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..,
Goldlong
XAUUSD - LONGDescription:
The counter XAUUSD was in the resistance trend line from 01st February. The support trend line has been tested twice at the prices 1869.76 and 1874.62. Today the counter breaks the trend line at the price of 1841.90 and it is expected to move upwards. Therefore long is more preferable for this counter and the bullish trend is expected to continue further. The upward movement of the MACD indicator gives additional support to the description.
The major levels for this counter are
R2 –1858.28
R1 –1848.22
PP –1838.52
S1 –1828.46
S2 –1818.76
AS PER THE PATTERN, GO LONGMarked the trading range, buy in the area support, Long when breaks the range.