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.
GOOD LUCK !
Gold MCX is Trading in Rising Wedge Technical Pattern as marked on the Chart above. Support zone For the Gold Seen at 46300- 46150 Which is the decisive levels. On the Upside Resistance is Capped at 48400, The Wedge Formation Resistance, We Suggest to Go Long on GOLD MINI for the Targets of 48400 and 49000 Place stoploss below the support Zone which comes out to...
Since March 17, gold has been in a process of market manipulation, leaving us with good entry areas and key signals. As of May 18, 2020, Elliot's impulse wave formation begins with beautiful harmonic patterns and after finishing the cycle of (1-2-3-4-5) with good results, the wave process started corrective (Corrective point "A" exceeds "level" 4 "of the" impulse...
GOLD COMEX is trading in Rising Wedge Technical Pattern (Marked with Blue Lines in the chart Above) Support Zone for the GOLD COMEX is 1725- 1735$ Per Ounce. On can Buy with Targets of 1772$ and Stolploss Below 1710$... You Can Use These Levels to Play GOLD MCX MINI (Take you Own Decision and Analyse you Risk Capacity Before Entering into position)
thats a historical chart, which shows gold will be @ $5000+ till 2025 ... if any thingcan be concluded from the fractal going from 2005-2011 ...we r exactly at the same place or we may see gold touching 1800-1900 in short run then consolidate to 1300-1450 zone & then again make a ride towards new life time highin end 2021 -begining 2022 & keep on increasing till...
Its been a long bullish run for Gold against Dollar, set up clearly signals for bears to take control for this pair. Right from 1715 its ready to go down till 1660 as of now, Today USD news like Unemployment claims , Flash services PMI will reflects on this pair..
Gold against dollar's bullish run looks like decided its destination on 1675, and 1675 become the key area to decide its fate ,if it breaks it will go high , else it break out the resistance to take control by the bears...
Gold raises gradually from its fall of 1450 and after breaks the price of 1600 , its gains momentum ..
and it gains strength to show its new high.. this week it will try to pierce the level 1660..if it breaks go high else ....
Last week , it ends up with the sideways movement , and it passed up over resistance line, If that resistance line turn into support .. then the Gold going to see the new high during this week. Analysis made based on pure price action.. not fundamentals
Gold has crossed the major psychological level which is 1600.00
And currently trading at 1620.00 level
It has broke the triangle formation and reached the top side level of 1620.00
We can expect short term fall back towards 1606.00 level
From this level suitable long position may open at 1606.00
Take profit will be 1628.00
Stop lose may placed below...