As we’ve previously said, this stopped being a bullflag a long time ago. The trend goes back to the beginning of the last bull run. Traders will all have different interpretations of the chart and its trend, supply/demand etc, this is just our view.
We’ve broken out of the previous trendline which was retested and confirmed the bull trend in March 2020.

I would expect there to be some for or retracement over the coming days. A lot of buyers will have come in to buy the dip again last week so we may see a spike down to trigger some stops.
We’ve extended the downtrend line to show we are still in the trend, however, we have a confirmed weekly close and market open below the uptrend support which could possible now become resistance.
A retest is very likely so a good target for longs.

Support:
1685
1655-50
1645

Resistance:
1705
1720
1745-50

The reason for the boxes. Its not often you get 3 black crows on a weekly chart. Previously it was November 2020 where we formed the candlestick pattern.

As we analysed on the weekly chart, there is still room to go lower before we go higher to fulfil the retracement we’re looking for.
For this reason, on opening we will remain neutral in the markets until we have a confirmed setup on the lower timeframes for a trade.
It wouldn’t surprise us to see a glitch on opening due to the news release, as always it should respect the technical levels.

We have a level on this chart that sticks out which is situated at 1748 and a lower level 1675-1667.

Support:
1675
1664-66
1640

Resistance:
1721
1730
1745-50

We had a minor move out of the short term trend and then back in for the continuation. This chart is also showing we have room to go lower before the market attempts higher pricing on Gold .

As suggested on our previous chart, we may get a glitch on opening leaving a gap. Opening higher and leaving a gap below will be something to look out for, giving us an opportunity to target the lower levels.
Our Hourly chart will give us a better indication of short-term direction which we will look at on opening and over the course of the day.

As present we’re not in any trades, we have a good run from the 1900 level and we closed 90% of our shorts at 1750 which was our target over the last few months.

We’ll day trade when the opportunity arises but our view remains bearish for now.

Support:

1685
1660
1647

Resistance:

1708
1717-20
1737-41
1750-60

We'll wait for market open before we get in to any trades. See you tomorrow. Wishing everyone a successful week ahead.

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Knights of Gold.

Market open. Glitch up is just what we wanted to see. See you in the morning

Key level here. We're still within the 4H trend.

Support has been broken. What we're looking for now....If this closes above and the starts supporting again at this level we're looking for this to go up and test the 1708-10 level again. Its Monday and the market will try to throw traders around getting them stuck in positions for the week. We're only scalping today which works well in these markets.

Daily:

We're preparing to become short-term bulls in the market. The levels we're looking for are 1652 and 1640. Its a large range below where we're looking for our entries, hopefully we'll run these entries up towards 1700s. Sitting tight at the moment, not shorting it down here unless we get a signal tomorrow. We'll be patient and wait for our level to come.

With this idea we want to see how it reacts at these levels. Its not just about entering blindly, nothing is guaranteed in the markets. We'll wait for it to find a strong support, form a structure we're looking for then take the entry. It very possible that level can be broken.

1H Levels. There's a right shoulder retest at 1708 that should get done. We also have a level of 1720 we're keeping an eye on, after that its 1740-45. This are good targets for longs (not a signal). We're looking to take small longs of pullbacks but our bias still remains short. We're going to be hunting a good level to short it again for our lower target of 1640.

This is the 1H chart. Previous one is 15M

We're looking for this level for a reaction.

Members, be very careful shorting. We're only shorting for quick captures, there are levels higher up:

1714
1720
1724
1736

They're all likely targets for buyers and potential turning points. We have to assess each level when we get there to make sure we confirm our short for our lower target.

Any pullback should result in the price moving up at some point. We're looking for the price to support around the 1708 and 1703 levels if it gets there. We still have our lower targets but don't think we're going down just yet.

We have a news release today 14:00GMT so the market will react. Make sure you're all protecting your trades.

Support:

1708
1703
1696

Resistance:

1727-30
1740

30M makes things look a little clearer. What could be a classic bullflag formed.

Excalibur is suggesting a strong support at 1701 and a new lower target of 1654. We're going to sit and wait.

The higher resistance levels are very important. We want to see how price reacts at these levels, especially 1720-22 and 1727-30. The ideal scenario here is for the price to move sharply up and reject at those price points.

Close above 1720 (which looks likely) could be the break Gold was waiting for. Doesn't mean the low is in but it means higher targets are now in range. Please refer to the previous charts and support and resistance levels for targets.

1710-14 support and 1736-40 resistance levels for tomorrow. We'll update you in the morning