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 08/07/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

11%

67%

22%

My opinion

Bearish under 2,396.28 USD

My targets

2,362.61 USD (-0.91%)

2,294.05 USD (-3.79%)

My analysis

All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on GOLD - USD as long as the price remains well below 2,396.28 USD. The sellers' bearish objective is set at 2,362.61 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 2,294.05 USD. In case of crossing, the next objective would be the support located at 2,049.28 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.

In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.

Force

7.9

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

Additional analysis

Quotes

The GOLD - USD price is 2,384.41 USD. The price has increased by +0.02% since the last closing and was traded between 2,379.06 USD and 2,387.66 USD over the period. The price is currently at +0.22% from its lowest and -0.14% from its highest.

2,379.06

2,387.66

2,384.41

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

Bearish opening

Type : Bearish

Timeframe : Openning

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

The study of the highest / lowest by the Central Records scanner shows the following results:

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

Technical analysis of this 1H chart of GOLD - USD indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals 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, 12 technical indicators on 18 studied are currently bearish. Caution: the Central Indicators scanner currently detects an excess:

MACD indicator: bullish divergence

Type : Bullish

Timeframe : 1 hour

Williams %R indicator is oversold : under -80

Type : Neutral

Timeframe : 1 hour

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

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly

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

For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:

Bullish harami

Type : Bullish

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	2,294.05	2,362.61	2,383.44	2,384.41	2,396.28	2,426.21	2,458.65
Change (%)	-3.79%	-0.91%	-0.04%	-	+0.50%	+1.75%	+3.11%
Change	-90.36	-21.80	-0.97	-	+11.87	+41.80	+74.24
Level	Intermediate	Major	Minor	-	Major	Intermediate	Minor

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2,334.35	2,358.05	2,371.00	2,394.70	2,407.65	2,431.35	2,444.30
Camarilla	2,373.87	2,377.23	2,380.59	2,383.95	2,387.31	2,390.67	2,394.03
Woodie	2,328.98	2,355.36	2,365.63	2,392.01	2,402.28	2,428.66	2,438.93
Fibonacci	2,358.05	2,372.05	2,380.70	2,394.70	2,408.70	2,417.35	2,431.35

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2,274.63	2,322.18	2,382.61	2,430.16	2,490.59	2,538.14	2,598.57
Camarilla	2,413.35	2,423.24	2,433.14	2,443.04	2,452.94	2,462.84	2,472.74
Woodie	2,281.07	2,325.40	2,389.05	2,433.38	2,497.03	2,541.36	2,605.01
Fibonacci	2,322.18	2,363.43	2,388.91	2,430.16	2,471.41	2,496.89	2,538.14

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2,183.11	2,250.83	2,348.31	2,416.03	2,513.51	2,581.23	2,678.71
Camarilla	2,400.37	2,415.51	2,430.66	2,445.80	2,460.94	2,476.09	2,491.23
Woodie	2,198.00	2,258.27	2,363.20	2,423.47	2,528.40	2,588.67	2,693.60
Fibonacci	2,250.83	2,313.93	2,352.92	2,416.03	2,479.13	2,518.12	2,581.23

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):	39.29
MACD (12,26,9):	-6.4600
Directional Movement:	-16.04
AROON (14):	-92.86
DEMA (21):	2,383.78
Parabolic SAR (0,02-0,02-0,2):	2,397.95
Elder Ray (13):	-5.36
Super Trend (3,10):	2,405.31
Zig ZAG (10):	2,381.72
VORTEX (21):	0.8900
Stochastique (14,3,5):	15.84
TEMA (21):	2,382.97
Williams %R (14):	-87.98
Chande Momentum Oscillator (20):	-6.16
Repulse (5,40,3):	-0.1900
ROCnROLL:	2
TRIX (15,9):	-0.0400
Courbe Coppock:	1.34

MA7:	2,416.70
MA20:	2,413.77
MA50:	2,367.38
MA100:	2,344.71
MAexp7:	2,386.46
MAexp20:	2,393.00
MAexp50:	2,404.98
MAexp100:	2,412.84
Price / MA7:	-1.34%
Price / MA20:	-1.22%
Price / MA50:	+0.72%
Price / MA100:	+1.69%
Price / MAexp7:	-0.09%
Price / MAexp20:	-0.36%
Price / MAexp50:	-0.86%
Price / MAexp100:	-1.18%

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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