Gold Prediction

[love4ever4nature]

Hi there,

IMO Gold will strongly bounce back @1479 level

[CharlotteIG]

16 hours ago, love4ever4nature said:

Hi there,

IMO Gold will strongly bounce back @1479 level

Hey @love4ever4nature, thanks for your post. 

Josh, one of our analysts wrote a piece on this today: 

You can check out the full article by clicking here.

[dmedin]

This is one of those comical times when people contradict themselves every day.  Josh's 'trade of the week' was short gold, one day later it's long.  Just goes to show how little use technical analysis is when there is no clear trend in the market and when you're trying to spot 'patterns' in extremely short-range charts with arbitrary points of S/R.  He is also 'predicting' that the indices will have a deep retracement, so let's see what's being said this time tomorrow.

Edited November 21, 2019 by dmedin

[CharlotteIG]

You may find this piece better as DailyFX are working off daily but use the whole week as well. 

Gold Price: Signals to Break the Deadlock - XAU/USD Forecast

[dmedin]

1 hour ago, CharlotteIG said:

You may find this piece better as DailyFX are working off daily but use the whole week as well. 

Gold Price: Signals to Break the Deadlock - XAU/USD Forecast

 

That's a far better analysis than many of the daily ones we get on IG ...

[CharlotteIG]

16 minutes ago, dmedin said:

 

That's a far better analysis than many of the daily ones we get on IG ...

If you want I can speak with the analysts at IG about doing a mix of longer and shorter time periods for TA rather than just dailies. 

 

[Mercury]

Thanks for the post @love4ever4nature, just to clarify, are you saying Gold will turn back bearish when you say bounce back?  If so can you elaborate on your reasoning and have you any view what happens after that? 

[Mercury]

PS: any reason you put this post in FX and not commodities?  Do you view Gold as more of a currency than a commodity?

[CharlotteIG]

Gold update from DailyFX you may find interesting! Click here for the full article.

[dmedin]

On 22/11/2019 at 13:52, CharlotteIG said:

If you want I can speak with the analysts at IG about doing a mix of longer and shorter time periods for TA rather than just dailies. 

 

Hey, I was wondering why Josh was talking about shorting gold on that week's 'trade of the week' because he was saying at the start that he 'wouldn't necessarily sell at this price' (so why was short gold chosen as trade of the week in the first place then), and the fact that he changed his mind a day later.

I'd rather see the analysts take their time and do some good quality analysis.

[dmedin]

I don't see any compelling reason to go long or short on gold right now based on this chart but it's fascinating how it's not dropping further as the indices rise.  On the COT reports you can see that big speculators are still long on gold.

 

 

Edited November 28, 2019 by dmedin

[phillo]

no trend atm - needs a big catalyst   -

[Caseynotes]

14 hours ago, dmedin said:

I don't see any compelling reason to go long or short on gold right now based on this chart but it's fascinating how it's not dropping further as the indices rise.  On the COT reports you can see that big speculators are still long on gold.

yes, you can see on the long term chart the large specs have not abandoned their long positions, well not yet anyway.

[phillo]

On ‎28‎/‎11‎/‎2019 at 18:18, elle said:

no trend atm - needs a big catalyst   -

Well, I think there is a current catalyst. See if the previous supply zone holds, otherwise a run up to @  1666 imo

[dmedin]

Gold > 1600 within a week, come on ye beaut 🐴b🐮