Price rejecting from the trend line, If breaks the trend line then it will reject from 41.30, if breaks this level then we can expect long . . .
Gold Respect to its Support Level Chances to go more High Ever.
Every Rise is a Sell Channel marked in Blue..... Resistances in Red..... Support in Green.......... Like .............. Follow.... Share...........
Price swings within the channel beautifully. It looks easy now but catching this pattern and taking trades at the right time will need some good experience in pattern trading.
The sideways action in GOLD is not a Wave 4 triangle as assumed earlier. A Wave 4 triangle should have resulted in a swift move up, this has not been the case. This is turning out to be a Wave B triangle , so a Wave C to the downside is the next expected move.
The daily right side is up against 8/16/2018 low at 1159. The 4 hour right side is up against 1668. While below 1973 where the hourly is turning down Gold can correct the cycle up from the March lows. SELL GOLD @1870-75 TP: 1848-40 SL: 1890 GOOD LUCK
Crude levels...25/09/2020 (1hr Candle)
#MCXCRUDE should head down below recent lows in wave C as part of the correction following the break out from the ending diagonal.
Last week has seen tremendous downfall in the global markets with the COVID-19 vaacine no where to be seen. Major markets reacted to supposedly possible "LOCKDOWN 2.0" in many other parts of the world. In India, We have seen NIFTY react and fall below 11400 & Bank Nifty make huge falls in the last few trading session. Investors weary with the major markets...
Giving you an idea into how i used instituional order flow to predict exact point where price reached. To all those who commented saying retail is gonna help, no amount of trendlines or macd rsi will help you predict with this precision
Silver testing Fibo levels again, Last was support taken on 12th Aug.
Gold can take support at $1750/oz which approx 43K-44K/10 gram of gold in India. As the dollar is increasing due stimulus provided by Central Bank in US. If you are planning to buy Gold you can start buying but wait for the above level to complete your buying.
Silver seems to be completed wave B of the correction and sported wave 1 of C. Silver should accelerate to 23 soon
Silver seems to have completed its wave 4 correction, Wave C (circle) being slightly greater than Wave A (circle). This means Silver should rally to new highs in the near future.