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Silver ( XAGUSD )My idea to trade silver as sell on rallies As the fundamental on Silver is not improving economic activities are slow . A very important to be taken note of Silver is a industrial utility the demand and supply need to focus on and this has a major impact on the fundamentals of silver . Till the time we are seeing EUR going down and rates keep on increasing this will not make this improving in near future .Ema will be acting as a resistance and if we break above ema then we can see some changes in the trend till the time we are in down trend and will be continued .
MCX:SILVER1!Short
by palkeshjain06
Gold bears approach key support ahead of US GDPGold sellers cheer firmer US dollar and a sustained break of the three-month-old ascending trend line at the lowest levels in nine weeks ahead of the key US Q1 2022 GDP data. However, a convergence of the 100-DMA and 61.8% Fibonacci retracement (Fibo.) level of December 2021 to March 2022 upside, surrounding $1,875, appears a tough nut to crack for the metal bears. Also acting as a downside filter is January’s high of $1,853 and 78.6% Fibo. level near $1,819, a break of which will make the bullion vulnerable to drop towards the sub-$1,800 region. On the flip side, recovery remains elusive below the 50% Fibonacci retracement level around $1,910. Following that, the 50-DMA and previous support line will challenge the gold buyers at around $1,938 and $1,943 respectively. Even if the metal prices rally beyond $1,943, a two-month-old horizontal area between $1,975 and $1,982 will be a tough challenge. Overall, gold bears have the controls but need validation from strong support to dominate further.
OANDA:XAUUSD
by MTradingGlobal
Gold seesaws inside fortnight-old triangle, focus on $1,878Gold prices have been in a choppy range between $1,915 and $1,950 since the start of April. In doing so, the metal observes a short-term triangle formation, suggesting a further sideways grind. However, sustained trading below the 200-SMA and sluggish oscillators keep sellers hopeful. That said, a clear downside break of the stated triangle’s support, around $1,920 by the press time, becomes necessary for fresh selling. Following that, a downward trajectory towards horizontal support from mid-February, near $1,878, will become imminent to appear on the chart. Though, the $1,900 threshold may offer an intermediate halt while February 15’s swing low surrounding $1,844 could challenge the bears afterward. Alternatively, recovery moves remain elusive until the bullion stays below the $1,939-40 resistance confluence, comprising 200-SMA and the resistance line of the two-week-long triangle. Even if the gold buyers manage to cross the $1,940 hurdle, the late March swing high near $1,966 and February’s high of $1,977 will act as validation points for a run-up targeting the $2,000 psychological magnet. Also challenging the quote is March 10’s high near $2,010, a break of which will give control to the bulls.
OANDA:XAUUSDShort
by MTradingGlobal
Gold buyers struggle inside rising wedge on Fed dayWhile a year-long resistance line has been testing gold buyers for one week, a six-week-old rising wedge bearish chart pattern teases sellers as markets brace for the Fed’s verdict. Given the sluggish RSI and receding bullish bias of the MACD, bears await a downside break of the $1,828 mark, comprising 50-SMA and 61.8% Fibonacci retracement of November-December downside. Following that, the lower line of the stated wedge near $1,816 becomes crucial as it holds the key to a slump towards September’s low near $1,721. During the fall, the 200-SMA level of $1,806 and $1,760 may offer intermediate halts. Alternatively, an upside break of $1,848 will lure buyers but an upper line of the wedge, around $1,851, may test the run-up towards the $1,900 threshold. Also acting as upside filters are the tops marked in November and March months of 2021, respectively around $1,877 and $1,916. On a fundamental side, the Fed is widely anticipated to hint for March rate hikes and balance-sheet normalization amid inflation fears. That said, a slight disappointment is enough for gold to rally towards $1,900 but the bears are so far trying to battle bulls amid hawkish hopes. Hence, it’s better to wait for the actual outcome.
OANDA:XAUUSDShort
by MTradingGlobal
Gold braces for a bumpy road to $1,877Gold buyers cheer a clear break of the 23.6% Fibonacci retracement (Fibo.) of August-November 2021, backed by a firmer oscillator, to brace for November’s peak of $1,877. However, multiple lows marked during mid-November around $1,850 will challenge immediate upside. Following that, the upper line of a five-week-old ascending trend channel, near $1,856, will act as an extra filter to the north. It’s worth observing that the metal’s upside past $1,877 will be tested by the RSI conditions, if not then the $1,900 threshold will welcome the bulls. On the contrary, pullback moves remain elusive beyond the 23.6% Fibo. level of $1,830, a break of which will direct gold sellers to the 200-DMA level of $1,804. It should be noted, however, that the key moving average’s failures to defend the gold buyers will have another chance in the form of the stated channel’s support line, at $1,798, breaking of which won’t hesitate to open the door for sellers targeting December’s bottom surrounding $1,753.
OANDA:XAUUSDLong
by MTradingGlobal
Gold stays directed towards $1,760 ahead of US NFPHaving reversed from early November’s swing high, gold broke the key support around $1,795 comprising 200-SMA and a 13-day-old ascending trend line. The downside move gains support from bearish MACD signal to direct gold bears towards a two-month-old horizontal region surrounding $1,760. However, RSI does approach the oversold territory and can trigger intermediate bounces off $1,780. It’s worth noting that gold’s selling past $1,760 won’t hesitate to refresh December lows around $1,751. Alternatively, a corrective pullback beyond $1,795, will need validation from the $1,800 threshold to rise further. Further, $1,820 and the monthly peak surrounding $1,832 can test the bulls. Additionally, tops marked in July and September 2021 near $1,834 will precede the $1,850 round figure to challenge the metal’s further upside ahead of pushing bulls towards November’s peak of $1,877. Overall, gold sellers have sneaked in before the key US data but it all depends upon how well the US Nonfarm Payrolls (NFP) justify hawkish hopes raised by FOMC Minutes.
OANDA:XAUUSD
by MTradingGlobal
Gold bears eye $1,764 on fortnight-old support breakAfter multiple failed attempts to settle beyond the 200-SMA, gold prices conquered a two-week-long ascending support line. The bearish impulse takes clues from downbeat MACD signals and a slump in the RSI line. This helps the gold bears to aim for the area comprising multiple supports marked since November, around $1,764. It should be noted, however, that $1,784 may work as an immediate rest-point after the fast selling. In a case where gold bears dominate past $1,764, the monthly low near $1,751 and 61.8% Fibonacci Expansion (FE) of November-December moves, around 1,742, will be on the charts. Meanwhile, corrective pullback may aim for the $1,800 threshold before targeting again for the 200-SMA level of $1,805. Even if the gold bulls retake $1,805, the support-turned-resistance line mentioned above, close to $1,815, will be a crucial hurdle for the traders to watch before turning optimistic on the metal. Following that, double tops of July and September near $1,834 will be in focus. To sum up, gold sellers are finally in but the year-end sluggishness may restrict the quick moves.
OANDA:XAUUSDShort
by MTradingGlobal
Gold bulls are on test seats below $1,800Gold pierces the key horizontal resistance established in late June during a five-day consolidation of the August 08 fall. However, the RSI remains normal and MACD flashes bearish signals, which in turn probe the rebound. Even if the quote crosses the $1,790 hurdle on a daily closing basis, 50-DMA and a descending resistance line from June 01, respectively around $1,800 and $1,815, will challenge the gold buyers. If at all the bullion remains firm past $1,815, the monthly high near $1,831 should return to the charts. Meanwhile, a daily closing beneath the $1,790 will redirect gold sellers to $1,760 and the late June’s low near $1,750. In a case where gold bears keep reins below $1,750, the $1,715 and the $1,700 round figure will be important ahead of the yearly bottom surrounding $1,676. Overall, gold bears remain hopeful unless the quote regains above $1,815. It should be noted that today's US Retail Sales becomes the key event of the week , acting as an extra filter for gold's upside momentum.
OANDA:XAUUSD
by MTradingGlobal
Gold sellers look for conviction ahead of US NFPAfter breaking an ascending support line from late June, now resistance, gold bears battle 200-HMA amid cautious market sentiment ahead of the US Nonfarm Payrolls (NFP) data. It’s worth noting that the sluggish MACD and downbeat RSI adds to the trading filters. Even so, hawkish expectations from the data may firm the tapering woes and back gold sellers should they manage to conquer the immediate support of $1,799. It’s worth noting that the 23.6% Fibonacci retracement will raise bars for the commodity’s further downside near $1,789, a break of which will recall $1,765 and $1,750 to the chart. It’s worth noting that a negative surprise, followed by a sustained run-up beyond the support-turned-resistance near $1,805, will aim for the triple tops around 50% Fibonacci retracement level, close to $1,834. In a case where the gold buyers manage to cross $1,834, the mid-June’s swing high, close to $1,869, as well as the $1,900 round figure, will be on their radars.
OANDA:XAUUSDShort
by MTradingGlobal
Gold buyers stay hopeful on inverse head-and-shouldersWith the US dollar easing ahead of the Fed and bond bears are also catching a breather, gold heads to the key upside hurdle on the four-hour chart. That said, the yellow metal portrays an “inverse head-and-shoulders” bullish chart pattern that seeks confirmation from the neckline breakout, currently around $1,741. While a sustained break of $1,741 theoretically propels the quote to cross the $1,800 hurdle to the north, a downward sloping trend line from the early February and 200-SMA, respectively around $1,755 and $1,781, adds to the upside filters. Meanwhile, a pullback from the current levels, which is more likely amid the pre-Fed trading lull, will eye to revisit the $1,700 threshold. However, any further weakness may not hesitate to challenge $1,687 and the recently flashed multi-day bottom surrounding $1,677. To sum up, gold buyers are looking for a comeback after heavy losses since early 2021. Though, the US Federal Reserve meeting, up for Wednesday, holds the key to the metal’s further recovery.
OANDA:XAUUSDLong
by MTradingGlobal