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 12/05/2024 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : LEVEL MAINTAINED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Neutral

Technical indicators

22%

28%

50%

My opinion

Bearish under 2,716.92 USD

My targets

2,561.40 USD (-2.58%)

2,426.21 USD (-7.72%)

My analysis

The current short-term bearish acceleration registered on GOLD - USD should quickly allow the basic trend to return to a bearish trend. To avoid contradicting the short term, traders could favour short positions (for sale) as long as the price remains well below 2,716.92 USD. Short-term sellers will use the support located at 2,561.40 USD as an objective. A bearish break of this support would revive the bearish momentum. The next bearish objective would then be set at 2,426.21 USD. Crossing this support would then open the door for sellers to target 2,362.07 USD. Caution, if there is a return to below 2,716.92 USD, it should not be forgotten that the basic trend is not yet clearly defined. Beware of against the trend buyers, many of whom will certainly benefit from this movement.

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

Force

1.6

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 specialiste7. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The GOLD - USD price is 2,629.27 USD. The price is lower by -0.80% since the last closing and was between 2,623.57 USD and 2,655.62 USD. This implies that the price is at +0.22% from its lowest and at -0.99% from its highest.

2,623.57

2,655.62

2,629.27

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

So that you have an overall view of the price change, here is a table showing the variations over several periods:

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 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this Daily chart of GOLD - USD indicates that the overall trend is not clearly defined. The trend could quickly turn bearish due to the strong bearish signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

On the 18 technical indicators analysed, 4 are bullish, 9 are neutral and 5 are bearish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is under support 1

Type : Neutral

Timeframe : Daily

Parabolic SAR indicator bearish reversal

Type : Bearish

Timeframe : Daily

Ichimoku : price is under the cloud

Type : Bearish

Timeframe : Daily

Momentum indicator is back under 0

Type : Bearish

Timeframe : Daily

Williams %R indicator is back under -50

Type : Bearish

Timeframe : Daily

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

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

Bearish engulfing lines

Type : Bearish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2
ProTrendLines	2,362.07	2,426.21	2,561.40	2,629.27	2,716.92	2,785.43
Change (%)	-10.16%	-7.72%	-2.58%	-	+3.33%	+5.94%
Change	-267.20	-203.06	-67.87	-	+87.65	+156.16
Level	Minor	Minor	Minor	-	Intermediate	Major

Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2,611.52	2,622.00	2,636.22	2,646.70	2,660.92	2,671.40	2,685.62
Camarilla	2,643.64	2,645.90	2,648.17	2,650.43	2,652.69	2,654.96	2,657.22
Woodie	2,613.38	2,622.94	2,638.08	2,647.64	2,662.78	2,672.34	2,687.48
Fibonacci	2,622.00	2,631.44	2,637.27	2,646.70	2,656.14	2,661.97	2,671.40

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2,480.50	2,542.89	2,596.57	2,658.96	2,712.64	2,775.03	2,828.71
Camarilla	2,618.34	2,628.98	2,639.62	2,650.26	2,660.90	2,671.54	2,682.18
Woodie	2,476.16	2,540.71	2,592.23	2,656.78	2,708.30	2,772.85	2,824.37
Fibonacci	2,542.89	2,587.23	2,614.62	2,658.96	2,703.30	2,730.69	2,775.03

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2,311.93	2,424.40	2,537.33	2,649.80	2,762.73	2,875.20	2,988.13
Camarilla	2,588.28	2,608.94	2,629.60	2,650.26	2,670.92	2,691.58	2,712.25
Woodie	2,312.16	2,424.52	2,537.56	2,649.92	2,762.96	2,875.32	2,988.36
Fibonacci	2,424.40	2,510.50	2,563.70	2,649.80	2,735.90	2,789.10	2,875.20

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):	45.87
MACD (12,26,9):	-7.4100
Directional Movement:	-4.79
AROON (14):	42.86
DEMA (21):	2,636.97
Parabolic SAR (0,02-0,02-0,2):	2,721.34
Elder Ray (13):	-2.58
Super Trend (3,10):	2,574.83
Zig ZAG (10):	2,625.71
VORTEX (21):	0.9700
Stochastique (14,3,5):	51.47
TEMA (21):	2,626.75
Williams %R (14):	-60.40
Chande Momentum Oscillator (20):	-10.04
Repulse (5,40,3):	-1.2000
ROCnROLL:	2
TRIX (15,9):	-0.0600
Courbe Coppock:	2.21

MA7:	2,641.06
MA20:	2,631.27
MA50:	2,668.49
MA100:	2,581.04
MAexp7:	2,639.69
MAexp20:	2,646.81
MAexp50:	2,639.42
MAexp100:	2,578.10
Price / MA7:	-0.45%
Price / MA20:	-0.08%
Price / MA50:	-1.47%
Price / MA100:	+1.87%
Price / MAexp7:	-0.39%
Price / MAexp20:	-0.66%
Price / MAexp50:	-0.38%
Price / MAexp100:	+1.98%

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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