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Gold Price Predictions for 2022In the previous trading session, MCX Gold made a high of 51538 and closed at 51343 ( +444 ). A question is, is it moving upward? To identify uptrend: There are two hurdles to continuing the uptrend. It should break out the 5th May high or settle above the control line. According to the above chart, Gold is forming a bullish flag pattern. And we're waiting for a breakout of the flag pattern. This breakout will skyrocket the gold price, and we can see 6400+ points of bullish movement here. Long-term target for gold 58000 - 60000 . Gold downtrend confirmation: But if gold breaks the support trendline (invalidation), then a downtrend may start. And if it happens, I will update you asap. At present, intraday traders can keep buying for targets of 51500 - 51800+ levels. Watch significant releases or events that may affect the movement of gold, silver, and crude oil. Monday, May 09, 2022 04:30 FOMC Member Bostic Speaks - Medium Impact 11:00 Investing.com Gold Index - Medium Impact 18:15 FOMC Member Bostic Speaks - Medium Impact Tuesday, May 10, 2022 17:10 FOMC Member Williams Speaks - Medium Impact 18:00 FOMC Member Bostic Speaks - Medium Impact 21:30 EIA Short-Term Energy Outlook - High Impact Wednesday, May 11, 2022 00:30 FOMC Member Mester Speaks - Medium Impact 02:00 API Weekly Crude Oil Stock - Medium Impact 04:30 FOMC Member Bostic Speaks - Medium Impact 18:00 Core CPI (MoM) (Apr) - Medium Impact 20:00 Crude Oil Inventories - High Impact 22:31 10-Year Note Auction - Low Impact 23:30 Federal Budget Balance (Apr) - Low Impact Thursday, May 12, 2022 10:30 Natural Gas Storage - Low Impact 13:30 IEA Monthly Report - Medium Impact Friday, May 13, 2022 08:30 Import/Export Price Index (MoM) - Low Impact 11:00 FOMC Member Kashkari - Medium Impact 12:00 FOMC Member Mester Speaks - Medium Impact 13:00 U.S. Baker Hughes Oil Rig Count - Medium Impact
MCX:GOLD1!Long
by forextidings
5
UPDATE: When Will MCX Gold explode? [Profit - INR 210000]As expected, gold has started collapsing after a breakout of the test level. Will it keep falling? First, click here and read the previous article on gold: When Will MCX Gold explode? I have written in clear words, " If gold remains below 47296 levels, it will come down to 0.618 value of Fib retracement. Targets: 46600 – 46000 – 45660 – 45200 ". Gold has touched the first two targets by making a low of 45861. Profit per lot Rs.2,10,000 Anyway, what next? Gold can take a U-turn from here. This can be up to 46760 levels. Overall, it's under a downtrend.
MCX:GOLD1!Short
by freestocktips
Determining the MCX Gold Price Next Big Move According to this chart, gold has started falling from August month. Doji appearing in the last trading session. It's signaling a possible reversal. If gold follows the dynamic resistance, we may see a continuous downtrend. That can be up to 0.5 ( 47300 ) to 0.618 ( 45200 ) of Fib retracement. Fib retracement: Swing High: 56191 Swing Low: 38400 Here's ADX less than 25 , and +DI is above the -DI. Additionally, 200 MA & 50 MA is throwing uptrend signals. If we follow the moving average, gold may try to hit 51000 - 51990 ( 0.236 ) levels. Intraday traders should watch dynamic resistance before entering.
MCX:GOLD1!
by freestocktips
1
Can We Expect GOLD Price Above 56000 again?According to this chart, gold is reversing downward after making an all-time new high of 56191 . Its support level is 53800 . You can take this level as a hurdle too. We may see a correction up to this after the breakdown of DR. This dynamic resistance will initiate buying pressure for a short period. We have chances to see 55600 (T1) to 56000+ (T2) levels. Moreover, for short-term investors, I don't recommend selling the gold until the breakout of my support. Intraday traders can enjoy price fluctuation, consolidation, and sideways movement.
MCX:GOLD1!
by freestocktips