Gold Tests a Major Resistance as Sell-Off Risk Builds — Watch This Week’s Close

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Overview News Community Forward curve Seasonals Contracts More Discover detailed market analysis from traders. See how others approach this instrument, compare different strategies, and discover perspectives that can shape your own view. GOLD: Bullish Going Into This Week. But Is It A Buy? In this Weekly Market Forecast, we will analyze Gold for the week of Aug 10-14th. Gold enters the week with a bullish bias after a strong rally pushed prices near $4,400/oz, though the potential for high volatility looms. As bullish as it may have ended last week, it closed in a potentially resistant area. Leave any questions or comments in the comment section. I appreciate any feedback from my viewers! I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise. This is the Micro Gold Futures - MGC1! 4-Hour chart on COMEX. This is the Micro Gold Futures - MGC1! 4-Hour chart on COMEX. 1. Accumulation Done: Price was ranging in the "SUPPORT" zone around $3940 - $3960 for a while. Multiple tests and held. 2. Breakout + Channel: Then we got a strong bullish move up inside a red ascending channel. Clean structure. 3. At Resistance Now: Price hit "RESISTANCE" near the top of the channel and pulled back a bit. 4. Targets Marked: 3 "TARGET ZONES" drawn for a pullback/continuation play: - Resistance: Channel top ∼$4380 - $4400. Break above this and next leg starts - Support Zones: Those 3 green boxes. If price pulls back, these are buy areas - Major Support: $3940 - $3960 - The big yellow zone. Lose this and bias flips bearish Bias: Bullish while holding above $4240. The plan looks like: Buy the dip into Target Zones, ride back up to new highs. A 4H close below $4240 likely means a deeper correction to $3960 support. Educational only. Not financial advice. Gold is news driven - watch DXY and yields gold future with preferred angles Hi!, trying to look into the future (2050) , not so easy but if chart shows the physics, very much possible , plotted levels needs the consideration. u can see the preferred angles here followed by the gold future for rising and for correction , gold followed the sharper rising angle for last many years. lets c , will post the chart in lower time frame in below slides GOLD: A Superposition at $4,400 — Which State Collapses First? My own system is printing Sell on the weekly and Strong Buy on the monthly at the same time. Same indicator, same data, opposite conclusions. Below are all three timeframes exactly as my panel printed them, with what each one is actually saying. Every probability stays open. I am not predicting. I am showing the frame I hold ONE RULE ABOVE EVERYTHING: THE MARKET IS ALWAYS RIGHT The market is not an opinion I get to argue with. It is the measurement. When price closes, that is the observation, and the observation is never wrong. Only my model can be wrong. Every rule below exists to make my model cheap to update and Three things follow from that, and they are the only advice I would give anyone: 1. Write the invalidation before the entry. If you cannot name the exact close that would prove you wrong, you do not have a thesis, you have a hope. Write it down before you risk anything, because once the position is on, your memory becomes your 2. Never argue with a close - only with your own model. Losing money is expensive. Defending a broken idea is far more expensive, because it also costs you the next ten trades. When price disagrees with you, updating is the cheap option. Take it 3. Size it so that being wrong is survivable and boring. A position that makes you c