The Daily View for Gold
- At the time of this writing, XAUUSD’s price is down $-3.87 (-0.21%) from the day prior.
- This is a reversal of the price action on the previous day, in which price moved up.
- As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
- The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
Below is a daily price chart of Gold.
Featured Gold Idea From TradingView
Below is a trading comment entitled Gold you may find interesting:
Need to watch the breaking of Support or Resistance, Gold is quite the momentum asset when it breaks through.Thie recent big move to the left back up, was to fill the imbalance due to a 3- 4 billion dollar margin call, (apparently) last Monday morning, (Even the big boys get it wrong) triggered by a better than expected Jobless Claims on Friday pushing the Dollar up and Gold down.So Jobless numbers again on Friday, could go either way, the consensus is mixed, also there is the Jackson Hole Symposium which draws 140 central bankers, from more than 40 countries with speeches that can signal important shifts in monetary policy, closely monitored by the big boys, Fed Chairman Powell the key man, important meeting.COTS report says Comercial traders have been increasing Longs, for a few weeks bit by bit, so pointing higher.Sentiment Shorts have increased from 45% short at the start of the week to 56% signaling Gold is going higher also, Shorts will just increase as Gold goes higher (if it does) everyone thinking “it can’t go any higher surely” silly old Short Sellers Stops supply the B…