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:

Bearish harami

Type : Bearish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1
ProTrendLines	2,049.28	2,183.68	2,291.38	2,377.78	2,390.13
Change (%)	-13.82%	-8.16%	-3.63%	-	+0.52%
Change	-328.50	-194.10	-86.40	-	+12.35
Level	Major	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	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):	60.16
MACD (12,26,9):	21.6100
Directional Movement:	13.10
AROON (14):	64.29
DEMA (21):	2,367.68
Parabolic SAR (0,02-0,02-0,2):	2,296.36
Elder Ray (13):	36.90
Super Trend (3,10):	2,279.16
Zig ZAG (10):	2,378.07
VORTEX (21):	1.0200
Stochastique (14,3,5):	87.10
TEMA (21):	2,357.13
Williams %R (14):	-16.22
Chande Momentum Oscillator (20):	86.68
Repulse (5,40,3):	1.1100
ROCnROLL:	1
TRIX (15,9):	0.1200
Courbe Coppock:	1.89

MA7:	2,354.71
MA20:	2,335.37
MA50:	2,284.67
MA100:	2,161.76
MAexp7:	2,359.07
MAexp20:	2,337.32
MAexp50:	2,278.66
MAexp100:	2,197.23
Price / MA7:	+0.98%
Price / MA20:	+1.82%
Price / MA50:	+4.08%
Price / MA100:	+9.99%
Price / MAexp7:	+0.79%
Price / MAexp20:	+1.73%
Price / MAexp50:	+4.35%
Price / MAexp100:	+8.22%

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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