GOLD - USD - 1H - Technical analysis published on 06/16/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
67%
17%
My opinion
Bearish under 1,844.71 USD
My targets
1,778.85 USD (-1.98%)
1,748.55 USD (-3.65%)
My analysis
The bearish trend is currently very strong for GOLD - USD. As long as the price remains below the resistance at 1,844.71 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 1,778.85 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1,748.55 USD as an objective. Crossing it would then enable sellers to target 1,683.99 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
7.7
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This analysis was given by mmoussawi. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GOLD - USD rating is 1,814.72 USD. The price is lower by -2.33% since the last closing with the lowest point at 1,803.50 USD and the highest point at 1,863.50 USD. The deviation from the price is +0.62% for the low point and -2.62% for the high point.1,803.50
1,863.50
1,814.72
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
Here is a more detailed summary of the historical variations registered by GOLD - USD:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in 1H of this GOLD - USD chart shows a sharp bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators shows a bearish signal.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
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 | 1,683.99 | 1,748.55 | 1,778.85 | 1,814.72 | 1,844.71 | 1,851.64 | 1,858.69 |
Change (%) | -7.20% | -3.65% | -1.98% | - | +1.65% | +2.03% | +2.42% |
Change | -130.73 | -66.17 | -35.87 | - | +29.99 | +36.92 | +43.97 |
Level | Major | Minor | Intermediate | - | Minor | Intermediate | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1,832.43 | 1,842.04 | 1,849.99 | 1,859.60 | 1,867.55 | 1,877.16 | 1,885.11 |
Camarilla | 1,853.12 | 1,854.73 | 1,856.34 | 1,857.95 | 1,859.56 | 1,861.17 | 1,862.78 |
Woodie | 1,831.61 | 1,841.63 | 1,849.17 | 1,859.19 | 1,866.73 | 1,876.75 | 1,884.29 |
Fibonacci | 1,842.04 | 1,848.75 | 1,852.89 | 1,859.60 | 1,866.31 | 1,870.45 | 1,877.16 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1,829.95 | 1,849.93 | 1,863.80 | 1,883.78 | 1,897.65 | 1,917.63 | 1,931.50 |
Camarilla | 1,868.35 | 1,871.45 | 1,874.56 | 1,877.66 | 1,880.76 | 1,883.87 | 1,886.97 |
Woodie | 1,826.89 | 1,848.40 | 1,860.74 | 1,882.25 | 1,894.59 | 1,916.10 | 1,928.44 |
Fibonacci | 1,849.93 | 1,862.86 | 1,870.85 | 1,883.78 | 1,896.71 | 1,904.70 | 1,917.63 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1,665.26 | 1,715.68 | 1,811.91 | 1,862.33 | 1,958.56 | 2,008.98 | 2,105.21 |
Camarilla | 1,867.80 | 1,881.24 | 1,894.69 | 1,908.13 | 1,921.57 | 1,935.02 | 1,948.46 |
Woodie | 1,688.16 | 1,727.13 | 1,834.81 | 1,873.78 | 1,981.46 | 2,020.43 | 2,128.11 |
Fibonacci | 1,715.68 | 1,771.70 | 1,806.31 | 1,862.33 | 1,918.35 | 1,952.96 | 2,008.98 |
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): | 21.52 | |
MACD (12,26,9): | -10.5200 | |
Directional Movement: | -37.15 | |
AROON (14): | -21.42 | |
DEMA (21): | 1,831.39 | |
Parabolic SAR (0,02-0,02-0,2): | 1,855.42 | |
Elder Ray (13): | -24.99 | |
Super Trend (3,10): | 1,836.27 | |
Zig ZAG (10): | 1,812.90 | |
VORTEX (21): | 0.6900 | |
Stochastique (14,3,5): | 14.59 | |
TEMA (21): | 1,823.74 | |
Williams %R (14): | -83.10 | |
Chande Momentum Oscillator (20): | -41.16 | |
Repulse (5,40,3): | -0.7500 | |
ROCnROLL: | 2 | |
TRIX (15,9): | -0.0400 | |
Courbe Coppock: | 3.09 |
MA7: | 1,871.09 | |
MA20: | 1,885.05 | |
MA50: | 1,830.19 | |
MA100: | 1,797.47 | |
MAexp7: | 1,827.23 | |
MAexp20: | 1,843.31 | |
MAexp50: | 1,854.24 | |
MAexp100: | 1,863.63 | |
Price / MA7: | -3.01% | |
Price / MA20: | -3.73% | |
Price / MA50: | -0.85% | |
Price / MA100: | +0.96% | |
Price / MAexp7: | -0.68% | |
Price / MAexp20: | -1.55% | |
Price / MAexp50: | -2.13% | |
Price / MAexp100: | -2.62% |
Quotes :
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Real time data
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Gold & Silver Spot
News
Don't forget to follow the news on GOLD - USD. At the time of publication of this analysis, the latest news was as follows:
- Gold Forecast June 17, 2021
- “Buzz on the Street” Show: Clarity Gold (OTC: CLGCF) (CSE: CLAR) Diamond Drill Program Results
- Gold Technical Analysis for June 17, 2021 by FXEmpire
- Illegal gold mining in Mozambique | Global Ideas
- Gold and AUD/USD Forecast June 16, 2021
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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…
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