GOLD has broken downtrend. Ready to rally!GOLD has broken its long sustained downtrend on a daily chart. It has also crosses and sustained a strong support level of 1850. Good upside possible from here.
Goldforecast
Time to Buy gold? Gold in Technical has been respecting trendline and resistance on weekly.
We should see a surge upwards if it sees a losing above the rectangle zone/trendline.
Gold is yet 20% from the ATH.
Global economics should give an early sign for gold price to go up
Disclaimer - Just my View and not an advice
#Gold
#XAU
#Bullion
Gold battle between buyers and sellersFor the past two trading weeks gold was trading within confined range and unable to break on either side 1795,1760 was acting as strong barrier.Kindly watch the break out/down for potential buy/sell Upper side target would be 1815 and on downside immediate target would be 1750.
GOLD APRIL DAILY CHARTAlthough there has been a good breakout from 1750 levels still it could face Resistance around 1800-1850 levels. Crossing 1800-1850 it may get into its long term uptrend direction.
GOLD Medium term ViewAs anticipated previously Spot gold failed to break is major resistance around 1750 -1760 and fallen sharply from there.
Gold prices are now likely to test 9th March 2021 Lowes which is $1676
On the daily chart currently gold prices are trading in a downward sloping channel. If 1676 dollar is breached a test of the test of channel lower level is possible approx $1649
Also this week closing will be imp as we are trading close to 61.8 fibonacci retracement level of $1688
GOLD "BOTTOM OUT" ???1. Gold took support from key support level.
2. Formed tweezer bottom.
3. Also taking .382% fibonacci support.
Buy Gold With Strict SL Of 1670$, Closing Price 1726$
#gold #commodity #mcx # 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.
1670-1690 is a strong buy zoneWhy am I so confident of 1670-90 zone..,
the same zone gave support 5 times earlier and it is the 6th visit to same zone..,
It is the zone from where 400 dollar or 25 percent upside rally started..,
And it is the zone of inverted head and shoulder breakout,,
Expected Road map - 1680-1758 - 1698 - 1815- 1768 - 1868 (channel top)
Buy the dips and keep accumulating..,
Stop on closure below 1670.., Below 1670.., 1530-60 zone possible..,
GOLD TRADE SET UP ( TGT 50,000 )HELLO FRIENDS,
HERE IS GOLD TRADE SET UP AS PER HARMONIC PATTERN GOLD BUY NEAR 46500 TO 47000 LEVEL WITH SL OF 46985 FOR THE TGT OF 50,000/-
HAPPY TRADING FRIENDS
Will Gold Bounce From Current Price Of 46700 ??Sine Line Suggesting Gold Is Making Bottom. 44650 Is Major Support.
Gold futuresprice is at crucial horizontal support which is also the base of the triangle pattern. breakout is expected.
Gold Getting Ready For New Life Time High ???Buy Gold On Dips With Strict SL Of 48600 (Weekly Closing Basis) For Target Of 56000
GOLD "BOTTOMED OUT" - JACKPOT TRADEGold took support from Daily 200 Day Moving Average
BUY GOLD ABOVE 48700, Day Closing Above This Level Will Make View Solid, Strict SL - 47500 (DCB), Target - 50300/51000
GOLD "BIG GAINS"I dont know what to say, please see my all posts of gold, Gold sell call given at 52320 with sl of 52550 which was ascending channels high when i posted the chart previously, it made high of 52520 and touched the lower level of channel, infact it tried to make low around the level where the channel actually started, which was the final target of ascending channels breakdown. BOOM..
Gold Touching Ascending Channel TopGold is about to touch ascending channels high, This is the place to lookout for sell for a fall or to buy again above breaking of ascending channel. Stay Alert. Will Update. All The Targets To The Previous Call In Gold Has Achieved.
Gold Spot vs MCX Gold - Weekly Reports & TipsHere I have compared Gold Spot (CFD) with Indian MCX Gold to identify this week's trend.
In the chart, there are two different support levels. Wherein support level 1860 is for gold spot, and 49260 for the MCX gold.
I have used moving average and volume on Indian gold. At present, 50 MA is turning downside. If it breaks the parallel channel (PC), gold will fall for 50000 - 49860 - 49500 levels.
According to this chart, gold is trying to climb upward after hitting the PC. And if it remains into the PC, we may see 51000 - 51500+ levels before the weekend.
Gold Respect to its Support Level Chances to go more High Gold Respect to its Support Level Chances to go more High Ever.
Accumulation Zone - GOLD BULLISH - REJECTION LINE FORMEDTo update from the last week's rejection line, it broke upside and returned back to the accumulation zone.
This week could very well see a uptrend with global markets taking a hit on thursday and friday.
XAUUSD . Weekly Technical Analysis Update for GOLDMidterm forecast:
While the price is below the resistance 2075.05, beginning of downtrend is expected.
We make sure when the support at 1818.00 breaks.
If the resistance at 2075.05 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
While the RSI support #1 at 45 is not broken, the probability of price decrease would be too low.
A peak is formed in daily chart at 1991.10 on 09/01/2020, so more losses to support(s) 1916.20, 1862.45 and minimum to Major Support (1818.00) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 49.
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GOLD MCX ANALYSISGold MCX has strong Channel Line Support As marked on the above chart and we can see buying resuming in the GOLD MCX, With the Stoploss of 50400 one should Go Long for the Targets of 52000 and 54000 on the upside. Once GOLD MCX Closes above 52500 it May Again Resume its bullish momentum.
Is a correction in Gold imminent?Looks like we are in the 5th wave according to the Elliot wave theory and moreover there is a negative RSI divergence as well. Indicating weakness in the momentum!
XAUUSD TRADE SETUP The 4-hour right side is up against 8/16/2018 low (1159). 1 hour is turning up against 1669 low. Near-term, while dips remain above 1669 low expect Gold to extend higher.
