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...
Gold has possibly completed its complex correction in wave II and now it looks like wave III is unfolding, today it has given breakout from the down sloping resistance trendline, along with macd positive crossover and uptick in daily time frame, other indicators are also giving positive signs of uptrend at breakout point, as wave III unfolds, gold can possibly...
Hello Traders, here is the full analysis for this pair.
Watch strong action at the current levels for BUY. GOOD LUCK! Great BUY opportunity in GOLD .
I still did my best and this is the most likely count for me at the moment.
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one can long Gold as per their trade setup for swing trade if find reversal from these harmonic patterns PRZ.
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
As everyone is expecting gold to break alltime high $2075 before US presidential election, the chart says gold will slide & trade in the range of $1736-1802 (demand zone) before making any further move upside.
Long term demand zone $1560-1682
Fibo extension supply zone @2158-2460-2685
Expecting gold not to break $2075 within 3 months of time frame.