Gold: negative outlook below 1,104/08
"A gold-bull market that relies too heavily on safe-haven related demand may not be sustainable in the long run."
- HSBC (based on CNBC)
Pair's Outlook
Near-term outlook for gold is moderately bearish. We see the formidable resistance zone ahead of the bullion, represented by 100-day SMA and Jan 8-20 downtrend at 1,104/08. Any close above here should trigger a rally, but the bulls are likely to struggle at 1,126/32 (monthly R3/200-day SMA). On the bearish side, we would allow for a selloff down to 1,087 (20-day SMA and monthly R1), followed by two-month uptrend and 55-day SMA at 1,076. A drop below here will increase downside pressure on gold in the mid-term, but some support should be in place at 1,065 (monthly PP) and at 1,046 (2015 low) later.
Traders' Sentiment
Advantage of long traders has been unchanged over the last 48 hours, as they continue holding about 55% of all open transactions in the SWFX market.
- HSBC (based on CNBC)
Pair's Outlook
Near-term outlook for gold is moderately bearish. We see the formidable resistance zone ahead of the bullion, represented by 100-day SMA and Jan 8-20 downtrend at 1,104/08. Any close above here should trigger a rally, but the bulls are likely to struggle at 1,126/32 (monthly R3/200-day SMA). On the bearish side, we would allow for a selloff down to 1,087 (20-day SMA and monthly R1), followed by two-month uptrend and 55-day SMA at 1,076. A drop below here will increase downside pressure on gold in the mid-term, but some support should be in place at 1,065 (monthly PP) and at 1,046 (2015 low) later.
Traders' Sentiment
Advantage of long traders has been unchanged over the last 48 hours, as they continue holding about 55% of all open transactions in the SWFX market.
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.