GOLD - USD - Daily - Technical analysis published on 04/11/2024 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
78%
0%
22%
My opinion
Bullish above 2,300.38 USD
My targets
2,367.07 USD (+1.23%)
2,497.73 USD (+6.82%)
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 2,300.38 USD. The next resistance located at 2,367.07 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 2,497.73 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 confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.6
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Additional analysis
Quotes
The GOLD - USD price is 2,338.30 USD. The price registered an increase of +0.12% on the session with the lowest point at 2,333.33 USD and the highest point at 2,346.96 USD. The deviation from the price is +0.21% for the low point and -0.37% for the high point.2,333.33
2,346.96
2,338.30
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by GOLD - USD:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
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 Daily of this GOLD - USD chart shows a strongly bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, according to the parameters integrated into the Central Analyzer system, 14 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : Daily
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
The analysis of the price chart with Central Patterns scanners does not return any result.
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:
Bullish harami
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
Price
S3 | S2 | S1 | Price | |
---|---|---|---|---|
ProTrendLines | 2,049.28 | 2,079.55 | 2,203.99 | 2,338.30 |
Change (%) | -12.36% | -11.07% | -5.74% | - |
Change | -289.02 | -258.75 | -134.31 | - |
Level | Major | Minor | Intermediate | - |
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 | 2,275.92 | 2,297.67 | 2,316.63 | 2,338.38 | 2,357.34 | 2,379.09 | 2,398.05 |
Camarilla | 2,324.41 | 2,328.14 | 2,331.87 | 2,335.60 | 2,339.33 | 2,343.06 | 2,346.80 |
Woodie | 2,274.54 | 2,296.97 | 2,315.25 | 2,337.68 | 2,355.96 | 2,378.39 | 2,396.67 |
Fibonacci | 2,297.67 | 2,313.22 | 2,322.83 | 2,338.38 | 2,353.93 | 2,363.54 | 2,379.09 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 2,156.81 | 2,192.67 | 2,258.76 | 2,294.62 | 2,360.71 | 2,396.57 | 2,462.66 |
Camarilla | 2,296.82 | 2,306.17 | 2,315.52 | 2,324.86 | 2,334.21 | 2,343.55 | 2,352.90 |
Woodie | 2,171.94 | 2,200.23 | 2,273.89 | 2,302.18 | 2,375.84 | 2,404.13 | 2,477.79 |
Fibonacci | 2,192.67 | 2,231.61 | 2,255.67 | 2,294.62 | 2,333.56 | 2,357.62 | 2,396.57 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 1,905.68 | 1,972.37 | 2,103.03 | 2,169.72 | 2,300.38 | 2,367.07 | 2,497.73 |
Camarilla | 2,179.41 | 2,197.50 | 2,215.59 | 2,233.68 | 2,251.77 | 2,269.86 | 2,287.95 |
Woodie | 1,937.66 | 1,988.36 | 2,135.01 | 2,185.71 | 2,332.36 | 2,383.06 | 2,529.71 |
Fibonacci | 1,972.37 | 2,047.76 | 2,094.34 | 2,169.72 | 2,245.11 | 2,291.69 | 2,367.07 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
RSI (14): | 76.00 | |
MACD (12,26,9): | 60.7100 | |
Directional Movement: | 29.08 | |
AROON (14): | 78.57 | |
DEMA (21): | 2,330.30 | |
Parabolic SAR (0,02-0,02-0,2): | 2,302.95 | |
Elder Ray (13): | 54.42 | |
Super Trend (3,10): | 2,243.67 | |
Zig ZAG (10): | 2,336.62 | |
VORTEX (21): | 1.2500 | |
Stochastique (14,3,5): | 89.02 | |
TEMA (21): | 2,354.36 | |
Williams %R (14): | -13.89 | |
Chande Momentum Oscillator (20): | 164.29 | |
Repulse (5,40,3): | 0.6100 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.3600 | |
Courbe Coppock: | 13.74 |
MA7: | 2,325.49 | |
MA20: | 2,238.66 | |
MA50: | 2,132.81 | |
MA100: | 2,082.10 | |
MAexp7: | 2,319.00 | |
MAexp20: | 2,253.12 | |
MAexp50: | 2,167.92 | |
MAexp100: | 2,102.51 | |
Price / MA7: | +0.55% | |
Price / MA20: | +4.45% | |
Price / MA50: | +9.63% | |
Price / MA100: | +12.30% | |
Price / MAexp7: | +0.83% | |
Price / MAexp20: | +3.78% | |
Price / MAexp50: | +7.86% | |
Price / MAexp100: | +11.21% |
Quotes :
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Real time data
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Gold & Silver Spot
News
The latest news and videos published on GOLD - USD at the time of the analysis were as follows:
- Gold Daily Forecast and Technical Analysis for April 10, 2024 by Bruce Powers, CMT, FX Empire
- Gold Forecast April 11, 2024
- Gold Daily Forecast and Technical Analysis for April 10, by Chris Lewis, #XAUUSD, #FXEmpire #gold
- Gold prices climb on Chinese buying but is there more to come?
- Gold Daily Forecast and Technical Analysis for April 10, 2024, by Chris Lewis for FX Empire
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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