en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en ca es es tr en en en ne en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en en pt en en en en en en es nl en en en en en en en en en en en en en en en en en
$XAU = $Gold : Monthly Analysis = 30.10.2021 #GOLD #preciousmetals $GDX $GLD #XAUUSD #GC_F #investing – Investing Angles
Forecasting Stock Movements from Multiple Angles
Menu + × expanded collapsed
Gold candles painted a very interesting composition of monthly, weekly and daily candles. That Friday’s big drop was definitely a game changer. But, actually, it was not totally unexpected. The quarterly and monthly odds remained bearish and a bearish event at the end of month had better chances to happen than a bullish one. Let’s have a closer look at the metal from different perspectives.
The quarterly and monthly frames remain bearish, they were discussed in details in the quarterly review.
For almost all month gold was on track to making a bottom by forming an Either Piercing Line or even bullish Engulfing. But instead, again thanks to Friday’s drop, it made only a Thrusting Line that is widely viewed as a bearish continuation combo. The low monthly volume and the majority of indicators do not yet support a bullish reversal.
Anyway, the candle needs confirmation and I am cautiously bearish for November.
The weekly candle is a piece of art. Technically, it is a bearish Harami that requires confirmation. But its position! Just a tad within the Sep 13 long red candle, just a few points below 20 EMA and 100 MA, pushed RSI below 50 on a higher selling volume. And two more things: 20 EMA crossed 100 MA in a bearish cross and 50 MA seems ready to do the same soon.
Looks like a perfect setup for a move downwards.
Daily made (as anticipated on Thursday) a Falling 3 Methods combo. The candle pierced through 200 and 100 MA and stopped below 20 EMA. In the process, it flipped PSAR bearish. Quite a move I would say.
The lower prices are ahead, the bearish odds are very high.
I am tracking a few counts at this point. The red path remains primary after October’s closure.
I view the whole wave off the top in August 2020 as a possible diagonal or a motive wave that is guided by the Long Term chart below.
The long term view remains the same as charted in August 2020. Not a single element was adjusted on this chart, and I am yet to see a reason for making changes. Showing two charts for comparison.
If you would like to continue reading, please subscribe to Premium Content.
Read more of this content when you subscribe today.
Follow the blog on Twitter @InvestingAngles or, if you want all posts in your inbox, by email subscription.
$XAU = $Gold : Weekly Analysis = 23.10.2021 #GOLD #preciousmetals $GDX $GLD #XAUUSD #GC_F #investing
$XAU = $Gold : Monthly Analysis + Long Term Forecast = 01.10.2021 #GOLD #preciousmetals $GDX $GLD #XAUUSD #GC_F #investing
Posted byDimonOctober 30, 2021October 30, 2021Posted inCandles Speak, Gold Futures, Long Term Forecast, Monthly AnalysisTags:Gold Futures, XAU/USD
Previous Post Previous post:
$GDX = Monthly Analysis + Long Term Forecast = 30.10.2021 #gold #GLD #GDX #preciousmetals #investing #trading $gold #miners
Next Post Next post:
#Ethereum = Quick Update = 30.10.2021 $ETH #ETH #investing #cryptocurrency #crypto #trading
3 thoughts on “$XAU = $Gold : Monthly Analysis = 30.10.2021 #GOLD #preciousmetals $GDX $GLD #XAUUSD #GC_F #investing”
Pingback: $XAU = $Gold : Daily Update = 02.11.2021 #GOLD #preciousmetals $GDX $GLD #XAUUSD #GC_F #investing - Investing Angles
Pingback: $XAU = $Gold : Daily Update = 03.11.2021 #GOLD #preciousmetals $GDX $GLD #XAUUSD #GC_F #investing - Investing Angles
Pingback: $XAU $Gold = Daily + Updated Long Term Forecast = 04.11.2021 #GOLD #preciousmetals $GDX $GLD #XAUUSD #GC_F #investing - Investing Angles