GOLD - USD - Weekly - Technical analysis published on 01/24/2024 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
44%
22%
33%
My opinion
Bullish above 1,908.31 USD
My targets
2,060.39 USD (+2.36%)
2,147.72 USD (+6.70%)
My analysis
GOLD - USD is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 1,908.31 USD. The next resistance located at 2,060.39 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 2,147.72 USD. After this resistance, buyers could then target 2,233.25 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
Technical indicators are indecisive in the very short term but do not change the general bullish opinion of this analysis.
Force
0
10
6.8
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Additional analysis
Quotes
The GOLD - USD rating is 2,012.82 USD. The price is up +0.16% over 5 days and has been traded over the last 5 days between 2,011.21 USD and 2,037.94 USD. This implies that the 5 day price is +0.08% from its lowest point and -1.23% from its highest point.2,011.21
2,037.94
2,012.82
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by GOLD - USD:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Weekly of this GOLD - USD chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, of the 18 technical indicators analysed by Central Analyzer, 8 are bullish, 6 are neutral and 4 are bearish. Central Indicators, the detector scanner for these technical indicators recently detected a signal:
Williams %R indicator is back under -50
Type : Bearish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
Price
S3 | S2 | S1 | Price | R1 | |
---|---|---|---|---|---|
ProTrendLines | 1,684.77 | 1,821.36 | 1,908.31 | 2,012.82 | 2,049.28 |
Change (%) | -16.30% | -9.51% | -5.19% | - | +1.81% |
Change | -328.05 | -191.46 | -104.51 | - | +36.46 |
Level | Intermediate | Major | Intermediate | - | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 2,001.70 | 2,010.65 | 2,020.04 | 2,028.99 | 2,038.38 | 2,047.33 | 2,056.72 |
Camarilla | 2,024.39 | 2,026.07 | 2,027.75 | 2,029.43 | 2,031.11 | 2,032.79 | 2,034.47 |
Woodie | 2,001.92 | 2,010.76 | 2,020.26 | 2,029.10 | 2,038.60 | 2,047.44 | 2,056.94 |
Fibonacci | 2,010.65 | 2,017.66 | 2,021.98 | 2,028.99 | 2,036.00 | 2,040.32 | 2,047.33 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1,944.31 | 1,973.10 | 2,001.12 | 2,029.91 | 2,057.93 | 2,086.72 | 2,114.74 |
Camarilla | 2,013.52 | 2,018.73 | 2,023.93 | 2,029.14 | 2,034.35 | 2,039.56 | 2,044.76 |
Woodie | 1,943.93 | 1,972.91 | 2,000.74 | 2,029.72 | 2,057.55 | 2,086.53 | 2,114.36 |
Fibonacci | 1,973.10 | 1,994.80 | 2,008.21 | 2,029.91 | 2,051.61 | 2,065.02 | 2,086.72 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1,802.00 | 1,887.53 | 1,974.86 | 2,060.39 | 2,147.72 | 2,233.25 | 2,320.58 |
Camarilla | 2,014.65 | 2,030.50 | 2,046.35 | 2,062.19 | 2,078.04 | 2,093.88 | 2,109.73 |
Woodie | 1,802.90 | 1,887.98 | 1,975.76 | 2,060.84 | 2,148.62 | 2,233.70 | 2,321.48 |
Fibonacci | 1,887.53 | 1,953.56 | 1,994.36 | 2,060.39 | 2,126.42 | 2,167.22 | 2,233.25 |
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): | 53.60 | |
MACD (12,26,9): | 29.1500 | |
Directional Movement: | 10.04 | |
AROON (14): | 50.00 | |
DEMA (21): | 2,037.00 | |
Parabolic SAR (0,02-0,02-0,2): | 1,988.51 | |
Elder Ray (13): | 9.09 | |
Super Trend (3,10): | 1,878.32 | |
Zig ZAG (10): | 2,012.29 | |
VORTEX (21): | 1.0800 | |
Stochastique (14,3,5): | 52.47 | |
TEMA (21): | 2,046.91 | |
Williams %R (14): | -61.80 | |
Chande Momentum Oscillator (20): | 20.66 | |
Repulse (5,40,3): | -1.6300 | |
ROCnROLL: | -1 | |
TRIX (15,9): | 0.1900 | |
Courbe Coppock: | 11.33 |
MA7: | 2,021.99 | |
MA20: | 2,038.98 | |
MA50: | 2,025.74 | |
MA100: | 1,974.81 | |
MAexp7: | 2,028.69 | |
MAexp20: | 2,000.02 | |
MAexp50: | 1,953.11 | |
MAexp100: | 1,899.23 | |
Price / MA7: | -0.45% | |
Price / MA20: | -1.28% | |
Price / MA50: | -0.64% | |
Price / MA100: | +1.92% | |
Price / MAexp7: | -0.78% | |
Price / MAexp20: | +0.64% | |
Price / MAexp50: | +3.06% | |
Price / MAexp100: | +5.98% |
Quotes :
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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:
- Special Report: 24/01/2024 - Can rate cuts and geopolitics propel gold to fresh record highs?
- Gold Technical Analysis for January 25, 2024 by Chris Lewis for FX Empire
- Gold Forecast Video for 24.01.24 by Bruce Powers for FX Empire
- Gold Technical Analysis for January 24, 2024 by Chris Lewis for FX Empire
- Gold Forecast January 23, 2024
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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