{"id":140201,"date":"2019-01-16T10:59:42","date_gmt":"2019-01-16T15:59:42","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=140201"},"modified":"2019-01-16T06:48:54","modified_gmt":"2019-01-16T11:48:54","slug":"gold-starts-2019-on-the-front-foot","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/01\/gold-starts-2019-on-the-front-foot\/","title":{"rendered":"Gold starts 2019 on the front foot"},"content":{"rendered":"
January 16, 2019<\/div>
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By Tomasz Wisniewski, Alpari<\/a><\/strong><\/p>\n

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Mid-2018 may not have been the best time for gold but the end of the year was awesome. The beginning of January has basically seen a continuation of the positive sentiment on this precious metal, occasionally strengthened by additional factors.<\/p>\n

The first factor is also in my opinion the most interesting one. Gold has started the last 6 years in a row with an upswing. At least first few weeks of the year have been positive. Check out the chart for yourself; quite nice, huh? What\u2019s more, we\u2019re getting some help from the fundamentals. Weak data from China and Germany and the general fear of a global slowdown are the main drivers of the rise on the gold. From a technical standpoint, it\u2019s now all about the ascending triangle pattern. XAUUSD has a horizontal resistance at 1,297 USD\/oz (orange) and a dynamic support on the black line. In theory, that promotes a breakout of the orange line and a further rise. Another bullish factor here is the formation marked in yellow. That is a failed head and shoulders pattern. Sellers had a chance to use it and go south, but the rate went up instead.<\/p>\n

\"XAUUSDA breakout of the orange resistance is more likely. The target in that case will be the area around 1,307 USD\/oz, which for the past few years has been crucial for this precious metal. It has been repeatedly tested over the past few years as both a support and resistance. The buy signal will be cancelled if we get a breakout of the black line.<\/p>\n

Source: “Gold starts 2019 on the front foot<\/a>“<\/div>\n<\/div>\n
<\/div>\n","protected":false},"excerpt":{"rendered":"

By Tomasz Wisniewski, Alpari Mid-2018 may not have been the best time for gold but the end of the year was awesome. The beginning of January has basically seen a continuation of the positive sentiment on this precious metal, occasionally strengthened by additional factors. The first factor is also in my opinion the most interesting […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-140201","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/140201","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=140201"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/140201\/revisions"}],"predecessor-version":[{"id":140202,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/140201\/revisions\/140202"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=140201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=140201"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=140201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}