SPDR GOLD TRUST - 1H - Technical analysis published on 09/14/2023 (GMT)
- 98
- 0
Oops, I was wrong about that analysis. My threshold for invalidation has been broken.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
56%
28%
My opinion
Bearish under 177.71 USD
My targets
175.93 USD (-0.65%)
174.94 USD (-1.21%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on SPDR GOLD TRUST as long as the price remains well below 177.71 USD. The sellers' bearish objective is set at 175.93 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 174.94 USD. In case of crossing, the next objective would be the support located at 173.61 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
7.3
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 hedgemats. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The SPDR GOLD TRUST rating is 177.08 USD. On the day, this instrument lost -0.23% and was between 177.04 USD and 177.75 USD. This implies that the price is at +0.02% from its lowest and at -0.38% from its highest.177.04
177.75
177.08
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.
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:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of SPDR GOLD TRUST indicates that the overall trend is strongly bearish. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong 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.
In fact, 10 technical indicators on 18 studied are currently bearish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 173.61 | 174.94 | 175.93 | 177.08 | 177.11 | 177.71 | 178.48 |
| Change (%) | -1.96% | -1.21% | -0.65% | - | +0.02% | +0.36% | +0.79% |
| Change | -3.47 | -2.14 | -1.15 | - | +0.03 | +0.63 | +1.40 |
| Level | Major | Major | Minor | - | Major | Intermediate | Minor |
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 | 176.12 | 176.58 | 176.83 | 177.29 | 177.54 | 178.00 | 178.25 |
| Camarilla | 176.89 | 176.95 | 177.02 | 177.08 | 177.15 | 177.21 | 177.28 |
| Woodie | 176.02 | 176.53 | 176.73 | 177.24 | 177.44 | 177.95 | 178.15 |
| Fibonacci | 176.58 | 176.85 | 177.02 | 177.29 | 177.56 | 177.73 | 178.00 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 175.63 | 176.67 | 177.37 | 178.41 | 179.11 | 180.15 | 180.85 |
| Camarilla | 177.60 | 177.76 | 177.92 | 178.08 | 178.24 | 178.40 | 178.56 |
| Woodie | 175.47 | 176.59 | 177.21 | 178.33 | 178.95 | 180.07 | 180.69 |
| Fibonacci | 176.67 | 177.33 | 177.74 | 178.41 | 179.07 | 179.48 | 180.15 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 169.72 | 172.33 | 176.17 | 178.78 | 182.62 | 185.23 | 189.07 |
| Camarilla | 178.25 | 178.84 | 179.43 | 180.02 | 180.61 | 181.20 | 181.79 |
| Woodie | 170.35 | 172.64 | 176.80 | 179.09 | 183.25 | 185.54 | 189.70 |
| Fibonacci | 172.33 | 174.79 | 176.31 | 178.78 | 181.24 | 182.76 | 185.23 |
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): | 35.35 | |
| MACD (12,26,9): | -0.3100 | |
| Directional Movement: | -7.35 | |
| AROON (14): | -85.71 | |
| DEMA (21): | 177.16 | |
| Parabolic SAR (0,02-0,02-0,2): | 178.54 | |
| Elder Ray (13): | -0.30 | |
| Super Trend (3,10): | 177.99 | |
| Zig ZAG (10): | 177.09 | |
| VORTEX (21): | 0.9100 | |
| Stochastique (14,3,5): | 9.97 | |
| TEMA (21): | 177.08 | |
| Williams %R (14): | -91.61 | |
| Chande Momentum Oscillator (20): | -0.30 | |
| Repulse (5,40,3): | -0.0900 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0200 | |
| Courbe Coppock: | 0.98 |
| MA7: | 177.94 | |
| MA20: | 177.77 | |
| MA50: | 179.26 | |
| MA100: | 181.09 | |
| MAexp7: | 177.24 | |
| MAexp20: | 177.56 | |
| MAexp50: | 178.01 | |
| MAexp100: | 178.22 | |
| Price / MA7: | -0.48% | |
| Price / MA20: | -0.39% | |
| Price / MA50: | -1.22% | |
| Price / MA100: | -2.21% | |
| Price / MAexp7: | -0.08% | |
| Price / MAexp20: | -0.26% | |
| Price / MAexp50: | -0.51% | |
| Price / MAexp100: | -0.63% |
Quotes :
-
15 min delayed data
-
NYSE MKT Stocks
This member declared not having a position on this financial instrument or a related financial instrument.
About author
Online
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…
Add a comment
Comments
0 comments on the analysis SPDR GOLD TRUST - 1H