Classic double top petern in gold sell the bounceAfter very good rally in gold, it's time for correction or profit booking Shortby MurtazaLokhandwala0
🔥GOLD TRADING STRATEGY TODAYGold rebounded at the end of last Friday, but the rebound did not reach the 2400 mark. The daily small positive star K line consolidated, rebounded again to confirm 2392, and then came under pressure and fluctuated downwards. Spot gold continued its sharp decline during the day. It is currently located near 2360 and plummeted by nearly 40 US dollars during the day. As market concerns about the escalation of conflicts in the Middle East have gradually cooled down, and rising U.S. Treasury yields have put pressure on U.S. dollar-denominated gold, once gold prices effectively fall below the 2350 area, this may open room for further declines. The continuous negative retracement for 4 hours in early trading appeared in the rebound of the downward trend, indicating that the rebound has temporarily come to an end and will seek support below. The daily structure has continued to close positive, and is currently trading near the 5-day moving average. The gold price is still in the upward channel, the MACD bull signal has been completely reduced, KDJ has a dead cross in the middle, and the overall indicator is weak. In the 4-hour chart, the Bollinger Bands are flat, and the overall trend remains within the high range. MACD is dead-crossing in the middle, the green energy column is gradually increasing, and KDJ is dead-crossing at the low level. The short-term lower support of the small cycle is in the 2350-2355 range, so intraday long positions can be carried out in this range. At the top, focus on the strong suppression points of 2392 and 2400. Since it is a volatile trend, you can also go short at high levels to see the downside after waiting for the rebound to end. On the whole, today's short-term operation of gold recommends mainly going long on callbacks, supplemented by shorting on rebounds. The upper part focuses on the 2392-2400 resistance range, and the lower part focuses on the 2350-2355 support range.by JackBlackwellUpdated 3
Gold will keep falling in the short termJudging from the 60-minute chart, gold has entered a downward trend in the short term. The candle line has fallen below the 200-day moving average, and the 20-day moving average has crossed below the 50-day moving average to form a dead cross. The price is expected to fall into the 2300-2319 range next, and can be sold after rebounding to the 2340-2350 range.Shortby winner-20000
Gold is currently uncertainGold fell below the 2370 resistance level today, reaching its lowest point near 2350, and also fell below the rising trend line on the chart. But this does not mean that gold is currently short. Although Israel and Iran have not taken actions to escalate the conflict, the conflict may escalate at any time. Moreover, the United States has provided tens of billions of dollars in financial assistance to Ukraine and Israel, and wars in Europe and the Middle East may escalate at any time. Therefore, we should be cautious when taking short positions at present. However, we also need to be cautious if we are too bullish, because gold has currently fallen below the two support levels of 2370 and 2360, and the price may continue to decline. Trading strategy: If the price rises to around 2375-2380, you can sell with a light position and stop loss at 2388. If the price breaks through 2380 and then falls back to 2370-2375, you can buy, and the stop loss is 2363. by winner-2000Updated 0
GIFT NIFTY:Looks bullish-Trendline b/outGIFT NIFTY: Likely to breach trend line resistance and if it breaches 22200 chances are higher for testing 22300 + soon(For educational purpose only)Longby CSB68Updated 3
Gold upcoming move 2364 area to watch closely.Gold is at 2341. Area to watch 2364. gold above 2355 will go 2365 2372 gold below2336 will go 2320 2311. plan accordingly. Support us by liking and sharing the post. by vikasvasusharma1
#Gold Update | April 2024 | MCX#Gold Update | April 2024 Timeframe: 4-hour Gold found support at 71220 and rebounded similarly to the previous week's low. Bullish sentiment prevails above 71630, while a bearish trend is anticipated below 71220. Stay tuned for a potential breakout.Longby Shalvisharma53
GOLD NEXT MOVE (still trend continuation ) (09-04-2024)Go through the analysis carefully, and do trade accordingly. Anup 'BIAS for the day (09-04-2024) Current price- 2353 "if Price stay above 2337, then next target is 2360 and 2372 and below that 2322. -POSSIBILITY-1 Wait (as geopolitical situation are worsening ) -POSSIBILITY-2 Wait (as geopolitical situation are worsening) Best of luck Never risk 2% of principal to follow any position. Support us by liking and sharing the post.Longby AnupZiddiUpdated 1158
XAUUSD Long near Bullish OB XAUUSD Long near Bullish OB XAUUSD near 1H TF Bullish OB zone Long Target 2390 2392 Longby mayureshk900
BUY GOLDThere will be a big buy move after the retest. Following the retest, I am looking to buy gold and am waiting for a confirmation within a shorter period of time.Longby Knickk0
Nifty Intraday Levels | 22-04-2024The Green line is marked for breakout The Red line is marked for breakdown The Black line is for the target on the upside stay tuned, if any levels occur will update in the comment section. by iamrk7Updated 0
15 resistance Trend line break 15 Minutes resistance Trend line break. So buy now low sl maintain.Longby Tamiltry2
Gold Prices React to US Treasury Rates Amid Middle East TensionsIntroduction: In the dynamic world of financial markets, gold prices experienced a slight dip recently, influenced by rising US Treasury rates and ongoing geopolitical tensions in the Middle East. As investors remain vigilant for any potential escalation in the crisis, the landscape of economic indicators and central bank sentiments also plays a crucial role in shaping market sentiments. Market Analysis: The recent movement in gold prices reflects the intricate interplay between various factors, including US Treasury rates, inflation concerns, and geopolitical uncertainties. The dollar-priced metal faced pressure as US Treasury rates edged higher, impacting its attractiveness as an investment option. Meanwhile, lingering worries about the Middle East crisis kept investors on edge, contributing to market volatility. In the backdrop of these developments, the Federal Reserve's latest poll of US central bankers highlighted persistent inflation and the prospect of higher interest rates as significant risks to financial stability. Chicago Federal Reserve President Austan Goolsbee noted a "stalled" progress in addressing inflation this year, signaling a shift in the central bank's stance towards interest rate adjustments. Key Economic Data: Amidst the market dynamics, attention is drawn towards key economic releases, notably Consumer Confidence data from the Euro Zone. This data point could offer insights into the economic sentiment across the region and potentially influence market movements. Technical Analysis: Technical indicators suggest that gold prices could find support at $2325, with resistance seen around $2380. Similarly, Gold MCX prices are anticipated to find support at 71050 and resistance at 73200. Action Plan: Considering the prevailing market conditions and technical outlook, a strategic approach would be to sell on a jump around $2365, targeting $2325, with a stop loss implemented above $2382. This approach aligns with the current market dynamics and offers a structured risk management strategy. Conclusion: In conclusion, the recent fluctuations in gold prices underscore the complex interplay of various factors, including geopolitical tensions, inflation concerns, and central bank policies. As market participants navigate through these uncertainties, staying informed and adopting a prudent approach to trading becomes paramount.Shortby rajeshtatineni850
Gold price dropped shockingly on the first day of the week!Hi everybody! As I am writing these lines, XAUUSD has seen a significant price drop, down $35 in the early hours of Monday morning and is currently sitting at around $2356. The short-term outlook suggests further downside is likely. Current chart analysis shows that gold is under downward pressure after overcoming two key support levels. This reflects the adjustment process after a week of strong price increases, when investors began to sell to take profits. If support at $2050 fails to hold, gold could continue to decline. However, on the positive side, gold still has a chance to recover. It will soon face resistance at the Fibonacci retracement point between 0.5 and 0.618, which coincides with the intersection of the 34 and 89 EMA. Gold needs a strong push to overcome this resistance if it wants to continue. continue the upward trend in prices. Regarding market forecasts, a recent survey of 14 Wall Street analysts showed a strong belief in the bullish prospects of gold: 72% of them predicted that gold prices will increase, 21% think prices will stabilize, and only 7% predict prices will decrease.by RKarina1144
XAUUSD 22 - 26 AprilGold price next week from 22 - 26 April We will need to see a close above 2410/2412 zone to further open the range above or a rejection will follow to find support at 2373. A cross and lock below 2373 will be a sign for a stronger retracement and I will update my chart with a different plan. The price of gold surged to a new high above 2400 as tensions in the Middle East escalated. The uncertainty surrounding the conflict led investors to seek the safety of gold, pushing prices up to 2431 zone. A close above 2410 zone will open the following targets as shown in the chart above. Price has maintained above the channel with our final long range target at 2440 still remaining. The extended levels 2450, 2472 and 2500 will only activate once we see a close above 2440. We will keep the above in mind when taking buys. Gold price maintains a stable increase in the H1 time frame. Along with Middle East military tensions, Gold price continues to have a huge upward momentum. Based on the resistance and support areas of the gold price according to the H1 frame, i identify the important key levels/zones at: Resistance: 2410, 2430, 2448 Support : 2373, 2310 Targets 2402 2422 I will keep you all updated with regular updates throughout the week. Don't forget to like, comment and follow to support me, i really appreciate it! I wish you a good week, trade with a stop loss and I hope you all get rich! Longby TheDutchGoldTradeHubUpdated 114
Update gold price at the beginning of the week!Hello everyone, let's explore the price movements of gold in the new week! At the beginning of the trading week, gold quickly adjusted downwards, losing nearly $23 in the first few hours of the Asian trading session. Currently, the price of gold is at $2369 and it is projected that in the short term, this metal may continue to decline after reaching the trendline and forming a descending triple top pattern. However, in the long term, gold still has an upward trend. The ongoing instability in the Middle East continues to drive the demand for gold as a safe haven asset to cope with political uncertainty. In terms of prospects and expectations for the week: This week, we should pay attention to economic data including new home sales figures for March released on Tuesday, durable goods orders for March on Wednesday, pending home sales, initial jobless claims, and preliminary Q1 GDP (including quarterly PCE) on Thursday, and March PCE on Friday. These will be crucial in determining the future movements of gold, so closely monitor them to stay updated on trading opportunities!by RKarina27
BTC Update I have opened long positions at 60k, 61k, 62k, and 63k. Now, I expect a slight dip to fill the CME gap. I am closing 50% of my position to book some profit and will add more if the price comes down. The prices I am looking to add long positions at are 64411 and 63501. There is no new CME gap formed between 64405 and 64495; it will fill sooner or later.Longby Rushilism0
Hindalcohas made good base around 600 level ready to move towards 640-650 levels .keep on radar by deepshah19821
Reliance Industries reliance well holding above breakout level of 2750from last 12 weeks consolidating in a narrow range of 3040-2850 . Tommorow are reliance result i dont think any big negative in results as we can see multiple reversal candal from 2850 level can cross 3050 and move towards next upside zone towards 3250 in next 2 -3 month .only to worry if breaks and closes below 2850 level with volume .by deepshah19822
Banknifty exactly take support at daily trend lineBankNifty found support precisely at the daily trend line, demonstrating the significance of price action. The decline in BankNifty was attributed to chart patterns rather than any impact from the Israel-Iran conflict.Longby biplab865
Gold bullish trade setup - April 20Gold bullish trade setup 2 scenarios If price breaks support, cancel bullish setup.Longby tina0001Updated 111
Island Top - Reversal Pattern, Rsi DivergenceIsland Reversal, A significant gap up, or sharply higher price at the open, follows an upward price trend, then reverses to a bearish price trend. Rsi divergence implies a change in relative strength as compared to price movement. The price has come out of the regression channel. Probably we are in the 4th wave, which means we have completed the top of the 3rd impulse wave. This would be confirmed if it closed below 21550 in the coming weeks. by OK_Rane7
🔥GOLD TREND ANALYSIS NEXT WEEKYesterday, the gold market saw a strong rise under the influence of the geopolitical situation in the Middle East, reaching a maximum of $2,417 in the morning, but then the price retreated and the gains were completely digested. It rebounded again to $2,401 in the evening and finally closed at $2,390, exactly in line with our expectations. The daily chart shows a long upper shadow Yang line, and the short-term indicators continue to decline, forming a deviation from the K-line development. Technically, further rise is not optimistic for the time being. At present, the geopolitical situation in the Middle East remains a key factor in the market. However, judging from the current situation, it is unlikely that another escalation or even a large-scale war will break out (because Iran does not want the situation to escalate). If the war situation is downgraded, the buying power of gold may weaken, and the market may fall into shock or start to retreat. Judging from the weekly chart, bulls are still in a strong state, but it should be noted that the bottom may be reached in the form of a pullback next week, and one should not blindly chase higher. Technically, the 4-hour chart of gold shows a double top pattern. If risk aversion appears next week and pushes prices up again, but fails to break through new highs, it may continue to fall, which will further confirm the top pattern. The daily closing line of gold has not stabilized above 2400, indicating that 2400 is still a solid resistance level. Market sentiment is likely to remain cautious, with investors closely monitoring geopolitical developments and economic data releases for cues on future gold price movements. If geopolitical tensions escalate or economic uncertainty increases, gold could see renewed buying interest. A break above 2400 could lead to further upside momentum, with potential targets around 2420 and 2450. Failure to hold above 2400 could trigger profit-taking and a pullback in gold prices. In this scenario, key support levels to watch include 2375 and 2350. A break below these levels could pave the way for a deeper correction towards 2320 and 2300. Traders should closely monitor key levels and geopolitical developments to assess the direction of gold prices next week. Additionally, maintaining a prudent risk management strategy is essential to navigate potential volatility in the market.by JackBlackwellUpdated 41