GOLD - USD - 1H - Technical analysis published on 06/20/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
17%
39%
44%
My opinion
Bullish above 2,326.68 USD
My targets
2,341.70 USD (+0.32%)
2,390.13 USD (+2.40%)
My analysis
The bullish trend is currently very strong on GOLD - USD. As long as the price remains above the support at 2,326.68 USD, you could try to benefit from the boom. The first bullish objective is located at 2,341.70 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 2,390.13 USD as an objective. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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.
In the very short term, technical indicators are in opposition with the general bullish 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
5.4
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This analysis was given by jann1414. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GOLD - USD price is 2,334.12 USD. The price registered an increase of +0.20% on the session and was traded between 2,327.77 USD and 2,345.72 USD over the period. The price is currently at +0.27% from its lowest and -0.49% from its highest.2,327.77
2,345.72
2,334.12
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.
![Central Gaps Central Gaps](/medias/screeners/logo/CentralGaps.png)
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
![Central Records Central Records](/medias/screeners/logo/CentralRecords.png)
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 HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this GOLD - USD chart shows a strongly bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, only 7 technical indicators out of 18 studied are currently positioned bearish. Central Indicators, the detector scanner for these technical indicators recently detected a signal:
![Central Indicators Central Indicators](/medias/screeners/logo/CentralIndicators.png)
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 2,295.65 | 2,306.61 | 2,326.68 | 2,334.12 | 2,335.11 | 2,341.70 | 2,390.13 |
Change (%) | -1.65% | -1.18% | -0.32% | - | +0.04% | +0.32% | +2.40% |
Change | -38.47 | -27.51 | -7.44 | - | +0.99 | +7.58 | +56.01 |
Level | Intermediate | Intermediate | 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 | 2,312.65 | 2,318.25 | 2,323.84 | 2,329.44 | 2,335.03 | 2,340.63 | 2,346.22 |
Camarilla | 2,326.35 | 2,327.38 | 2,328.40 | 2,329.43 | 2,330.46 | 2,331.48 | 2,332.51 |
Woodie | 2,312.65 | 2,318.25 | 2,323.84 | 2,329.44 | 2,335.03 | 2,340.63 | 2,346.22 |
Fibonacci | 2,318.25 | 2,322.53 | 2,325.17 | 2,329.44 | 2,333.72 | 2,336.36 | 2,340.63 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 2,244.31 | 2,266.05 | 2,298.23 | 2,319.97 | 2,352.15 | 2,373.89 | 2,406.07 |
Camarilla | 2,315.59 | 2,320.54 | 2,325.48 | 2,330.42 | 2,335.36 | 2,340.31 | 2,345.25 |
Woodie | 2,249.54 | 2,268.66 | 2,303.46 | 2,322.58 | 2,357.38 | 2,376.50 | 2,411.30 |
Fibonacci | 2,266.05 | 2,286.64 | 2,299.37 | 2,319.97 | 2,340.56 | 2,353.29 | 2,373.89 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 2,081.27 | 2,179.31 | 2,254.02 | 2,352.06 | 2,426.77 | 2,524.81 | 2,599.52 |
Camarilla | 2,281.23 | 2,297.07 | 2,312.91 | 2,328.74 | 2,344.58 | 2,360.41 | 2,376.25 |
Woodie | 2,069.62 | 2,173.48 | 2,242.37 | 2,346.23 | 2,415.12 | 2,518.98 | 2,587.87 |
Fibonacci | 2,179.31 | 2,245.30 | 2,286.07 | 2,352.06 | 2,418.05 | 2,458.82 | 2,524.81 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
RSI (14): | 52.87 | |
MACD (12,26,9): | 2.3500 | |
Directional Movement: | 9.40 | |
AROON (14): | 71.43 | |
DEMA (21): | 2,336.88 | |
Parabolic SAR (0,02-0,02-0,2): | 2,345.44 | |
Elder Ray (13): | -0.49 | |
Super Trend (3,10): | 2,329.69 | |
Zig ZAG (10): | 2,333.74 | |
VORTEX (21): | 1.0600 | |
Stochastique (14,3,5): | 40.89 | |
TEMA (21): | 2,337.47 | |
Williams %R (14): | -59.74 | |
Chande Momentum Oscillator (20): | 3.82 | |
Repulse (5,40,3): | -0.1100 | |
ROCnROLL: | -1 | |
TRIX (15,9): | 0.0100 | |
Courbe Coppock: | 0.72 |
MA7: | 2,323.78 | |
MA20: | 2,332.73 | |
MA50: | 2,343.96 | |
MA100: | 2,238.80 | |
MAexp7: | 2,335.89 | |
MAexp20: | 2,333.87 | |
MAexp50: | 2,329.90 | |
MAexp100: | 2,326.80 | |
Price / MA7: | +0.44% | |
Price / MA20: | +0.06% | |
Price / MA50: | -0.42% | |
Price / MA100: | +4.26% | |
Price / MAexp7: | -0.08% | |
Price / MAexp20: | +0.01% | |
Price / MAexp50: | +0.18% | |
Price / MAexp100: | +0.31% |
Quotes :
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Real time data
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Gold & Silver Spot
News
The last news published on GOLD - USD at the time of the generation of this analysis was as follows:
-
Gold Daily Forecast and Technical Analysis for June 19, 2024 by Bruce Powers, CMT, FX Empire
-
Gold Forecast June 20, 2024
-
Gold Daily Forecast and Technical Analysis for June 19, 2024, by Chris Lewis for FX Empire
-
Gold breaking records #gold #xau #goldprice
-
Gold Daily Forecast and Technical Analysis for June 18, 2024 by Bruce Powers, CMT, FX Empire
This member declared not having a position on this financial instrument or a related financial instrument.
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