Check Gold Price:
- Gold prices continue to be at an all -time low, thanks in part to a core resource and technology.
- A move away from the symmetrical triangle breakout will call for gold prices to fall below 1700 in the coming weeks.
- According to the IG Conceptual Conceptgold prices will hold a similar pattern in the near future.
Nothing to want
Gold prices continue to trade lower after breaking out of their monthly symmetrical triangle at the bottom. The technology continues to be weak, with price action showing it could move below 1700 in the coming weeks. The critical history continues to be bearish, as US real income – Treasury nominal to give less inflation expectations – is expected to remain high. The concept of “selling the company” stands for the future, simple and straightforward.
Gold continues to decline
Historically, gold prices have been associated with volatility unlike other commodities. While other commodities such as stocks and bonds don’t like much volatility – it indicates greater uncertainty about cash flows, shares, coupon fees, and more. something else. The high pitfall in gold volatility gives an early signal for the future for gold prices.
GVZ (Gold Volatility) Technical Analysis: Daily Stock Market (July 2021 to July 2022) (Table 1)
Gold volatility (as measured by Cboe’s gold volatility ETF, GVZ, which tracks the 1-month volatility of gold derived from the GLD option chain) is trading at 19.45 at the time this report was written. The 5-day relationship between GVZ and gold prices +0.27 Although the incubation lasts 20 -0 days.36. One week ago, at July 5, The relationship is 5 days -0.93 and incubation lasts 20 -0 days.60.
Gold Marketing Education: Daily Performance (July 2021 to July 2022) (Figure 2)
Gold prices have fallen sharply below the 23.6% Fibonacci retracement of the 2020 high/2021 low at 1770.89 after their considered sopening the ymmetrical triangle. Technology is becoming more and more sophisticated, taking on a bad sound. Gold prices are currently standing below their 5-, 8-, 13-, and 21-EMA envelopes on a daily basis, compared to the bearish index. The daily MACD decline below its signal line is deepening, while the daily Slow Stochastics is planted in oversold territory. Moving out of the triangle would require a fall to 1680 in the coming weeks – where 2021 lows are found.
Gold Marketing Education: Weekly Course (October 2015 to July 2022) (Figure 3)
As has been said many times before, “A fall below the June low of 1805.21 will increase the likelihood of a steady move below 1800 in the coming months.” This is playing out, in line with the concept described above “tThat is the time of each week The air feeling continues two tops working for the goald price, with two carved ends by the highs of August 2020 and March 2022.“A return to the area around the 2021 low, close to the 38.2% Fibonacci retracement of the 2015 low / 2020 high at 1682.72, is immediately noticeable.
IG CLIENT SENTIMENT INDEX: GOLD PRICE FORECAST (July 12, 2022) (Chart 4)
Gold: The stock trading data shows 84.40% of traders are on the net with the ratio of long and short traders at 5.41 to 1. The number of net long-distance traders is 2.10% lower than before yesterday and 1.80% higher from the previous week. It was 11.27% higher than yesterday and 1.76% higher than last week.
We often take an opinion against public opinion, and the fact that traders have a long -term net suggests that gold prices will continue.
The net is longer than yesterday but the net is longer than last week. The combination of current thinking and recent innovations gives us a great gold trading company.
— Written by Christopher Vecchio, CFA, Senior Strategist