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MCX GOLD TRADINGYellow 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 remain under pressure this week. Buy on dips strategy could work for both the precious metals. Buy zone above - Rs 46,850 for the target of Rs 47,300 Sell zone below - Rs 46,500 for the target of Rs 46,200 December Gold closing price - Rs 46,757, Support 1 - Rs 46450, Support 2 - Rs 46,300, Resistance 1 - Rs 46,850, Resistance 2 - Rs 47,125. MCX:GOLD1!
MCX:GOLD1!Short
by moneymarine
GOLDAfter retracing 61.8% of recent rise or we can say wave I, Gold has given a positive daily close in yesterday's trading session, it looks like corrective wave II is completed and now wave III can possibly unfold, we also noticed that since april 2020 gold is responding nicely as support and resistance at these areas of $1740 to $1760 price zones, at this time both things are combined at same location ( recent retracement 61.8% at price responding zone ), as wave III unfolds we can see prices at new higher highs then previous highs, any indicator turning bullish will surely make boost in prices, one can go long with stoploss of $1740, on higher side in the near term , the 50ema and 100ema in daily time frame, which are currently pegged at $1793 and $1799 respective are immediate resistance levels to watch out for. once gold breaks and sustains above the key daily emas, the bulls shall take charge in there hands and more boost in prices can be seen. on the way down, the swing low of $1743 will be a crucial support level to watch out for in the near term. Prices are at major responsed area ( support & resistance zone ) Price retraced near 0.618% of recent high key levels are mentioned on chart along with stoploss & targets wave structure could be like this Disclaimer I am not sebi registered analyst My studies are for educational purpose only Consult your financial advisor before trading or investing
GLong
by RK_Chaarts
XAU/GOLD hourly chart analysisHello Traders👋 Today i have made a post on gold hourly timeframe I hope you find this post helpful and informative👍 The targets and stoploss would be given in the charts or they would be according to pivot points Thank You —DISCLAIMER— I am not a SEBI registered financial advisor Please consider your consultant's advise a must , all the setups posted here will be considered as informative and helpful post I shall not be responsible for your profits and losses
OANDA:XAUUSD
by profitpujari