2022/02/25 07:29 AM – GOLD FUTURES – IN CONSOLIDATION MODE !!

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


Sharp rally seen yesterday which pushed the  Gold Futures to an intraday high @ $ 1’976.50. 

An healthy corrective and consolidation move took place and this recent price action should be seen as a constructive price action calling for further upside over the upcoming trading sessions. 

Tenkan-Sen @ 1’911 should be the first level to look at on a daily closing level as a failure to hold above this point would put some selling pressure towards the Kijun-Sen @ 1’878, already been tested recently. 

Below the MID  BOLLINGER BAND , currently @ 1’851 remains a good indicator and should be used as a BAROMETER ! 

The Lagging Line on a DAILY basis is far above the clouds. 

4 HOURS (H4)

The yesterday’s low reached yesterday @ 1’878 coincides exactly with the top of the 4 hours clouds support and the clouds worked perfectly well in rejecting, so far, the downside breakout attempt. 

In this H4 time frame a failure to hold above the clouds  support zone (1’860) would postpone a little bit the expected  bullish scenario, calling for higher levels  

CONCLUSION : 

A FIRST BREAKOUT OF THE  DOUBLE BOTTOM TRIGGER LEVEL @ 1’919 OCCURED YESTERDAY AND SHOULD BE CONFIRMED ON A WEEKLY CLOSING BASIS LATER ON TODAY.  

A CONFIRMATION WOULD OPEN THE DOOR FOR THE TECHNICAL TARGET OF THE  DOUBLE BOTTOM @ $ 2’161 

IRONMAN8848 & Jean-Pierre Burki

Disclaimer / Avertissement :

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.