US stock market closed mixed, Dow Jones down 0.18%

At the close of the New York Stock Exchange, the Dow Jones fell 0.18%, the S&P 500 rose 0.14% and the NASDAQ Composite rose 0.40%. Fed chief Jerome Powell said the regulator will continue to raise the discount rate in the fight against inflation. According to CME Group, most analysts now expect the regulator to […]

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Technical analysis on Gold for March 8th, 2023.

Violet lines- Fibonacci retracements Quiet day for Gold today as traders ‘digest’ yesterday’s volatility spike and the sharp sell off that brought Gold price from $1,850 to $1,810. Gold price has so far retraced almost 38% of the entire decline from $1,959. So far Gold price holds above the recent lows at $1,804. The deep […]

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Gold punished but not defeated

Gold was punished for trying to grow on an unfavorable external background. A week earlier, I noted that falling stocks, skyrocketing Treasury yields, and a resurgent U.S. dollar are creating headwinds for the precious metal. Its rally is an anomaly, and investors will soon be able to see this. Thus, XAUUSD quotes collapsed to the […]

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Analysis of Gold for March 08,.2023 – First downside target reached at $1.808, potential for the further downside movement

Technical analysis: Gold has been trading downside as I expected. The price reached first downside objective at $1.808 with strong momentum. Due to the strong downside momentum in the background I see potential for the further downside continuation after the correction. Next downside objective is set at the price of $1.770 Stochastic and MACD oscillators-are […]

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Powell explained to Congress that it will be a long time before inflation is defeated. The dollar is strengthening sharply

Federal Reserve Chairman Jerome Powell, delivered a semi-annual report to the US Congress. Expectations were confirmed – Powell’s speech was as hawkish as it is possible in the current conditions. In particular, Powell noted that “…inflationary pressures are higher than expected during our previous meeting of the Federal Open Market Committee (FOMC)…Despite the fact that […]

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Gold: temporary rebound ahead of new sell-off

Gold crashed today and now is trading at 1,819 at the time of writing. It has dropped as much as 1,815 today where it has found temporary support and demand. XAU/USD registered a 1.94% drop from today’s high of 1,851 to the daily low of 1,815. DXY’s strong rally forced the yellow metal to develop […]

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Ichimoku cloud indicator analysis on Gold for March 7th, 2023.

Gold price is trading around $1,840. Price is above the Kumo (cloud) thus in bullish trend in the 4hour chart. Price has broken below the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). These two indicators provided support, but are now resistance levels. Price has provided this sign of weakness making it vulnerable […]

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Technical Analysis of ETH/USD for March 7, 2023

Crypto Industry News: There is just over a month left until the ETH Shanghai update, so you can expect more investor movements on this cryptocurrency. Some Ethereum holders may want to sell their crypto while others are getting ready to buy with increased turnover. There are voices that a hard fork can raise the ETH […]

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US stock market closed mixed, Dow Jones up 0.12%

At the close of the New York Stock Exchange, the Dow Jones rose 0.12%, the S&P 500 rose 0.07%, and the NASDAQ Composite fell 0.11%. Markets are also awaiting information from the US labor market, which will be published on Friday. According to market strategist at Nikko Asset Management John Weil, the data for February […]

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Gold retesting buyers, 1,844 as critical support

The price of gold retreated a little in the short term but the bias remains bullish. It could only test and retest the immediate support levels before extending its growth. It’s trading at 1,851 at the time of writing and it seems ready to jump higher. Today, XAU/USD retreated a little also because the Switzerland […]

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Bitcoin continues to consolidate below $23k: what to expect in the new trading week?

The cryptocurrency market ended the previous week with a sharp bearish breakdown of the $23k level. Subsequently, the buyers managed to stop the fall near the $22k level, however there was no significant absorption of bearish volumes. Santiment analysts note that during the fall of the crypto market on Friday, there was no panic among […]

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Analysis of Gold for March 06,.2023 – Rejection of the Fibonacci resistance confluence

Technical analysis: Gold has been trading upside in the background but I found test and rejection of the key Fibonacci confluence resistance zone at $1.860 Due to the longer term downside cycle and the rejection fo the key Fibonacci resistance in the background, I see potential for the further downside movement towards lower reference point. […]

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Gold bulls are back

Gold’s ability to rise above $1,850 per ounce is creating some healthy optimism in the market. Retail investors, as well as Wall Street analysts, expect prices to rise this week. 19 Wall Street analysts took part in the gold survey. Among them, 13 analysts, or 68%, are optimistic. At the same time, one analyst, or […]

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Ichimoku cloud indicator analysis on Gold for March 3rd, 2023.

Gold price is trading above $1,840 and today has provide us with a new bullish signal in the 4 hour chart as price has broken above the Kumo (cloud). The 4 hour chart turns bullish according to the Ichimoku cloud indicator. Price is above both the tenkan-sen (red line indicator) and the kijun-sen (yellow line […]

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US premarket on March 3: Market sees positive signs

On Friday, US stock index futures rose, as did European markets, as investors recovered slightly from February’s turmoil caused by a strong US economy and the risk of further inflation. The bond market also stopped falling. Europe’s main index rose by 0.6% and returned to a one-week high. The S&P 500 index futures jumped by […]

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Analysis of Gold for March 03,.2023 – Key resistance zone on the test at $1.845

Technical analysis: Gold has been trading upside this morning but I found that resistance zone at the price of $1.845/47 is on the test. In case of the rejection of the key resistance, I see possible rotation downside towards $.830 In case of the breakout of the resistance zone, I see potential for the upside […]

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Technical Analysis of ETH/USD for March 3, 2023

Crypto Industry News: Silvergate Capital’s shares fell almost in half today as the cryptocurrency bank delayed filing its annual (10K) report with the SEC. The report was due to appear in the Securities and Exchange Commission on March 16. Gary Gensler will definitely not be happy about this. The institution is still “assessing the impact […]

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Gold accumulates more bullish energy above 1,830

The price of gold retreated a little in the short term as the Dollar Index rallied. The yellow metal is trading at 1,837 at the time of writing. Still, the retreat could be only temporary as the upside pressure remains high. Fundamentally, the US data came in better than expected but the DXY seems overbought. […]

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Ichimoku cloud indicator analysis on Gold for March 2nd, 2023.

Gold price is trading around $1,836. In Ichimoku cloud terms the 4 hour chart shows Gold in neutral trend as price is inside the Kumo (cloud). Gold price is trading above the kijun-sen (yellow line indicator) that provides support at $1,824. At the same price level we also find support by the Kumo (cloud). The […]

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Robert Kiyosaki urged to buy Bitcoin, gold, and silver

While bitcoin and ether are correcting before the next big sell-off, which I recommend to pay special attention to and which we will talk about in the technical analysis below, Robert Kiyosaki once again announced the impending collapse of the global economy. Rich Dad Poor Dad author Robert Kiyosaki published his even more gloomy forecast […]

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Analysis of Gold for March 02,.2023 – Potential for the further downside movement

Technical analysis: Gold has been trading downside this morning and I found the rejection of the Fibonacci confluence at the price of $1.845. Due to the rejection of the Fibonacci confluence in the background and the fresh crosses on the MACD and Stochastic, I see potential for the further downside movement towards lower references. Downside […]

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The US shares market closed with multidirectional, Dow Jones added 0.02%

The main reason for the pessimism of investors is the risks associated with the future actions of the global central banks. Against the backdrop of the persistent high inflation, traders are waiting for toughening the monetary policy of regulators and further raising rates. Traiders also evaluate statistics on the country on Wednesday. The USA Manuapacturn […]

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Technical analysis on Gold for March 1st, 2023.

Violet lines- Fibonacci retracements Black line- bullish RSI divergence Gold price is bouncing higher. The RSI has already warned traders of the increased chances of a bounce. We have been receiving bullish divergence signals by the RSI for some time now. Gold price has most probably completed the downward wave from $1,959 and has now […]

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Bitcoin managed to end February on a bullish note: what to expect in the near term?

Bitcoin closes the monthly February candlestick with a minimal buying advantage. The asset ends the last month of winter with a gain of +0.03%, which can be perceived as closing at zero, which is a positive result, given everything that happened in mid-February. Bulls’ attempt to continue the upward movement of the cryptocurrency after a […]

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Analysis of Gold for March 01,.2023 – Rejection of the Fibonacci node

Technical analysis: Gold has been trading upside this morning and I found the rejection of the Fibonacci confluence at $1.837, which is good sign for the further downside movement. Due to the bearish divergence on the momentum oscillators and rejection of the Fibonacci resistance, I see potential for the downside movement towards lower references. Downside […]

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