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Gold vs SP500 Technical Analysis - Gold vs SP500 Trading: 2021-12-06
Gold vs SP500 Technical Analysis Summary
Above 0.401
Buy Stop
Below 0.376
Stop Loss
| Indicator | Signal |
| RSI | Buy |
| MACD | Neutral |
| MA(200) | Neutral |
| Fractals | Neutral |
| Parabolic SAR | Buy |
| Bollinger Bands | Neutral |
Gold vs SP500 Chart Analysis
Gold vs SP500 Technical Analysis
On the daily timeframe, XAUSnP: D1 approached the downtrend resistance line. It must be broken upward before opening a position. 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, 16-year low and the last lower fractal: 0.376. After opening a pending order, move the stop-loss 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 (0.376) without activating the order (0.401), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Gold Instruments - Gold vs SP500
The new variant of the Omicron coronavirus carries the risks of the next wave of the pandemic. Will the XAUSnP quotes grow?
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 quit monetary stimulation of the US economy.
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