Good day. I will be posting free stuff for 30 days in this blog. Please leave a comment if you are interested in markets updates for Gold.

 As indicated yesterday USD 1855 acted as a good support during the Asian session, price then turned around to hit USD 1894 during the US session.

I did buy @1855 and close my position @1894 to then go short following the "sell on rallies strategy", however I left a tight stop order @1902.

There is no clear short term trend at the moment so that I will surely take profit in any sell-off below USD 1880 and go into a wait and see mode.

Should the price breaks 1855 to the downside the next levels of support are 1820 and 1793.

 Not surprisingly the price was rejected at the weekly Bollinger Band so as to begin the correction of the rally that took Gold from 1680 through 1914 in less than a month.

Intraday support comes @ USD 1855 and @ 1820, there is an additional support in the monthly chart @ USD 1790.

For now the market broke the uptrend and the scenario became a "sell on rallies strategy" unless it gets a daily close above USD 1900.

As I mentioned yesterday USD 1917 was the level of resistance in 2012 and in fact the price went up to USD 1916.97 just to be rejected, I expected the level to be broken but the truth being said the technical picture in the weekly chart did not look very good as the Bollinger Band was sitting @USD 1914. I managed to raise the SL to breakeven in my position so that no damage has been caused.

 Good morning/afternoon, how is everyone doing, it is been a while since I stopped sharing free content but I think it is about time to recap my last free post from September 2020.

Since September 2020 Gold has been going through a lengthy correction that took it down to a key moving average in the monthly chart just to come back to the same level it was 9 months ago, depicting a nice recovery which targets a higher high for this year that I forecast @USD 2300.

Last year around this time, in fact June 6th Gold began one of its best rallies recorded in the last 5 years, breaking above 1831 and shooting up to USD 2076 before initiating the correction phase down to USD 1676, it was a 20% correction (19.6% to be accurate) which did not bring the price to a bearish camp on the yearly chart.

It should also be noted that USD 1917 was the high in 2012 and the price currently stands @US 1902.

If you are brave enough you should be buying Gold at current levels with a SL @USD 1880 looking for a yearly higher high by August 2021.

I´m again bullish as I can be and you should be too.

 Good morning. Gold has broken out of the range but it is having a hard time going through 1950 so I´m closing my long position from yesterday and I will wait until tomorrow after the release of the US CPI. 

 Good morning. Gold price continues on a sideways action, Yesterday I bought @1909 and close @1940 and as expected it went down to USD 1921 as of 7:00 and EDT.

My plan is to get another shot of buying between 1900 and 1910 having the TP open but ready to close the position if 1941 is not broken by the end of the day.

 Quick update: Buy @1902 SL @1899 TP open (spot Prices)