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Gold vs SP500 Technical Analysis - Gold vs SP500 Trading: 2021-12-21
Gold vs SP500 Technical Analysis Summary
Above 0.401
Buy Stop
Below 0.371
Stop Loss
| Indicator | Signal |
| RSI | Buy |
| MACD | Sell |
| MA(200) | Neutral |
| Fractals | Neutral |
| Parabolic SAR | Buy |
| Bollinger Bands | Buy |
Gold vs SP500 Chart Analysis
Gold vs SP500 Technical Analysis
On the daily timeframe, XAUSnP: D1 has broken up the downtrend resistance line. A number of technical analysis indicators have formed signals for further growth. We do not exclude a bullish movement if XAUSnP rises above the last two upper fractals and the upper Bollinger band: 0.401. This level can be used as an entry point. Initial risk limitation is possible below the Parabolic signal, the lower Bollinger band, the low since September 2005 and the last lower fractal: 0.371. After opening a pending order, move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a deal, can go to the four-hour chart and set a stop-loss, moving it in the direction of movement. If the price overcomes the stop level (0.371) without activating the order (0.401), it is recommended to delete the order: there are internal changes in the market that weren't taken into account.
Fundamental Analysis of Gold Instruments - Gold vs SP500
The new variant of the Omicron coronavirus carries the risks of the beginning of the next wave of the epidemic. Will the XAUSnP quotes grow?
The previous recommendation for this gold instrument was canceled, as the price broke the stop level without activating the order. An upward movement is observed when gold rises in price or is at the same level, and the S & P500 stock index - declines. The demand for precious metals may increase amid the risks of a new wave of Covid-19, and for the same reason, the S & P500 may decline. During the first coronavirus outbreak in 2020, XAUSnP soared to a 6-year high in March and hit 0.705. This is noticeably higher than its current quotes. Now a number of scientists claim that the new Omicron strain is even more infectious and dangerous. An additional negative for the American stock market may be the Fed's plans to complete monetary stimulation of the US economy. The United States Personal Consumption Expenditures (PCE) Price Index for November will be published on December 23rd. According to forecasts, it can renew the maximum since 1990 and amount to 5.6% in annual terms. In theory, this can support the rise of XAUSnP.
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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.
