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GOLD - Where will gold go in the near future

GOLD (US$/OZ) TVC:GOLD

HL-TradingFX

World gold price listed on Kitco is at 1,913 USD/ounce, up 2 USD/ounce compared to early morning. Gold futures last traded at $1,920 an ounce.

The gold market is in a neutral state and could remain until the end of the summer as US economic data continues to support the Fed's trend of tightening monetary policy.

Short-term weakness can be seen as a buying opportunity as the market waits for a fresh spark to trigger a broader rally.

While the gold market has been fairly steady, with December gold futures holding support around $1,950 an ounce, the precious metal still faces a challenging environment, especially as bond yields are short. term continues at around 5%.

The gold market is seeing its second sharpest week of decline. December gold price was last traded at $1,946.50 an ounce, down 1.5% from last Friday.

Originally posted here: https://ift.tt/7SjZI3O

Energy commodities Crude Oi, Natural Gas, Thermal Coal on... - ThinkMarkets

Energy commodities Crude Oi, Natural Gas, Thermal Coal on...  ThinkMarkets

source https://news.google.com/rss/articles/CBMicmh0dHBzOi8vd3d3LnRoaW5rbWFya2V0cy5jb20vZW4vbWFya2V0LW5ld3MvYXVndXN0LTUvZW5lcmd5LWNvbW1vZGl0aWVzLWNydWRlLW9pLW5hdHVyYWwtZ2FzLXRoZXJtYWwtY29hbC1vbi1tb3ZlL9IBAA?oc=5

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GOLD → Counter-trend correction before further decline

Gold OANDA:XAUUSD

RLinda

XAUUSD is testing a key liquidity area after breaking triangle support. The price updates the global lows and confirms the presence of an ongoing bearish trend

The price fails to reach the support at 1912.7 and forms a rebound. Most likely the target of 1912.7 is still valid, but before the support is retested the market needs more liquidity and for this purpose a correction is formed to retest the previously broken level. The price is heading towards the triangle pattern. The line of 1922.5 can be tested, or the price can go a little further, for example to 1927.5 or to 1932. It is impossible to talk about global growth now, the price is in a strong falling movement and continues to update the lows. We are looking for strong resistance areas to sell.

Resistance levels: MA-50, 1922.5, 1927.5.
Support levels: 1915,5, 1912.7
I expect the decline to continue after the retest of these resistance levels. Bearish trend reigns on the market. Take it into account in your trading.

Regards R. Linda!
Originally posted here: https://ift.tt/oa4Nycm

Murrey math lines: USD/CHF, XAU/USD - FXStreet

Murrey math lines: USD/CHF, XAU/USD  FXStreet

source https://news.google.com/rss/articles/CBMiUGh0dHBzOi8vd3d3LmZ4c3RyZWV0LmNvbS9hbmFseXNpcy9tdXJyZXktbWF0aC1saW5lcy11c2QtY2hmLXhhdS11c2QtMjAyMzA4MTAwNzA30gFUaHR0cHM6Ly93d3cuZnhzdHJlZXQuY29tL2FtcC9hbmFseXNpcy9tdXJyZXktbWF0aC1saW5lcy11c2QtY2hmLXhhdS11c2QtMjAyMzA4MTAwNzA3?oc=5