TECHNICAL ANALYSIS: GOLD (UPDATED WEEK 11 ) 17TH MAR 2019 Weekly update

Ticker: Gold (US$/Oz) TVC:Gold

 

Welcome to Week 11th. InvestWhizz had a fantastic week in Gold as the chart moved exactly as per expectation. Congrats to those whom have made money last week 🙂

 

As mentioned last week, do join InvestWhizz for Free (easiest method is via Facebook login) to view the most recent analysis.

 

As usual, the technical analysis would be segregated into 3 parts

  1. Short Term – This would be updated once a week
  2. Mid Term – This would be updated once a month (Next update End Apr 19)
  3. Long Term – This would be updated once a quarter (Next update End Jun 19)

Important Note 1: Past dated analysis is after the Mid/Long Term Analysis below. This is for us to track our past track records.

Important Note 2: If you like our efforts, do like the post and share it in your Facebook wall so that more can benefit from this.

Important Note 3: Do connect Investwhizz via Facebook where you would receive new article notifications directly in your email!

 

Short Term analysis (Updated Week 11 – 17th Mar 19): (Do join for Free to view the analysis):

 

To read the full content of the researched company / Fx Ideas, subscribe with us (it's free!). You can choose to connect via Facebook via the

or
register through the registration link here.

 

Mid Term analysis (Updated Week 10 – 9th Mar 19):

  1. Analysis is similar to short term, we would expect gold to reach 1,305 level to test the immediate resistance for bull confirmation

 

Long Term analysis (Updated Week 10 – 9th Mar 19):

  1. We can see that gold continue to make higher low which would be a good sign for a bullish wave.
  2. However, do note that if gold is not able to break out in the upcoming weeks, we would be seeing a ranged bound scenario.

 

Past 2019 analysis:

 

Short Term analysis (Updated Week 10 – 9th Mar 19): – Actual as per expected

  1. After hitting a high of 1,346.75 on 20 Feb 2019, we can see gold had performed a healthy correction.
  2. In every bull wave, it is important for correction to happen for the momentum to be sustainable.
  3. In the upcoming week, we would expect gold to retest key Fibo level of 1,302.80 and next resistance level of 1,327.00
  4. Fundamentally, this is supported by the fact that Non Farm Payroll (NFP) results has came way below expectations
  5. We can see that USD Index had a drastic drop on Friday night, did a wig saw and close off lower.
  6. Coincidentally, this is also the 3rd time that USD Index failed to break above the resistance line.

Please see below link for analysis done in 2018 : 

Technical Analysis: Gold (Updated Week 52) 29th Dec 2018 (Short, Mid & Long Term updated)