GOLD - USD

- USD (-)

- Real time data - Gold & Silver Spot

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Type:	Commodities
Ticker:	XAUUSD
ISIN:

GOLD - USD - 1H - Technical analysis published on 05/23/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

33%

39%

28%

My opinion

Bearish under 2,374.45 USD

My targets

2,351.89 USD (-0.65%)

2,332.24 USD (-1.48%)

My analysis

GOLD - USD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 2,374.45 USD. The next support located at 2,351.89 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 2,332.24 USD. Below this support, sellers could then target 2,183.68 USD. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.

In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.

Force

6.3

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Kika. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

GOLD - USD rating 2,367.16 USD. On the day, this instrument lost -0.64% and was between 2,355.04 USD and 2,383.80 USD. This implies that the price is at +0.51% from its lowest and at -0.70% from its highest.

2,355.04

2,383.80

2,367.16

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:

The study of the highest / lowest by the Central Records scanner shows the following results:

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 LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of GOLD - USD in 1H shows a overall strongly bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:

Bullish price crossover with adaptative moving average 20

Type : Bullish

Timeframe : 1 hour

In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 6 are bullish, 5 are neutral and 7 are bearish. The Central Indicators scanner found this result concerning these indicators:

Price is back under the pivot point

Type : Bearish

Timeframe : Weekly

The analysis of the price chart with Central Patterns scanners does not return any result.

The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:

Bullish harami

Type : Bullish

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	2,183.68	2,332.24	2,351.89	2,367.16	2,374.45	2,390.13	2,406.65
Change (%)	-7.75%	-1.48%	-0.65%	-	+0.31%	+0.97%	+1.67%
Change	-183.48	-34.92	-15.27	-	+7.29	+22.97	+39.49
Level	Minor	Intermediate	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	2,310.97	2,342.97	2,362.62	2,394.62	2,414.27	2,446.27	2,465.92
Camarilla	2,368.08	2,372.81	2,377.55	2,382.28	2,387.02	2,391.75	2,396.48
Woodie	2,304.81	2,339.88	2,356.46	2,391.53	2,408.11	2,443.18	2,459.76
Fibonacci	2,342.97	2,362.70	2,374.89	2,394.62	2,414.35	2,426.54	2,446.27

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2,267.63	2,299.93	2,358.18	2,390.48	2,448.73	2,481.03	2,539.28
Camarilla	2,391.52	2,399.82	2,408.12	2,416.42	2,424.72	2,433.02	2,441.32
Woodie	2,280.60	2,306.42	2,371.15	2,396.97	2,461.70	2,487.52	2,552.25
Fibonacci	2,299.93	2,334.52	2,355.89	2,390.48	2,425.07	2,446.44	2,481.03

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1,999.72	2,114.12	2,202.75	2,317.15	2,405.78	2,520.18	2,608.81
Camarilla	2,235.55	2,254.16	2,272.77	2,291.38	2,309.99	2,328.60	2,347.21
Woodie	1,986.84	2,107.68	2,189.87	2,310.71	2,392.90	2,513.74	2,595.93
Fibonacci	2,114.12	2,191.68	2,239.59	2,317.15	2,394.71	2,442.62	2,520.18

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):	33.93
MACD (12,26,9):	-9.9100
Directional Movement:	-22.46
AROON (14):	-42.86
DEMA (21):	2,359.26
Parabolic SAR (0,02-0,02-0,2):	2,372.41
Elder Ray (13):	-4.40
Super Trend (3,10):	2,381.99
Zig ZAG (10):	2,366.09
VORTEX (21):	0.8000
Stochastique (14,3,5):	34.31
TEMA (21):	2,358.23
Williams %R (14):	-60.71
Chande Momentum Oscillator (20):	-5.74
Repulse (5,40,3):	0.2000
ROCnROLL:	2
TRIX (15,9):	-0.0700
Courbe Coppock:	1.24

MA7:	2,397.53
MA20:	2,351.16
MA50:	2,307.76
MA100:	2,178.74
MAexp7:	2,365.57
MAexp20:	2,372.60
MAexp50:	2,388.94
MAexp100:	2,395.02
Price / MA7:	-1.27%
Price / MA20:	+0.68%
Price / MA50:	+2.57%
Price / MA100:	+8.65%
Price / MAexp7:	+0.07%
Price / MAexp20:	-0.23%
Price / MAexp50:	-0.91%
Price / MAexp100:	-1.16%

Quotes : - Real time data - Gold & Silver Spot

News

The latest news and videos published on GOLD - USD at the time of the analysis were as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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