DrAnandM

DrAnandM

As Mentioned in the comments section of the last post. 2055 has been capitalised by Bears. So it is still Too Early to Write off the Bears. Even FOMC, like most of the times has failed to give directions. NFP could finally provide clearer Directions hopefully. Until then, Expecting a Rangebound Movement Between 2053 zone & 2021 zone.

DrAnandM

Felt the need to update. Despite a Strong JOLTs data, Gold has still managed to Give a Closing 1. Outside of the Downtrend Line 2.Very much close to The Uptrend line that it had broken recently. This could be owing to the Increasing Tensions in the Middle East Being priced in. Now Fomc could decide the final direction of the Trend. Going by the data released...

DrAnandM

Bears are fairly in control of the Trend as of this weekend.. With FOMC coming up, Either of the 2 Zones 1980 or 2080 could be tested.. Technically 2030 2035 is the Crucial zone.. If Respected, 1980 zone is likely to be tested. If Broken, 2055 could be tested before Last attempt by Bears to claw their way back. Above 2065, Bulls will Toss The Shorts for a...

DrAnandM

Gold Showed decent buying from 2000 zone in last 2 days of the week as Gold closed just within the Larger timeframe Uptrend line showing sharp V shaped recovery after the breakdown that happened Mid-week. The last 2 days of the week show that there could be some more upside till 2050 2055 before Bears re-enter. 2055 on upside And 2015 on Downside are the...

DrAnandM

Despite the Strong Break Down of the Trend Line, Gold as of the time of Publication has not shown follow-up Selling.. 2025 2030 is the Value area for Shorts to re enter if they are to. If Bears Fail to capitalise this opportunity, in that case 2045 zone could be tested.. More Bullishness Only above 2045 Bearishness Could Intensify Below 2005, in that case...

DrAnandM

Previous Week Bulls showed resilience. Coming week or two could be decisive in deciding the Direction for Gold. 2030 2025 will act as crucial level for follow up buying, if there has to be any. Failing which, Bears might start to strengthen their Grip again, bringing more bearishness below the Trend zone, around 2020, in which case 2000 1980 could be...

DrAnandM

OANDA:XAUUSD If Looked at Closely, The Trend Zone has been tested and decent buying is evident. Bearishness will fade above 2050 In that case 2065 2075 2090 and eventually 2100 might open up 2005, Only below this trend zone some more Bearishness is possible in which case 2000 1995 1980 could be tested. So in Summary 2050 2005 Are the levels If Gold...

DrAnandM

Gold happens to Remain in Up Trend, however the Exhaustion is becoming apparent. Mark the Trend Line. Trending move on either side break and sustain is possible. Either of the Supply/Demand Zones could be tested. Looking at the weakness 2000 1980 are possible zones that could be tested in coming sessions. However, Keep watch on the trendline break. And...