Sudut Bacaan

Taper tantrum? It is hard to call a marginal decline in stocks as an outright "tantrum" but fears that the Federal Reserve would reduce bond buys sooner than later are seeping in. On this background, gold is retreating from the highs reached in its comeback on Friday. Fed Chair Powell could signal the bank's next moves in a speech on Tuesday, and until then, technicals could have the upper hand.

How is XAU/USD positioned on the charts?

The Technical Confluences Detector is showing that XAU/USD is capped at $1,776, which is the convergence of the Simple Moving Average 10-15m, the 10-day SMA, the Bollinger Band 15min-Middle and the Pivot Point one-month Support 1. 

Another strong resistance line awaits at $1,792, which is the meeting point between the all-important Fibonacci 61.8% one-month and the BB one-day Middle. 

Looking down, gold only has weak support of $1,770, which is the confluence of the SMA 10-4h and the Fibonacci 38.2% one-day. 

A somewhat more significant cushion awaits at $1,766, which is a juncture including the SMA 200-1h and the previous month's low. Nevertheless, these support lines are weaker than the resistance levels mentioned above. 

All in all, the path of least resistance is down.

Confluence Detector

The Confluence Detector finds exciting opportunities using Technical Confluences. The TC is a tool to locate and point out those price levels where there is a congestion of indicators, moving averages, Fibonacci levels, Pivot Points, etc. Knowing where these congestion points are located is very useful for the trader, and can be used as a basis for different strategies.

17/8/2021
CREDIT : https://www.fxstreet.com/news/gold-price-analysis-xau-usd-trades-on-shaky-ground-as-support-looks-weak-confluence-detector-202108161206

SINGAPURA: Harga emas merosot apabila pelabur mengambil kira isyarat selanjutnya pemulihan ekonomi, dengan yang terkini adalah data pekerjaan Amerika Syarikat (AS) lebih baik daripada jangkaan.

Majikan di AS menambah bilangan pekerjaan paling banyak dalam tempoh tujuh bulan pada Mac, di tengah-tengah pelaksanaan vaksinasi COVID-19 dan pelonggaran sekatan perniagaan.

Pekerjaan bukan ladang meningkat sebanyak 916,000 berbanding Februari, demikian menurut Jabatan Buruh.

Peniaga komoditi turut memerhatikan perkembangan cadangan perbelanjaan infrastruktur AS$2,25 trilion Presiden Joe Biden.

Republikan, yang bimbang cukai akan dinaikkan bagi membiayainya berkata, mereka akan menyokong pelan yang lebih kecil.

Dagangan emas lengang pada Isnin apabila pasaran di kebanyakan Eropah, Australia, China dan Hong Kong ditutup sempena cuti umum.

Logam berharga itu mencatatkan penurunan suku tahunan pertama sejak 2018 dalam tiga bulan pertama 2021, apabila pulangan bon AS meningkat di tengah-tengah keyakinan terhadap pemulihan ekonomi pasca pandemik.

Ia menyebabkan pelabur kurang berminat dengan logam berharga itu.

Pegangan dalam dana tukaran sokongan emas susut ke paras terendah sejak Mei, manakala dana lindung nilai menurunkan pertaruhan bulis bersih emas ke paras terendah dalam tiga minggu pada minggu lalu.

"Harga emas dijangka berdepan kesukaran untuk meningkat, ekonomi global sedang pulih dengan pantas," kata ahli ekonomi di Oversea-Chinese Banking Corp, Howie Lee.

Spot emas jatuh 0.2 peratus kepada 1,726.29 seauns pada jam 9.45 pagi di London.

Perak, palladium dan platinum semuanya merosot.

Indeks Spot Dolar Bloomberg menokok 0.2 peratus dan Goldman Sachs Group Inc meletakkan saranan singkat terhadap mata wang itu.

-Bloomberg

CREDIT : BERITA HARIAN