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Gold teases monthly support line following failures to cross $1,Gold trades defensive despite the US dollar gauge’s (DXY) slump to the fresh low since April 2018. The yellow metal’s repeated failures to cross $1,900, not to forget 61.8% Fibonacci retracement of November’s downfall, drag it to an upward sloping trend line from November 30, currently around $1,875. With the sluggish MACD and neutral RSI joining the lower high formation since December 21, gold is likely to retest the 200-SMA level of $1,852. Though, any further downside past-$1,852 will have multiple supports around $1,845 to tackle before directing the bullion bears toward the December 14 low near $1,818. Meanwhile, sustained trading beyond the 61.8% Fibonacci retracement level of $1,888 needs to break a short-term resistance line, at $1,897 now, as well as the $1,900 mark before challenging the monthly peak surrounding $1,907. If at all the gold buyers manage to cross $1,907, November’s peak near $1,966 will be in the spotlight. Overall, chatters surrounding the US stimulus and virus vaccine seem to keep the risks positive, which in turn can restrict gold’s short-term downside. However, challenges to the risks may recall US dollar buyers to weigh on the commodities.
OANDA:XAUUSD
by MTradingGlobal
WIPRO | RR 1:4 | Pre-Breakout===================================================== ⭕ Positional Trading Opportunity ! Daily Chart Alert !!! ⭕ --Buy above = 368 (Breakout) --Stop-loss = 355 --Target's = 400 | 420 --R:R = 1:4 --Pattern's = Triangle Pattern | Flag Pattern #ThankU For Checking Out My Content , I Hope U Liked IT 📌 ====================================================== ⭕ Technical Reasons to trade or Strategy applied :- ⭕ 1) Wait For Clear Entry 2) Watch Out For Volume After Pattern Breakout / At Breakout Candle 3) All IT Stock's & IT Index Is In Uptrend , Stock Is Trading Above 200DMA 4) Overall Stock looking Bullish... 📈(Risk Must Be Managed.) 🙄Keep Your Eyes On Index ====================================================== Guys Check Out MY Related Ideas As Well, You Will Found Them Really Useful, GUARANTEED ! 🙏FOLLOW for more ! 👍LIKE if you found it useful ! ✍COMMENT Below your view ! ----------Any Suggestions----------
NSE:WIPROLong
by CT143
6
GODREJ PROPERTIES(Swing / Positional Trade) | RR 1:2+ | Type:- S&R Reasons To Trade🤔 :- In Weekly Uptrend, Closed Above 200 DMA, Formed Bullish Candle On Support, (Consolidating) It Can Break Upside. Entry :- 865 - 870 Stop Loss :- 828 Target :- 940 (If It Directly Breaks out Above Resistance, Then You Can Hold It More) Because It Is Consolidating Heavily In Weekly Chart. (Risk Must Be Managed.) Keep Your Eyes On Index 😜Follow For More ✔ Give Me A Thumbs Up...👍 --Any Suggestions--
NSE:GODREJPROPLong
by CT143