Indices and commodities
#GOLD
Short
Active
XAUUSD: New 8 month Low points towards the 1W MA100 and $3,700 for TVC:GOLD by InvestingScope
TradingView
GOLD
Indices and commodities
Active
Current price
3956.88
USD
PNL
+0.82%
3956.88 USD
Stop Loss
22.3%
4879.42 USD
Take Profit
22.3%
3100.00 USD
Rationale
TradingView idea: XAUUSD: New 8 month Low points towards the 1W MA100 and $3,700 for TVC:GOLD by InvestingScope
TradingView symbol: GOLD
Gold is highly bearish on its 1W technical outlook (RSI = 36.140, MACD = -13.390, ADX = 40.394) as it is on a strong red week, comfortably under the 1W MA50 (once support of the Bull Cycle). The previous Bear Cycle didn't stop on the 1W MA50 either and after it broke, made its first bottom just over the 1W MA100. Before August ends, this can be achieved around $3,700. Eventually, expect a 1W MA200 test by the end of 2027 around $3,500 before this Bear Cycle bottoms and starts the next Bull …
Key details
- Ticker
- GOLD
- Asset class
- Indices and commodities
- Direction
- Short
- Status
- Active
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