{"id":188417,"date":"2023-04-12T03:20:08","date_gmt":"2023-04-12T07:20:08","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=188417"},"modified":"2023-04-12T12:58:37","modified_gmt":"2023-04-12T16:58:37","slug":"gold-gc-poised-to-retest-2023-high","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/technical-analysis\/gold-gc-poised-to-retest-2023-high\/","title":{"rendered":"Gold (GC) Poised to Retest 2023 High"},"content":{"rendered":"\n

Gold (GC) is consolidating near ascending triangle resistance (on the 4hr and daily chart), and appears to be gearing up to retest upchannel resistance (on the weekly chart) ahead of the weekend.\u00a0 With GC having recovered from a brief dip Monday below the psychologically key 2000 whole figure level, odds are elevated for GC to before month end, form a fresh 2023 high and complete a Bull Flag consolidation since August 2020.\u00a0 A test of the 2022 high and 2020 record high by May is likely.\u00a0\u00a0 Bullish catalysts may arrive as early as today 830am EST following the US CPI, FOMC meeting minutes, Thursday after the US PPI and unemployment claims and Friday with the US retail sales and preliminary UoM consumer sentiment.\u00a0 Congratulations<\/a> <\/a>to paying subscribers who benefited from the Nov 2, 2022 analysis suggesting that GC was in the early stages of forming a major bottom<\/a>.\u00a0 The weekly, daily and 4hr RSI, Stochastics and MACD are rallying or bottoming.\u00a0 I am looking to enter long in the green zone (of the daily chart), targeting the red zone for Tuesday.\u00a0 The amber\/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter).\u00a0 Click here for analysis on SILVER, GBPJPY<\/a><\/strong><\/p>\n\n\n\n

\"\"
Source: Interactive Brokers TWS<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

Gold (GC) is consolidating near ascending triangle resistance (on the 4hr and daily chart), and appears to be gearing up to retest upchannel resistance (on the weekly chart) ahead of the 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