Gold Closed Yesterday Down -0.33%

The Hourly View for Gold

  • At the moment, XAUUSD’s price is up $2.15 (0.11%) from the hour prior.
  • The hourly chart shows that Gold has seen 3 straight up hours.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
  • Most noteworthy in the world of moving averages on the hourly chart is that the 20 and 200 hour moving averages have been crossed, with price now being above them. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Gold’s hourly price chart is shown below.

XAUUSD

The Daily View for Gold

  • At the moment, XAUUSD’s price is down $-6.18 (-0.33%) from the day prior.
  • This move is a reversal from the day prior, which saw price move 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 choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of Gold.

XAUUSD

Featured Gold Idea From TradingView

Below is a trading comment entitled +++ gold short sniping idea +++ you may find interesting:

gold had touched 1903 ( a strong resistance) and a bearish harmonic pattern that is formed under it started to make gold reject these levels , as long gold doesn’t go above 1903 with clear green candles and whenever breaks under 1893, the price will keep fall and try to touch 1880/1870 levels.

Gol-DTrader