Gold looking bullish after yesterday’s bounce from 4627.
Here’s what our clients got this morning. See our Metals Reports options here.
Candlestick Chart & Technical Analysis
•Short term Trend: Bullish
•Medium term Trend: Bullish
•Yesterday’s candle:
“4627 has been a level on our radar of late and we started putting some distance on this last week. Weakness overnight found a swift opposite response after hitting this level (4626 was the low). We are back in Friday’s range after this recovery. Nice work from the bulls, that.“
We have been up to 4802.8 since then, so the bulls are on top and we’d expect to see a retest of 4888 and 4935 soon.
•Fibonacci says: 4627.2 and 4935 are references on a recovery trade… – Gunning for 4935 now.
•Moving Averages/Indicators/other: RSIRelative Strength Index - The speed and change of price move... More gives a buy signal. MACDMoving Average Convergence Divergence - a technical analysis... concurring now.
•Summary/Thoughts: Bulls on top once more.
•Favoured Trade(s) for today: Buy dips/rips.
•Bigger Picture thoughts and targets: 4240 and 4095 are retrace targets. – Bounced nicely off the latter a few weeks back.
Market Profile
•Profile setup/levels: 4748 is yesterday’s VPOCVolume Point of Control – The price where the most volume ... More; currently naked.
• 20-day CHVNComposite High Volume Node – “Composite” profiles; tho... More: 4735
•Naked VPOCsVolume Point of Control – The price where the most volume ... More below: 4269, 3680, 3548, 3431
•Naked VPOCsVolume Point of Control – The price where the most volume ... More above: 5555
•SPVsSingle Print Vacuum – Similar to an LVN/CLVN. A price or p... More in play below: 4721, 4556.4, 3996.9, 3992.7.
•SPVsSingle Print Vacuum – Similar to an LVN/CLVN. A price or p... More in play above: 4843.4, 4950, 4966, 5020
Support & Resistance Levels (Futurestechs’ SkewBar)
Key
Purple = Marabuzo lines
Green = Fibonacci level
Blue = Market Profile level
Orange = Trendlines/Chart Pattern levels
Clive Lambert FSTA – FuturesTechs
A 10-time Technical Analysis award winner, Clive Lambert FSTA has spent over 25 years advising trading desks on the Metals markets. Covering 5 LME Base Metals & 4 Precious Metal Markets (Gold, Silver, Platinum & Palladium), his reports are considered the industry benchmark, blending Market Profile and Candlestick Analysis to provide institutional-grade clarity for professional hedgers and traders.
Disclaimer:
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