XAUUSD-H4 - 2020/05/10

SYM: XAUUSD-H4
Time: 2020/05/10 00:00:00 UTC
Trend Analysis

This analysis will be expired by taking place a week after this date or breaking the largest resistance, the smallest support or the long term trend.
• Trend’s Analysis

Term...............Trend
Short (STTL)...............Mid Bearish
Mid (MTTL)...............Mid Bullish
Long(LTTL)...............Mid Bullish

o The most recently confirmed Uptrend line in Long Term for XAUUSD_H4 is Mid Bullish-LTTL. It was made at 1566.79, 161 candles ago and confirmed at 1672.61,33 candles ago. A break below this trend line (particularly on heavy volume) would be a Bearish sign.
o The most recently confirmed Downtrend line in Long Term for XAUUSD_H4 is Mid Bearish-LTTL. It was made at 1745.48, 109 candles ago and confirmed at 1732.32,63 candles ago. A break below this trend line (particularly on heavy volume) would be a Bullish sign.
o The most recently confirmed Uptrend line in Mid Term for XAUUSD_H4 is Mid Bullish-MTTL. It was made at 1666.38, 80 candles ago and confirmed at 1672.08,33 candles ago. A break below this trend line (particularly on heavy volume) would be a Bearish sign.
o XAUUSD_H4 broke above the Strong Bearish-MTTL at 1710.45, 73 candles ago. This is a Bullish sign. The volume on the candle of the breakout was neither extremely heavy nor extremely light (7% above average). The previous Bearish Trend may now provide Downside Support. This Line played Support role at 1691.42, 51 candles ago and at 1670.73, 33 candles ago.
o The most recently confirmed Uptrend line in Short Term for XAUUSD_H4 is Mid Bullish-STTL. It was made at 1672.20, 32 candles ago and confirmed at 1684.35,12 candles ago. A break below this trend line (particularly on heavy volume) would be a Bearish sign.
o The current market condition for XAUUSD_H4 is: Bullish
• The close is currently above its 30 periods moving average. Prices broke below 30 periods moving average at 1695.94, 8 candles ago. This is a Bullish sign. The volume on the candle of the breakout was light (75% above average). This moving average line may now provide downside Support.
• The close is currently above its 90 periods moving average. Prices broke below 90 periods moving average at 1704.23, 6 candles ago. This is a bullish sign. The volume on the candle of the breakout was heavy (70% above average). This moving average line may now provide downside Support.
• The close is currently above its 200 periods moving average. Prices broke above 200 periods moving average at 1594.56, 194candles ago. This is a bullish sign. The volume on the candle of the breakout was Light (30%
Below average). This moving average line may now provide downside Support.

Supports and Resistance
Support ..................... Resistances
Price Power ................. Price Power
1701.09 Extremely Weak ................ 1734.47 Weak
1684.63 Mid ................ 1753.31 Weak
1666.38 Extremely Weak ................. 1781.20 Mid
1643.54 Very Weak ................. 1812.01 Very Weak
1618.39 Mid ................. 1892.04 Weak

Supports
o XAUUSD_H4 broke above the Upside Extremely Weak Resistance level of 1701.09, 7 candles ago. The previous Resistance level of 1701.09 may now provide downside Support. The volume on the candle of the breakout was heavy (73% above average).
o The most recently confirmed downside Mid Support level for XAUUSD_H4 is around 1684.63. XAUUSD_H4 broke above this level on 31 candles ago. This level is an Important for traders. We will expected that price has some difficulties to break down this level. Break below this level (particularly on heavy volume) is a Bearish sign.
o XAUUSD_H4 broke above the Upside Extremely Weak Resistance level of 1666.38, 122 candles ago. The previous Resistance level of 1666.38 may now provide downside Support. The volume on the candle of the breakout was light (17% below average).
o XAUUSD_H4 broke above the Upside Very Weak Resistance level of 1643.54, 139 candles ago. The previous Resistance level of 1643.54 may now provide downside Support. The volume on the candle of the breakout was so light (40% below average).
o The Second confirmed downside Mid Support level for XAUUSD_H4 is around 1618.39. We will expected that price has some difficulties to break down this level. Break below this level (particularly on heavy volume) is a Bearish sign.
• Resistances
o The most recently confirmed Upside Mid Resistance level for XAUUSD_H4 is around 1781.20, and we will expect that price has some difficulties to break up this level.
• Momentum Indicators
o Stochastic Oscillator
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 18.4792. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 the last signal was a Bearish, 2 candles ago.
o Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 48.14. This is not a topping or bottoming area. A Bullish or Bearish signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a Bearish 105 candles ago.
o Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 7. This is not a topping or bottoming area. The last signal was a Bearish, 2 candles ago.
o MACD
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a Bullish, 7 candles ago.


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This commentary is not a recommendation to buy or sell, but rather a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. Orbital accepts no liability whatsoever for any loss arising from any use of this analysis or its contents.
Technical IndicatorsSupport and ResistanceTrend Analysis

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