2022/02/22 07:36 AM – GOLD FUTURES – DOUBLE BOTTOM WATCH 1’919 !!

GOLD FUTURES-DOUBLE BOTTOM -WATCH 1919 by Ironman8848 on TradingView.com


WEEKLY (W1) 

Gold still under the influence of a potential  double bottom still in progress and very close to its trigger level @ 1’919. 

Lagging line far above the clouds. 

A BREAKOUT CONFIRMATION OF 1’919 WOULD OPEN THE DOOR FOR A TECHNICAL TARGET @ 2’161. 

Watch carefully price action around this important KEY  PIVOT LEVEL (breakouts are usually followed by a pullback !) 

A failure to successfully confirm this upside breakout would put the focus on the Tenkan-Sen (1’849) which should be seen as the first significant  support level to look at, ahead of the cluster of  MBB and  KS @ 1’819 (clouds support 1’828-1’777) 

DAILY (D1)

Ongoing upward price action.  

Watch the Tenkan-Sen @ 1’869 as the first support in this daily time frame ahead of the Kijun-Sen @ 1849 

RSI still converging to the upside and Lagging line far above the clouds too. 

4 HOURS (H4) 

Warning ! poteniial  BEARISH DIVERGENCE IN PROGRESS in this H4 time frame and growing uncertainty about intraday short term development (dojis !) 

Monitor and watch closely price action (intraday basis) 

1 HOUR (H1)

The yesterday’s intraday high @ 1’918 triggered a  SHOOTING STAR and looking at the following candles we can see small candles (lack of momentum and follow through) which may trigger some downside move which for the time being should be seen as a consolidation and corrective move only. 
Indeed, only a clear breakout of the hourly clouds support around 1’890 would be a more serious warning signal ! 

IRONMAN8848 & Jean-Pierre Burki 

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All views expressed on my analysis are my own and do not represent the opinions of any entity, whatsoever with which I have been, I am now or I will be affiliated with. Any action you take upon the information on those analysis is strictly at your own risk and should not be considered as an advisory. The author assumes no responsibility or liability for any errors or omissions in the content of his analysis. The information contained is provided on an «as is» basis, with no guarantees of completeness, accuracy, usefulness or timeliness and without any warranties of any kind whatsoever, express or implied. 

Toutes les opinions exprimées dans mes analyses sont les miennes et ne représentent pas les opinions d’une entité, quelle qu’elle soit, avec laquelle j’ai été, je suis ou je serai affilié. Toute action que vous entreprenez sur la base des informations contenues dans ces analyses est strictement à vos propres risques et ne doit pas être considérée comme un conseil. L’auteur n’assume aucune responsabilité pour toute erreur ou omission dans le contenu de ses analyses. Les informations contenues sont fournies “en l’état”, sans garantie d’exhaustivité, d’exactitude, d’utilité ou d’opportunité et sans aucune garantie de quelque nature que ce soit, expresse ou implicite.