As I said last week ... GOLD closed Fibonacci for 1 week and now the only valid chart remains the 1 month ... which shows that GOLD will continue its fall to the Fibonacci area 618 from where we will reanalyze the whole situation. GOLD reached as I said at Fibonacci 618 from where I expect a major rejection until the 1760 area THIS WEEK...as I said in the last...
As we have seen the xauusd fall on the recent event and US data, it's clear we are again going into short for xauusd as its price already below EMA 50. My analysis on gold says we should let rise gold little and then short till 1825 again.
price is at crucial horizontal support which is also the base of the triangle pattern. breakout is expected.
Buy Gold On Dips With Strict SL Of 48600 (Weekly Closing Basis) For Target Of 56000
Gold 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
I am expecting the price to fall below 1850 by next week
The daily right side is up against 8/16/2018 low at 1159. The 4 hour right side is up against 1668. While below 1973 where the hourly is turning down Gold can correct the cycle up from the March lows. SELL GOLD @1870-75 TP: 1848-40 SL: 1890 GOOD LUCK
Gold 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.
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.
GOLD BREAKS RESISTANCE AND NOW ITS WORKING AS SUPPORT SO POTENTIALLY GOLD CAN REACH OUR NEXT RESISTANCE POINT and CUP HANDLE PATTER RESISTANCE POINT TOO that IS 1732 level WHICH ALSO HAS OUR SELLING ZONES IF IT FAILS AT POINT AND DROPS AGAIN SO I ALREADY GAVE IDEA OF OUR SHORT ENTRIES AND IF IT KEEPS SHOOTING UP AND BREAKS OUR RESISTANCE WE GOING FOR LONG AFTER A...
The 4 hour right side is up against 8/16/2018 low (1159). 1 hour is turning down against 1739 high. Near-term, while bounces fail below 1739 high expect Gold to extend lower to correct the cycle from 8/16/2018 low in 3, 7 or 11 swings before upside resume. SHORT GOLD @1700-1704 TP: 1680 SL: 1715 GOOD LUCK !
Gold is favored to remain in the cycle up from 8/16/2018 lows where the daily right side is up. A pullback to correct the cycle from the 8/16/2018 wave ((2)) lows ended wave ((4)) at 1447 on 11/12/19 where the 4 hour is turning up. The metal is favored ended ended a wave B at 1593 where the hourly is turning down to correct the cycle from the 1611 highs. While...
Gold is favored to remain in the cycle up from 8/16/2018 lows where the daily right side is up. A pullback to correct the cycle from the 8/16/2018 wave ((2)) lows ended wave ((4)) at 1447 on 11/12/19 where the 4 hour is turning up. The metal is favored ended correcting the cycle lower from the 1/7/20 highs at 1611 with the bounce to the 1588 highs where the...
Gold is favored ended the cycle from 8/16/2018 lows where the daily right side is up in wave ((3)) at the 9/4/2019 highs at 1557 and a pullback to correct the cycle from the 8/16/2018 wave ((2)) lows ended wave ((4)) at 1446 on 11/12/19 where the 4 hour is turning up. While above there the metal can continue higher in wave I toward the 1700-1750 area before it...
Triangle pattern observed in Gold. Pattern looks to be valid and the target comes at 1477. 1438 and 1382 are the trend defining levels and so conservatively, longs can be initiate beyond 1438. (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas....