Mastery Trade Gold XAUUSD 21 DEC 2022 for Fundamental Analysis and Technical Analysis

Gold : Fundamental Factors

1) Japanese central bank’s surprise policy change to allow long-term interest rates to rise which causes dollar to drop, and US stocks and bond yields jumped up.

2)Oil prices edged higher Tuesday, continuing the recent pickup on demand optimism for the new year as China, the world’s largest importer of crude, fully reopens from its COVID restrictions.

3) The U.S. government is aiming to refill its Strategic Petroleum Reserve, beginning with a 3 million barrel buy in February, having run it down to its lowest level in nearly 40 years in an attempt to curb prices.

Trend is Bullish

Fundamental Range : 1,816.74 – 1,819.35 ( Range is higher than yesterday range)

(Disclaimer: The range can be more or lesser however it will definately cross this range for the daily.)(Safe range provided)

Gold : Technical Analysis

Check at Daily Timeframe Support and Resistance for Fibonacci.

Check based on the current timing for the Support and Resistance when you want to go into trade.

Resistance Area : 1822.02, 1830.84,1845.13
Support Area :1793.46,1784.64,1770.35
Pivot point : 1807.74

Confirm with technical indicators and based on your own technical analysis for the trend.

Check to get more info on what most indicator would display

Check higher timeframe also for more confirmation for entry in Daily timeframe.

The technical indicator display sell in Daily and strong buy in weekly and buy in monthly timeframe.

Use linear regression to get confirmation trend at daily as they are not available in

Linear regression shows a neutral but slight uptrend at the daily timeframe .Can check linear regression trend in weekly and monthly for more confirmation.For weekly, it is downtrend and for monthly,it is showing uptrend.

Use Bolinger Band Strategy Tester and RSI Strategy Tester to get more confirmation for the trend and percent profitable.Check at bigger timeframe also such as weekly and monthly.

Ensure that both RSI strategy and Bolinger Band Strategy gives above 50%. for the percent profitable

RSI strategy tester and Bolinger Band Strategy Tester at the daily and weekly has percentage higher than 50% , supporting towards neutral or slight downtrend compare to the other timeframe such as Monthly.

Gold : Find buy at the daily chart by using the first support ,1793.46 and take profit will be at the pivot point ,1807.74 (CURRENT MARKET PRICE)

See current market and find the nearest support point for entry and take profit at the pivot point.

Fundamental and Technical analysis must be aligned

For further information, contact me ,Gurmit at +60142584067, I will guide anyone who wants to register with Weltrade. You can register at the link below. Thank you.

DISCLAIMER :This analysis is based on and You may follow based on your own discreetion.

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