SteadyFund

SteadyFund

Gold has been moving very slowly last week due to holidays. Nevertheless, we still see a red 2w candle and this is the confirmation of further downside pressure. Although overall trend is bullish, the correction in my opinion is not over. I expect price should continue to drop to at least 2482 level or even to 50% fib level at 2388. In short, I will engage...

SteadyFund

Due to holiday season, gold has limited volume. However, it still follows technical outlook. Currently, it is in bullish trend in 4hrly, 8 hrly, 12 hrly and daily. There will be an initial rise today. After that, if we see another 4 hrly red bar. This may be a sign of significant price drop.

SteadyFund

Gold is now stuck in a channel. I am expecting it to rise at least to 2630. From there, it could continue to rise towards 2650 or drop to 2600. We have to see the price action at that level.

SteadyFund

Since it's Christmas and Newyear holiday season, the market will be very thin and slow. I am expecting gold's price stuck in the channel as shown. I will buy from the channel bottom and targeting channel top at 2640.

SteadyFund

As predicted in weekly forecast, the trend is bearish for this week. However, 4hrly TF it's still in bullish momentum. I will look for selling opportunity from 2643 and targeting 2608 initially.

SteadyFund

Gold has closed the week with a red candle and below last week's low. This is signaling a continuation of downward trend. I will look for selling opportunities most of week as long as the highlighted yellow box support line not touched. However, next week is Christmas holiday. Volume may be low. There could be huge movement next Monday and little for the rest of...

SteadyFund

Instead of melting down further, gold retraced all the way to 2627 and closed with a green bar. However, I still think there is still room for bears. Price could go up to 2608 before another leg down. 1st target 2565. 2nd target 2542.

SteadyFund

Gold indeed melted down from 2650 level after FED. As stated yesterday, after 2620 was broken, the next level is 2550. If 2550 is broken, 2500 is the next target. I am looking for selling opportunity from 2600. Under such bearish environment, buying is strongly not advised.

SteadyFund

Gold has broken 2650 support in the past day. I will sell at the retest. 1st target 2620. If 2620 is broken, we could see 2550 soon.

SteadyFund

Gold didn't continue its downward trend but printed a bullish daily bar. This signals some level of correction is coming. In lower timeframe, it didn't break 2650 support. If this support holds, it can pump up to 2662 or even 2675. I am looking to sell from 2662 or 2675 depending on PA on these two levels.

SteadyFund

As explained in my weekly summary, I am going to mostly engage selling orders this week. For today, I am looking to sell from 2655, targeting 2627.

SteadyFund

Gold is very naughty in the past week. It broke 2650 resistance first and went up all the way to 2720. From 2720, it dropped almost non-stop below 2650 again. Eventually, we have a pin bar on 2W TF. This signals a strong move ahead. I am expecting a very heavy fall next week, maybe all the way to 2500 and below. I will engage mostly selling orders next week in...

SteadyFund

As mentioned yesterday, gold was facing 2720 strong resistance. Indeed, 4hrly double top was formed and it dropped hard. Price is now trading at 2680. I don't see a sign of reversal or correction. And also in my weekly review, I do believe gold is now bearish in medium term. I am expecting in Asian session, it drops to 2660 and accumulate there. Then further drop...

SteadyFund

Gold is facing a strong resistance here at 2721 right now. However, it is still strongly bullish. So i won't take any chance to short yet. Will buy from 2700 level and targeting first 2721. If 2721 gives away, we could see 2760.

SteadyFund

Gold indeed pumped towards 2700. Right now the price is just below 2700. If broken, we may see 2715 touched. However, if 4hr candle prints a red one, gold may retrace to 50% Fib level at 2678 and go up from there. Let's see what the market will provide us.

SteadyFund

Gold has indeed made a big move yesterday despite not according to my prediction. It broke 2655 resistance and tested 2675. Therefore, I am switching my strategy to buying dips. Will look for buying opportunity from 2655 support. Targeting 2712.

SteadyFund

As explained in my weekly forecast, I am expecting a big drop today. The early surge is purely due to global tension. I am looking for PA around the trend line retest which is should be 2650 area. First target is 2600, 2nd is 2560.

SteadyFund

Despite NFP events, gold was still trading in ranges (2620-2650) without any break out. My view on gold in weekly TF is still bearish. 2D and D is also bearish. I expect heavy drop is coming on Monday. But probably with an initial surge on Asia session first. Let's be patient and wait for clear signal to sell.