Buying or selling gold: the key levels for a clear answer on how to operate with the precious metal are provided to us with extreme precision by the graphical and forecasting analysis. In this article, in fact, we do not try to explain why gold, but this applies to every financial instrument, it rises or falls, but the levels exceeded which the prices take a certain direction.
Only by knowing in advance the future direction of the prices, in fact, it is possible to earn on the financial markets. Chasing the news can only lead to losses.
Buying or selling gold: the key levels for a clear answer on how to operate with the precious metal according to the graphical and forecast analysis
Their (real time price) ended the session on August 21 up 0.03% from the previous session at $ 1,947.0.
As for the American indices, the week of trading marked a stalemate with prices which closed at the levels of 14 August. There is, therefore, a climate of uncertainty that has led to a roller coaster of the price of gold without, however, changing the price of a previous week by one iota.
In cases like these you have to be very careful as there could be explosions of volatility that could burn investors’ portfolios.
Technically last week’s forecast (The expected decline on gold has arrived and will continue next week) was corrected as there was a 0.14% drop in one week. In fact, the prices, at least in the short term, leaned on the support in the $ 1,942.82 area in anticipation of events.
This is precisely the level to be monitored at the end of the day. Its break, in fact, would open the door to a drop to the $ 1,809.65 area (1st price target). In the event of holding, however, it could start up again at any moment. The maximum extent of this possible downside lies in the $ 1,379.41 area.
GOLD: ongoing bearish projection on the daily time frame. The blue line represents the Running Bisector levels; the red line the levels of The New Law of Vibration.
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Medium / long term scenario
The signal that the prices have given on the weekly is very worrying. As can be seen from the graph, in fact, the prices confirmed the breakdown of the strong support in the $ 2,015.85 area. At the moment, therefore, the quotes are caged within the trading range $ 1,893.16 – $ 2,015.85. Only the break at the end of the week of one of these two levels could give direction to the prices,
GOLD: bullish projection underway on the weekly time frame. The blue line represents the Running Bisector levels; the red line the levels of The New Law of Vibration.
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On the monthly basis, monitor the monthly close of the $ 1,872 area. As long as this support holds, the scenario that sees gold reach targets in the $ 2,600 area remains in place. Otherwise, the prices would accelerate to the downside.
For the close of August, therefore, monitor the $ 1,872.58 and $ 2,009.87 levels carefully.
GOLD: bullish projection underway on the monthly time frame. The blue line represents the Running Bisector levels; the red line the levels of The New Law of Vibration
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