Xauusd forecasts today Gold market trends analysis and signals By Francesco Massetti Posted on 4 July 2024 Condividi su Facebook Condividi su Twitter Condiviso su Google+ Condiviso su Pinterest Condiviso su Linkedin Condiviso su Tumblr Xauusd forecasts today Gold Xauusd forecasts today Gold stock market signals Xauusd forecasts today technical analysis with trading signals on the Gold market in the medium and long term using WD Gann cycles. Weekly Historical Gold Graph with Technical Chart Weekly gold 28.06.24 Short-term Gold Technical Analysis The Set Up weekly of 13 October 2023 was very important in the Gold market, as it kicked off a new bullish season that continues to this day. Prior to this signal, the price dynamic was negative sideways and ended with the weekly bottom on 06 October at the 1X8 support angle at $1,810. The new bullish phase of the Gold Exchange was achieved through two important bullish movements. The first starts from the weekly set-up on 13 October and ends with the expiry of the Range Square in the week of 08 December 2023, generating a bearish out-side. From the time cycle of 08 December until the week of 23 February 2024, Gold’s trend has been sideways, rebalancing the strong price overbalance. The second bullish movement, which is still ongoing, started in the week expiring on 16.02.2024 and took prices from $1,984 to a top of $2,431 on 12 April. The next time cycle on 19 April generated a major negative price retracement to $2,277 on the 1X2 angular supports visible as yellow vectors in the middle part of the channel. From this angular support a new bullish leg started again: as soon as the yellow metal reached a new top at $2,450 in the week of 24 May, it generated a bearish out-side. A new bullish leg started from this angular support: as soon as the yellow metal reached a new top at $2,450 in the week of 24 May, it generated a bearish out-side. After the weekly set-up on 07 June it became very clear that Gold is developing a new sideways phase, which will last several weeks. The positive sideways action will have as its upper level the area $2,420-2440, while the negative sideways action will have as its lower level the area $2,314-2,280. Monthly time frame gold trend Monthly Gold 28.06.24 The medium-term trend in the Gold market is bullish and the swing chart has been positive for 8 months. The two lows reached in September 2022 and October 2023 at $1,615 and $1,810, respectively, were generated by the ascending 1X2 angular supports that form the lower side of the ascending corridor. Following the bullish out-side of October 2023, the quotations underwent a strong positive acceleration, reaching the median vectors of the channel visible with the 1X2 angles in yellow. In the monthly set-ups of May-June 2024, quotations reached $2,450. Next targets in the area of $2,413; $2,450; $2,500. Supports in the area of $2,290; $2,260. Long-term Gold Forecasts Quarterly Gold 28.06.24 The long-term trend is also bullish. The quarterly yield from Q1 2024 has quadrupled in value, as is shown by the purple vector, 4X1 in the photo. As we can see in the picture just above, in Q2 2024, 1X2 and static angular resistances limited the growth in the area of $2,422. Further resistance in the $2,520 area, while support lies in the $2,235 area. The article on the Xauusd market was described using the WD Gann technique and the Top Trader(c) stock exchange software.
