Bull Gateway: 1852
Gold has created three consecutive positive bars in the last 25 trading sessions (36 days) for the first time. And it’s above 200 MA. That’s a good sign for buyers! If gold breaks the parallel channel, my upside targets are 1866 – 1882 – 1906 – 1920.
But, it hasn’t broken the parallel channel in the last trading session. It’s at the resistance line of it. And XAUUSD is quite far to the bull gateway level. So, wait and watch is an option for bull traders.
Gold’s downtrend will start from the 1832 level. If it fails to break the parallel channel, then go for the following levels: 1826 – 1812 – 1800
Watch significant releases or events that may affect the movement of gold, silver, crude oil, and natural gas.
Tuesday, May 24, 2022
04:30 FOMC Member George Speaks – Low Impact
19:30 New Home Sales (Apr) – Medium Impact
Wednesday, May 25, 2022
18:00 Core Durable Goods Orders (MoM) (Apr) – M
20:00 Crude Oil Inventories – High Impact
23:30 FOMC Meeting Minutes – Meduim Impact
Thursday, May 26, 2022
18:00 GDP (QoQ) (Q1), and Initial Jobless Claims – High Impact
20:00 Natural Gas Storage – Low Impact
Friday, May 27, 2022
17:05 FOMC Member Bullard Speaks – Low Impact
To become a subscriber, subscribe to our free newsletter services. Our service is free for all.
Get free forex & commodity ideas, chart setups, and analysis for the upcoming session:
Want to get premium trading alerts on XAUUSD, EURUSD, AUDUSD, GBPUSD, etc., and unlimited access to Moneymunch? Join today and start potentially multiplying your net worth: Premium Forex Signals
Premium features: daily updates, full access to the Moneymunch #1 Rank List, Research Reports, Premium screens, and much more. You΄ll quickly identify which commodities to buy, which to sell, and target today΄s hottest industries.
Have you any questions/feedback about this article? Please leave your queries in the comment box for answers.
Disclaimer: The information provided on this website, including but not limited to stock, commodity, and forex trading tips, technical analysis, and research reports, is solely for educational and informational purposes. It should not be considered as financial advice or a recommendation to engage in any trading activity. Trading in stocks, commodities, and forex involves substantial risks, and you should carefully consider your financial situation and consult with a professional advisor before making any trading decisions. Moneymunch.com and its authors do not guarantee the accuracy, completeness, or reliability of the information provided, and shall not be held responsible for any losses or damages incurred as a result of using or relying on such information. Trading in the financial markets is subject to market risks, and past performance is not indicative of future results. By accessing and using this website, you acknowledge and agree to the terms of this disclaimer.