GOLD - USD - Daily - Technical analysis published on 09/11/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
50%
11%
39%
My opinion
Bullish above 2,466.44 USD
My targets
2,568.53 USD (+1.94%)
2,633.84 USD (+4.53%)
My analysis
The bullish trend is currently very strong on GOLD - USD. As long as the price remains above the support at 2,466.44 USD, you could try to benefit from the boom. The first bullish objective is located at 2,568.53 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 2,633.84 USD as an objective. Crossing it would then enable buyers to target 2,735.93 USD. 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 confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.3
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This analysis was given by Anasabbas1991. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
GOLD - USD rating 2,519.58 USD. The price registered an increase of +0.03% on the session and was between 2,515.01 USD and 2,529.07 USD. This implies that the price is at +0.18% from its lowest and at -0.38% from its highest.2,515.01
2,529.07
2,519.58
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:
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 Daily 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.
An assessment of technical indicators shows a slightly bullish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
Price
S3 | S2 | S1 | Price | R1 | |
---|---|---|---|---|---|
ProTrendLines | 2,049.28 | 2,294.05 | 2,362.61 | 2,519.58 | 2,525.34 |
Change (%) | -18.67% | -8.95% | -6.23% | - | +0.23% |
Change | -470.30 | -225.53 | -156.97 | - | +5.76 |
Level | Major | Intermediate | Intermediate | - | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 2,487.57 | 2,493.87 | 2,506.30 | 2,512.60 | 2,525.03 | 2,531.33 | 2,543.76 |
Camarilla | 2,513.58 | 2,515.30 | 2,517.01 | 2,518.73 | 2,520.45 | 2,522.16 | 2,523.88 |
Woodie | 2,490.64 | 2,495.40 | 2,509.37 | 2,514.13 | 2,528.10 | 2,532.86 | 2,546.83 |
Fibonacci | 2,493.87 | 2,501.03 | 2,505.45 | 2,512.60 | 2,519.76 | 2,524.18 | 2,531.33 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 2,412.37 | 2,442.13 | 2,469.76 | 2,499.52 | 2,527.15 | 2,556.91 | 2,584.54 |
Camarilla | 2,481.61 | 2,486.87 | 2,492.13 | 2,497.39 | 2,502.65 | 2,507.91 | 2,513.17 |
Woodie | 2,411.31 | 2,441.60 | 2,468.70 | 2,498.99 | 2,526.09 | 2,556.38 | 2,583.48 |
Fibonacci | 2,442.13 | 2,464.05 | 2,477.60 | 2,499.52 | 2,521.44 | 2,534.99 | 2,556.91 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 2,233.73 | 2,299.04 | 2,401.13 | 2,466.44 | 2,568.53 | 2,633.84 | 2,735.93 |
Camarilla | 2,457.20 | 2,472.54 | 2,487.89 | 2,503.23 | 2,518.58 | 2,533.92 | 2,549.27 |
Woodie | 2,252.13 | 2,308.24 | 2,419.53 | 2,475.64 | 2,586.93 | 2,643.04 | 2,754.33 |
Fibonacci | 2,299.04 | 2,362.98 | 2,402.49 | 2,466.44 | 2,530.38 | 2,569.89 | 2,633.84 |
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): | 59.83 | |
MACD (12,26,9): | 19.2100 | |
Directional Movement: | 5.83 | |
AROON (14): | 78.57 | |
DEMA (21): | 2,523.80 | |
Parabolic SAR (0,02-0,02-0,2): | 2,475.26 | |
Elder Ray (13): | 16.74 | |
Super Trend (3,10): | 2,435.72 | |
Zig ZAG (10): | 2,519.88 | |
VORTEX (21): | 1.0900 | |
Stochastique (14,3,5): | 75.53 | |
TEMA (21): | 2,520.44 | |
Williams %R (14): | -16.85 | |
Chande Momentum Oscillator (20): | 4.11 | |
Repulse (5,40,3): | 0.7600 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.1300 | |
Courbe Coppock: | 0.73 |
MA7: | 2,506.99 | |
MA20: | 2,505.61 | |
MA50: | 2,449.62 | |
MA100: | 2,394.31 | |
MAexp7: | 2,510.52 | |
MAexp20: | 2,496.01 | |
MAexp50: | 2,453.61 | |
MAexp100: | 2,389.76 | |
Price / MA7: | +0.50% | |
Price / MA20: | +0.56% | |
Price / MA50: | +2.86% | |
Price / MA100: | +5.23% | |
Price / MAexp7: | +0.36% | |
Price / MAexp20: | +0.94% | |
Price / MAexp50: | +2.69% | |
Price / MAexp100: | +5.43% |
Quotes :
-
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 Consolidates on Tuesday: Forecast & Technical Analysis by Bruce Powers (September 10)
- Gold Forecast September 10, 2024
- Gold, Continues to See Buyers: XAU/USD Technical Analysis by Chris Lewis for FX Empire (09/09)
- Gold Continues to See Buyers: XAU/USD Forecast & Technical Analysis by Chris Lewis (September 9)
- Paris 2024 Paralympics draws to a close with ParalympicsGB winning 49 gold medals
This member declared not having a position on this financial instrument or a related financial instrument.
About author
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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