Gold is showing final leg towards south zone has been started to unfold wave 5, which can probably go near $ 1660. On the way up side $ 1792 is an invalidation level.
As per RK's mass psychological cloud also, it is suggesting bearish. once it breaks below $ 1754 then more fireworks can be seen on chart.
RK's mass psychological cloud sell activated
While correction gold's recent bounce rejected from RK's stop line along with upper bollinger band on daily time frame, as per wave structure we had marked it as wave X, Overall wave structure is still suggesting corrective phase only, along with trend indicator's support as a same bias by macd on multi time frame, stochastic on daily time frame, RK's momentum and...
Gold prices are sitting atop rising trend support guiding them higher since August 2021. Immediate resistance is at 1813.40, with a break above that exposing the 1834.14-49.64 area. November’s swing top at 1877.15 follows thereafter. A daily close below 1778.50 may confirm bearish reversal, targeting 1750.78 next.
Gold on MCX is very bullish this month. Since October 1st, Gold rallied from ₹ 45800 to ₹ 47800 today on MCX. Gold has a major support at 47850. Currently Gold is trading around 47800
If you are a trader then you can have a short term short call in Gold, target can be seen upto ₹ 47400. Make a strict stop loss of ₹ 47880
Yellow metal on MCX may remain volatile, traders can take a short positions.
CMP : 46635 at 1:15 (IST)
Stop Loss : 46810
Target : 46225
On th October, MCX Gold DEC Contract made a low of ₹ 46477, which is expected to be broken by today or tomorrow amidst a firmer dollar and a rise in US Treasury yields weighed on the precious metal’s appeal.
Yellow metal will...
so looking at daily timeframe price as bullish but its on resistance as well and previously price has make pull back after a bullish candle so i went on smaller time frame and take short based on technical analysis
confirmation is there in chart. after its make a pull back it can continue going up.
Gold is in strong downtrend and can clearly see more big red candles than the green ones which suggests the price has tendency to go lower. We already had a Pullback at 1795.36 and the second Pullback might happen again which would make a double top at 1795.36, but if it doesn't happen we expect the price to go lower to at least 1743.16
Have a Profitable...
Conseil de trading :
". Il existe toujours une possibilité de retracement temporaire vers la ligne de résistance suggérée (1897).
si tel est le cas, les commerçants peuvent fixer des ordres en fonction de l'action des prix et s'attendre à atteindre des objectifs à court terme."
Analyse technique :
. L'XAUUSD est dans une tendance baissière et la poursuite...
". There is still a possibility of temporary retracement to the suggested resistance line (1897).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
. XAUUSD is in a downtrend, and the continuation of the downtrend is expected.
. The price is above the 21-Day WEMA, which acts...