Gold is a strong buy at 1900-2000 accumulate slowly as it wll give time to buy for another 1-3 month.
New high above 2100 wll blast for atleast 50-80% move in no time.
Watch very closely
Silver fut are on verge of triangle breakout , it would be a multi year breakout
If it would be forming W pattern as well.
Trade Setup - possible entry, SL and target mentioned on charts
Happy Trading
After falling silver has again formed W pattern this W pattern can again bring in some bears
Following are the zones where we can expect the entry of bears
Did you read the 26 Jan 2021 article on Gold?
Article: Don't Get Yourself Into a Bull Trap With MCX Gold
Wherein I have highlighted a strong resistance (SR) which is 49280 . It has broken down on 14 Feb 2022. That indicates the MCX gold uptrend is unfolding here. If it consecutively remains above the SR, we will see the gold price above 51160 - 51740 .
The...
Despite reversing from an eight-month high, gold prices recently crossed the stated key resistance, also rallied beyond June 2021 peak. Additionally, favoring gold buyers is the metal’s ability to stay above the previous double-tops, as well as a three-week-old support line, amid bullish MACD signals. However, the RSI pullback from the overbought territory may...
Considering running flat on higher degree & the previous diagonal as an ending diagonal , crude can be considered in 5th wave of higher degree. One should go long on current levels with SL of 91$ & look for the target of the 97$ and 99$-99.7$
This is my view on crudeoil for today, best possible reversal zones, above this top reversal point is buy zone can keep just 15-20 points SL.
Im not advisor or tip provider, this purely educational purpose only.
Crudeoil has been on a tear making new highs in the last few weeks . All this may have ended in a wave 5 of 5 and a major turn seems to have begun. The downmove from the Feb 15th high is clearly a diagonal wave A ( or wave 1) , a correction in wave B ( or wave 2) has completed a few hours back.
As long as the 94.95 high holds , look for an accelerated move at a...
Trading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (1902.4).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. XAUUSD is in a range bound, and the beginning of a downtrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
LEADING DIAGONAL: In a leading diagonal , waves 1,3, and 5 are all impulsive in nature or all in corrective form of zigzags. Wave 2 and wave 4 are always present in a zigzag form. A leading diagonal suggests the starting of a new wave & that is why it can develop wave 1 of a impulse wave and a first wave of a zigzag pattern.
Either a larger correction of higher...
After three consecutive weeks of upside, silver had a sober start to the current week as it marked the first negative daily closing in four. However, the latest anti-risk headlines, mainly concerning odds over the Russian invasion of Ukraine, help XAG/USD to refresh its monthly high. Also, the bright metal remains above a 13-day-old support line amid firmer RSI...
