π¨ Daily GOLD Forecast – 9.5.2024
Another indicator suggesting a rise in XAU/USD quotes would be the examination of the support line on the relative strength index (RSI). Additionally, a breakout from the upper boundary of the "Wedge" reversal pattern would serve as the secondary signal. Should the option to increase Gold prices on May 8, 2024, be rescinded, we anticipate a decline in prices, marked by breaching the 2235 level. This occurrence would signify a breakdown of the support area, precipitating a sustained decline in asset quotes, potentially falling below the 2175 threshold. Brace for an uptick in the growth of XAU/USD quotes upon breaching the resistance area and achieving closing prices above the 2355 mark.
π¨ Daily GOLD Forecast – 8.5.2024
An additional indication favoring an upturn in XAU/USD quotes would manifest through a trial of the support line on the relative strength index (RSI). Additionally, a breakout from the upper boundary of the "Wedge" reversal pattern would serve as the secondary signal. Should the option to hike Gold prices on May 8, 2024 be revoked, we anticipate a decline in prices, marked by breaching the 2235 level. Such a scenario would signal a breakdown of the support area, triggering a sustained descent in asset quotes, possibly dipping below the 2175 mark. Brace for an acceleration in the ascent of XAU/USD quotes upon breaching the resistance area and achieving closing prices above the 2355 threshold.
It is envisaged that there will be an endeavor to initiate a price correction and test the support area around the 2305 level. Furthermore, expect continued uptrends in non-ferrous metal quotations, targeting levels above 2465. The cancellation of plans to raise Gold prices would result in a decline in asset value across markets, coupled with a breach of the 2235 level. Such a scenario would indicate an ongoing decline in Gold prices, potentially setting sights below the 2175 level.
π¨ Daily GOLD Forecast – 7.5.2024 (Update)
Technical analysis of XAU/USD (Gold Market) on the 1-hour chart suggests a mixed outlook. While oscillators and moving averages indicate a bearish trend, pivot points and the gold forecast lean towards bullish sentiment. Traders should exercise caution, considering potential scenarios for both market decline and growth. There's approximately a 40% chance of a market decline and a 60% chance of market growth based on the analysis.
π¨ Daily GOLD Forecast – 7.5.2024
An additional indication suggesting a rise in XAU/USD rates would be a trial of the support line on the relative strength index (RSI). Following that, a breakout from the lower boundary of the "Wedge" reversal pattern would serve as the second signal. If the option to raise GOLD prices on May 7, 2024 is nullified, we anticipate a downturn in prices, marked by breaching the 2235 level. Such an event would signify a breach of the support area, heralding a sustained decline in asset quotes, potentially reaching levels below 2185. Brace for an acceleration in the ascent of XAU/USD rates upon breaching the resistance area and achieving closing prices beyond the 2345 mark.
It's presumed that there will be an effort to initiate a price correction and probe the support area around the 2295 level. Subsequently, expect continued uptrends in non-ferrous metal quotations, targeting levels above 2405. The reversal of plans to increase GOLD prices would result in a decline in asset value across markets, accompanied by a breach of the 2235 level. Such a scenario would indicate an ongoing descent in Gold prices, potentially aiming for levels below 2185.
π¨ Daily GOLD Forecast – 30.4.2024
An additional indication suggesting a decline in XAU/USD rates would be a challenge to the resistance line on the relative strength index (RSI). Following that, a breakout from the upper boundary of the bearish channel would serve as the second signal. Should Gold's potential price reduction option be revoked on April 30, 2024, we anticipate a robust upsurge in prices, coupled with a breach of the 2395 level. Such an occurrence would signify a breakthrough in the resistance zone, paving the way for sustained asset appreciation above the 2445 mark. Conversely, brace for a hastened descent in XAU/USD rates upon breaching the support zone and concluding below the 2290 threshold, marking a breach of the lower boundary of the bullish correction channel.
π¨ Daily GOLD Forecast – 29.4.2024
Technical analysis of XAU/USD on the 1H chart indicates a bearish trend, supported by sell signals from oscillators and moving averages. However, pivot points suggest a buy sentiment, adding uncertainty. The gold forecast is neutral, reflecting market indecision. Traders should cautiously monitor key support and resistance levels for potential trading opportunities.
π¨ Weekly GOLD Forecast – (29.4.2024 – 3.5.2024)
When examining #GOLD for the trading week of April 29 to May 3, 2024, several indicators may suggest a potential increase in quotations and prices. Firstly, a rebound from the support line on the relative strength indicator (RSI) could serve as an initial signal, alongside a bounce from the lower border of the bullish channel. However, should prices dip below 2245 during this period, indicating a breakdown in support, it could lead to a continued decline in Gold prices with a target below 2085. Conversely, confirmation of an uptrend may occur if there's a breakout above the resistance area, with closing quotes surpassing 2425.
In the event of a decline, an attempt to test the support level around 2270 might be observed, followed by a potential upward movement in Gold prices targeting levels above 2645. A validation of this upward trend could be seen in a favorable trend line test on the relative strength index (RSI). However, if prices fall below 2245, it would cancel out the growth option for Gold, signaling a potential further decline below 2085.
π¨ Daily GOLD Forecast – 26.4.2024 (Signal 2)
When considering #GOLD, a potential downturn in quotes could manifest through a variety of signals. Firstly, a significant indication might be the testing of the resistance line on the relative strength index (RSI), coupled with a breakout from the upper border of the bearish channel. If, by April 26, 2024, prices surge beyond 2380, signaling a breakdown in resistance, it could lead to continued growth towards 2425. Conversely, expect an acceleration in the decline of XAU/USD quotes if the support area is breached, resulting in closing prices below 2280.
An initial step in this potential scenario might involve a price correction, with an attempt to test the resistance area around 2335. This could be followed by a sustained fall in non-ferrous metal quotations, potentially targeting levels below 2210. However, a notable surge in prices, surpassing 2380, would signify a cancellation of the option to reduce prices for Gold, indicating a potential continued rise towards 2425.
π¨ Daily GOLD Forecast – 26.4.2024
In the realm of #GOLD, additional signs pointing towards a potential decline in quotes may arise from testing the resistance line on the relative strength index (RSI) and witnessing a breakout from the upper border of the bearish channel. However, if prices surge beyond 2380 by April 26, 2024, indicating a breakdown in resistance, anticipate further growth towards 2425. Conversely, expect an acceleration in the decline of XAU/USD quotes upon breaking through the support area and achieving closing prices below 2280.
Anticipate an initial effort towards a price correction, testing the resistance area near 2335, followed by sustained declines in non-ferrous metal quotations targeting levels below 2210. However, if prices breach above 2380, it would nullify the bearish outlook, signaling a potential rise towards 2425.