Mihai Iacob - Forex& Gold Trading - Free Channel💰

2022-02-24 08:40:19 #Gold is facing another strong resistance

Yesterday I said that Gold could fall from 1915 zone resistance and although we had some correction, bulls were strong and the price reversed without touching the 1870-1880 support zone . Yesterday's reversal was followed by a skyrocketing rise in the Asian session and at this moment the price is just under 1950 very strong resistance.
At this moment a real correction has become very probable and I will look to sell above 1950. Open / Comment

2022-02-23 05:25:10 #Gold can drop to support

Yesterday I said that Gold is facing strong resistance in the 1915 zone and after it made an intraday high at 1914 Gold has dropped to 1893.
At this moment the price is slightly under 1900 and this correction could continue.
Support is around 1870 and traders can look to sell rallies with this target in mind. Open / Comment

2022-02-22 09:49:41 #Gold is facing strong resistance

With Ukraine, conflict Gold has managed to break above 1830 resistance followed by breaking above 1870 resistance.
In my opinion, this conflict is already priced in and a correction should follow.
1910-1920 is a strong resistance zone and I expect a drop and retest of 1870 now support.
That being said I will look to sell rallies above 1910 Open / Comment

2022-02-18 07:32:07 #Gold- Correction could follow

As I said in my previous analysis, Gold is very close to breaking above the range resistance just above 1830 and this could lead to more gains and a touch of 1900 figure.
Yesterday the price reached my 1900 target and from now on traders can expect a correction.
Technically, Gold is facing 1905-1915 zone horizontal resistance and here short-term traders can look for selling opportunities.
However, if you are looking to sell, you should keep in mind that XauUsd is very bullish and has resumed its long-term uptrend. Open / Comment

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2022-02-10 08:52:26 #Gold at a significant level

Yesterday I said that Gold looks like it finished its 1.5 years correction/consolidation and the price action in the past hours comes to add more confirmation for this.
At this moment Gold is trading exactly in the resistance of the range that I've spoken about and just under falling trend line resistance.
The probability of a break above is very high at this point and this could lead to strong acceleration considering the accumulation period.
Levels that bulls should keep in mind are 1860-1870 previous high, 1900-1920 zone, but, if we have such a break, 1950 is a reasonable target in medium-term Open / Comment

2022-02-10 08:11:12 #Silver- I expect a break to the upside

On Tuesday, Silver has broken above a double bottom (visible on h4 chart attached) and now is facing resistance at 23.30
I expect a continuation to the upside with a first target at 24 wich is the measured target for the double bottom and extension to important 24.50.
22.80-23.00 is a very important support at this point and bulls need to keep it intact. Open / Comment

2022-02-10 06:51:01 #SP500- Bull will target 4800 ATH

In my previous SP500 analysis I said that " bulls need to keep 4400 intact", and this support proved to be a very strong one.
Now the index is trading above the descending trend line and exactly in the horizontal resistance zone and the road is clear for a challenge of the old ATH.
In my opinion dips should be bought with a negation of this bullish scenario under 4400 Open / Comment

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2022-02-09 11:43:29 #GbpUsd can reach 1.4 in medium term

As always, GbpUsd is a crazy pair, with a lot of spikes and false breaks, so to get a clear picture, sometimes you need to look at the longer TF.
Looking at the weekly chart we can see that after the "pandemic" bottom in 2020, GbpUsd has started to change direction and also has broken above the falling wedge's resistance in that summer.
The high from 2021 is marked by a double top and the pair has started to correct.
As I said, GbpUsd is a "false breaks" pair, and we have a false break to the downside in November 2021, quickly reversed, followed by an up false break.
However, the last drop has stopped in 1.3350 zone horizontal support and now is trading 200 pips above this support.
My preference for GbpUsd is l;ong trades as long as 1.3350 is intact and, as the title says, I'm expecting 1.4 to be reached in the medium-term. Open / Comment