Gold (GC) is tiring near upchannel support (on the weekly chart), putting at risk the rally extension since February. Any break of the daily chart triangle support will likely coincide with a test of the psychologically key 1900 whole figure level and the 50% Fib Retrace of August to March rally extension…
Gold (GC) has bounced off upchannel support (on the weekly chart) and is in the advanced stages of completing the month plus consolidation from the 2022 high. Odds are high for more upward momentum today with GC trying to extend the upchannel (on the 4hr chart) and GC near the highest level in a month…
Gold (GC) is consolidating in today’s Asia morning, testing triangle support (on the 4hr chart). Significantly, GC is back below the 38.2% Fib retrace of the August to March rally extension, and is at risk of breaking below triangle support (on the daily chart) after today’s highly anticipated FOMC Minutes at 2pm EST…
Gold (GC) appears ready to consolidate in the next day or so as it struggles to form a 5th straight green daily candle. Significantly, although odds are good for GC to break its record high (from 2020) before month end, GC will want to take a breather as it bumps up against upchannel resistance (on the 4hr chart)…
Gold (GC) appears ready for consolidation in the next day or so after the strong bounce this past week off the psychologically key 1800 whole figure level. Significantly, GC has rebounded off triangle support (on the weekly chart), with a decent likelihood of completing this triangle by month end…
Gold (GC) is consolidating in today’s Asia morning after yesterday’s break above triangle resistance (on the 4hr and daily chart). Significantly, today’s highly anticipated FOMC and US Fed rate announcement at 2pm EST could be the catalyst for GC to test the weekly chart triangle resistance…
Gold (GC) is consolidating yesterday’s bounce off the psychologically key 1800 whole figure level in today’s Asia morning. Significantly, GC has reclaimed the 50% Fib retrace of the slide from the November peak, and appears to be gearing up for a test of the weekly chart triangle resistance sometime in January…
Gold (GC) is entering the advanced stages of a bottoming effort after the slide from the November high. Significantly, GC is trying to reclaim an uptrend support line connecting the August low to the lows in September and November, after briefly breaking below it last week…
Gold (GC) saw some healthy profittaking yesterday but appears to be in the early stages of firming as it nears upchannel support (on the daily chart). Significantly, GC is testing triangle resistance (on the weekly chart), and appears to be gearing up for a bullish move within a massive consolidation since the August 2020 record high…
Gold (GC) is edging lower consolidating for a 4th straight day as part of the effort to halt a slide since the September high. Significantly, GC still remains within a massive consolidation since the August 2020 record high, where for bulls to begin seeing momentum to the upside, they’ll want to see GC break above the July and August 2021 highs…
