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...
Gold against US Dollar weekly analysis, post election first week analysis shows a bullish view like last week also , this pair looking to go high may be till 1975 - 1980 mark this week, but first few days of the week may see a down side almost it has a chance to touch 1925-1930 price range, then it has all the chance to go up against weaker dollar in...
Gold 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.
This is an add on analysis of my previous one on Gold, buying recommended at 50580, Gold has now made a strong base around 50500 level, if 50500 breaks with volume than only it will fall else m expecting a good upside move..
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.
Last week has seen tremendous downfall in the global markets with the COVID-19 vaacine no where to be seen.
Major markets reacted to supposedly possible "LOCKDOWN 2.0" in many other parts of the world.
In India, We have seen NIFTY react and fall below 11400 & Bank Nifty make huge falls in the last few trading session.
Investors weary with the major markets...
Last time we have seen a symmetric triangle ( look into related ideas) and it breaks the trend line but it din't break our levels.
This time also formed a symmetric triangle and hopefully it will break with good volumes and breaks our levels. Long / Short, Enter only on breakouts