15.60 is a major support, while this level is not broken, the Midterm wave will be uptrend.
The RSI bounced from the support #1 at 48 and it prevented price from more losses.
A trough is formed in daily chart at 14.89 on 07/05/2019, so more gains to resistance(s) 16.20, 17.20, 18.10 and more heights is expected.
SPOT GOLD IN BUY ZONE, Bearish below 1422 with 1406 and 13921 as price target, Bullish over 1422 with 1437.5 and 1453.25 as price target, if you like our view please share with your friends and relative who trade
Triangle pattern observed in Gold. Pattern looks to be valid and the target comes at 1477.
1438 and 1382 are the trend defining levels and so conservatively, longs can be initiate beyond 1438.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas....
Descending triangle pattern spotted in Gold,suggesting bearish bias. Though the base of the pattern falls on 1403, immediately below is round number 1400. Hence it is advised to initiate short only if price closes below 1400 with stop above the falling trendline and target at 1380. Manage to book some profit at 1388 if price traverse through our predicted...
On the back of Crude inventories data released by American Petroleum Institute(API), according to which inventories fell less than expected, the commodity declined sharply citing lower demand. For further confirmation of the same one can watch crude inventories data about to be released by US government's Energy Information Administration (EIA) at 20:00 Hrs IST....
The price is being consolidated between the Trend line (Yellow) and the support line (Green) , we can expect the price to break the trend line along with the immediate resistance line in next price swing ($ 60.68 )
a long position can be taken once the price breaks out of the Trend line and target and stop loss shall be as indicated in the chart