Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Gold Weekly Strategy: Short Gold Prices At Every High

By Hiren PatelCommoditiesMay 03, 2021 12:26PM ET
www.investing.com/analysis/gold-weekly-strategy-short-gold-prices-at-every-high-200577148
Gold Weekly Strategy: Short Gold Prices At Every High
By Hiren Patel   |  May 03, 2021 12:26PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Technical review

On the up side, gold will still not break the $1800.00 mark. Major resistance is at $1815.20 (last 10 weeks' High was on Feb. 23).

The next area to watch is below the $1789.85 range (last Friday's high) and if gold continues below the $1789.85 range, we will expect it to fall below the $1754.85 range (last week's low - 50% Fibonacci Level).

Gold prices were volatile yesterday due to US Bond yields, but in the afternoon US sessions, Bond yields saw all of their profits washed away. While the gold and silver prices ratio was down -02.60% on Monday, it'll have more of an effect on silver prices; silver prices were up +05.00%.

The expectation is for some profit booking in Bond yields and the gold and silver ratio.

From a trading point of view, short gold prices at every high level.

And this week, you will see gold prices break below last week's low.

Intraday And STBT Trading Strategy For Gold And Silver

Sell gold in the $1797.50-$1799.90 range (June-Future)

SL $1815.20

Tgt1 $1760.00
Tgt2 $1750.00
Tgt3 $1740.00...

Gold Weekly Strategy: Short Gold Prices At Every High
 

Related Articles

Tim Knight
Miners Break Out By Tim Knight - May 14, 2021 1

The precious metals miners ETF, VanEck Vectors Gold Miners ETF (NYSE:GDX), has a clear breakout from its downtrend: Gold has been struggling since Aug. 6, but if it can manage to...

Jordan Roy-Byrne, CMT
Gold Is Still Dirt Cheap By Jordan Roy-Byrne, CMT - May 14, 2021 2

On a historical basis, gold remains incredibly cheap. It may seem expensive on the surface, trading near $2,000/oz, but the reality is contrary to the perception. Gold is trading...

Gold Weekly Strategy: Short Gold Prices At Every High

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (3)
Hiren Patel
Hiren Patel May 06, 2021 12:26AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Gold and Silver made a new low@1769.55+26.172 range yesterday.....against sell@1797.50-1799.90 and 27.200-27.300 range this week......What Next Gold and Silver Today/This Week????👍
Hiren Patel
Hiren Patel May 04, 2021 11:06PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
See Gold and Silver made a low@1770.35+26.168 range today.👍
Mehdi Captain Music
Mehdi Captain Music May 04, 2021 3:27AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
👌good sound
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email