1804.23 is major support; while this level is not broken, the Midterm wave will be uptrend.
The RSI resistance #1 at 62 is broken, so the probability of continuation of uptrend is increased.
While the RSI uptrend #2 is not broken, a bullish wave in price would continue.
A peak is formed in the daily chart at 1877.05 on...
1. Major Support - 46870.
Resistance - 50000, 52500, 56000.
2. Past Trend - Up. In correction since last one year and has successfully broken last one year old trend line.
3. Strength - Is showing strength in up and is likely to break 50000.
4. Future trend - Break of 50000 and up trend continuation to 56000.
5. Trade Setups -
a. Buy - above...
From 1150 level back in August 2018, Gold rallied up to 2075 highs in August 2020. After that peak it corrected to 1860 in March 2021. 1860 became the short term bottom for the price as price found support there twice in March. Later in August and September price found support twice in the 1730 zone as marked on the chart. The bullish flag pattern would remain...
Descending parallel channel pattern breakout along with good intensity of volume,
along with rsi breakout and directing towards north.
Just to learn or educational purpose
One can go long at breakout with stop loss of breakout candle's low which is pegged at 46854
for targets of 47569, 48111, 48808, and 49558.
This is just a learning purpose...
Gold-Fuure scheitert heute am Septemberhoch. Die Aussichten für die nächste Woche sind negativ. Abwärtspotential bis $1750 ist möglich. Erst über $1820 sehe ich den Goldpreis wieder positiv. www.kagels-trading.de
Hi everyone. I usually trade with the trend but for the first time I'm Shorting in an uptrend To experience the Rising wedge pattern. I have taken a risk reward ratio of almost 10 so even if it hits SL no regrets. BTW SL is just above the previous swing high and Target is previous Support 2.
From a technical perspective, repeated failures near the $1,810-12 resistance zone and the subsequent fall on Friday suggests that the recent positive move has run out of steam. This might have already set the stage for a slide towards testing the $1,762 support area. The corrective pullback from multi-week tops could further get extended towards October monthly...
Comparing Dollar Index and Gold movement, we can understand that Dollar is expected to make 1 more leg Up to complete (5) in Blue so as to make ((C)) in black. Once it make that GOLD should make downward move and find support @ 1600 by that time Dollar would have completed Wave II in Red and will start pulling back to make Wave III in REd during this time GOLD...
gold corection was ended at 0.618 fibonacci
its clear that gold will go long after the breakout of the triangle
any close above 1800 it will go to 1876 and 1905
wait for the candle close above 1800 at least h1 candle
Gold extends the previous day’s bounce off an ascending support line from August towards 200-DMA amid a sluggish Asian session on Thursday. The yellow metal needs to provide a daily closing beyond $1,792 to direct buyers towards October’s peak of $1,814. However, any further upside moves will be challenged by a horizontal area comprising highs marked since July...
Gold Dec Long
RSI Divergence at support at rounding bottom pattern with 100 Day and 200 Day EMA
Buy at CMP- 47680
Target- 47920, 48030, 48154
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Gold’s pullback from the yearly resistance gains supports from RSI retreat, suggesting further weakness in prices. However, a horizontal resistance-turned-support stretched from July, around $1,834, becomes the key hurdle for the sellers. Should the commodity prices drop below $1,834, October’s peak of $1,813 may offer an intermediate halt before directing the...