GOLD - USD - 1H - Technical analysis published on 12/02/2021 (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
11%
78%
11%
My opinion
Bearish under 1,778.82 USD
My targets
1,762.45 USD (-0.46%)
1,727.91 USD (-2.41%)
My analysis
The bearish trend is currently very strong for GOLD - USD. As long as the price remains below the resistance at 1,778.82 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 1,762.45 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1,727.91 USD as an objective. Crossing it would then enable sellers to target 1,684.74 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
8.2
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This analysis was given by skyallex. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The GOLD - USD rating is 1,770.59 USD. The price registered a decrease of -0.63% on the session and was traded between 1,763.48 USD and 1,782.21 USD over the period. The price is currently at +0.40% from its lowest and -0.65% from its highest.1,763.48
1,782.21
1,770.59
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 (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of GOLD - USD indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
Technical indicators are strongly bearish, suggesting that the price decline is expected to continue.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Long black line
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 1,727.91 | 1,762.45 | 1,769.89 | 1,770.59 | 1,778.82 | 1,794.25 | 1,815.60 |
Change (%) | -2.41% | -0.46% | -0.04% | - | +0.46% | +1.34% | +2.54% |
Change | -42.68 | -8.14 | -0.70 | - | +8.23 | +23.66 | +45.01 |
Level | Intermediate | Minor | Minor | - | Intermediate | Intermediate | Intermediate |
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 | 1,749.41 | 1,761.02 | 1,771.44 | 1,783.05 | 1,793.47 | 1,805.08 | 1,815.50 |
Camarilla | 1,775.80 | 1,777.82 | 1,779.84 | 1,781.86 | 1,783.88 | 1,785.90 | 1,787.92 |
Woodie | 1,748.82 | 1,760.72 | 1,770.85 | 1,782.75 | 1,792.88 | 1,804.78 | 1,814.91 |
Fibonacci | 1,761.02 | 1,769.44 | 1,774.64 | 1,783.05 | 1,791.47 | 1,796.67 | 1,805.08 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1,693.76 | 1,736.19 | 1,764.30 | 1,806.73 | 1,834.84 | 1,877.27 | 1,905.38 |
Camarilla | 1,773.01 | 1,779.48 | 1,785.94 | 1,792.41 | 1,798.88 | 1,805.34 | 1,811.81 |
Woodie | 1,686.60 | 1,732.61 | 1,757.14 | 1,803.15 | 1,827.68 | 1,873.69 | 1,898.22 |
Fibonacci | 1,736.19 | 1,763.14 | 1,779.78 | 1,806.73 | 1,833.68 | 1,850.32 | 1,877.27 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1,610.78 | 1,684.84 | 1,729.06 | 1,803.12 | 1,847.34 | 1,921.40 | 1,965.62 |
Camarilla | 1,740.76 | 1,751.61 | 1,762.45 | 1,773.29 | 1,784.13 | 1,794.98 | 1,805.82 |
Woodie | 1,595.87 | 1,677.38 | 1,714.15 | 1,795.66 | 1,832.43 | 1,913.94 | 1,950.71 |
Fibonacci | 1,684.84 | 1,730.02 | 1,757.93 | 1,803.12 | 1,848.30 | 1,876.21 | 1,921.40 |
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): | 38.13 | |
MACD (12,26,9): | -3.0600 | |
Directional Movement: | -18.06 | |
AROON (14): | -92.86 | |
DEMA (21): | 1,772.57 | |
Parabolic SAR (0,02-0,02-0,2): | 1,780.39 | |
Elder Ray (13): | -7.25 | |
Super Trend (3,10): | 1,784.09 | |
Zig ZAG (10): | 1,770.20 | |
VORTEX (21): | 0.8200 | |
Stochastique (14,3,5): | 30.13 | |
TEMA (21): | 1,771.07 | |
Williams %R (14): | -65.55 | |
Chande Momentum Oscillator (20): | -9.14 | |
Repulse (5,40,3): | -0.2100 | |
ROCnROLL: | 2 | |
TRIX (15,9): | -0.0200 | |
Courbe Coppock: | 0.85 |
MA7: | 1,784.06 | |
MA20: | 1,820.90 | |
MA50: | 1,791.83 | |
MA100: | 1,791.89 | |
MAexp7: | 1,772.76 | |
MAexp20: | 1,776.08 | |
MAexp50: | 1,780.33 | |
MAexp100: | 1,785.86 | |
Price / MA7: | -0.76% | |
Price / MA20: | -2.76% | |
Price / MA50: | -1.19% | |
Price / MA100: | -1.19% | |
Price / MAexp7: | -0.12% | |
Price / MAexp20: | -0.31% | |
Price / MAexp50: | -0.55% | |
Price / MAexp100: | -0.86% |
Quotes :
-
Real time data
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Gold & Silver Spot
News
The last news published on GOLD - USD at the time of the generation of this analysis was as follows:
- Gold and AUD/USD Forecast December 2, 2021
- Gold Technical Analysis for December 02, 2021 by FXEmpire
- Finding Price Action Levels with Fibonacci: USD, EUR/USD, Gold and Oil
- Gold faltering as an inflation hedge?
- Gold and Silver Forecast December 1, 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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