For the past two trading weeks gold was trading within confined range and unable to break on either side 1795,1760 was acting as strong barrier.Kindly watch the break out/down for potential buy/sell Upper side target would be 1815 and on downside immediate target would be 1750.
GOLDPETAL | Looks good for 180 points swing CMP : 4646 (Dip : 4550) SL : 4520 Target : 4780 1 Point = 1 Gram I generally trade in 30-40 grams
Buy gold above 47600 Target 1- 47850 Target 2- 48000 Target 3- 48400 Stoploss- 47350 (Closing Basis)
Although there has been a good breakout from 1750 levels still it could face Resistance around 1800-1850 levels. Crossing 1800-1850 it may get into its long term uptrend direction.
for future analysis for multi asset review and understand where equity stands
If gold break 46800 to 46900 then going with up side moment.
Gold in make or break level. Enter only after the confirmation candle (Weekly). RSI is in the overbought zone!
Spot gold on a daily chart has witnessed a double bottom around $1677. Can be a possible neckline Breakout around $1755, which can be extremely bullish for gold.
Gold is set to retest 1720 area before jumping high to reach 1800 mark. Will go for buy again at 1720 area if Bulls show some momentum up.
Gold has formed a flag pattern after a trend line breakout so it looks good in short term
gold bounce from strong resistance
Today's closing for spot gold is extremely important $1727 Also not to forget that tomorrow is a holiday because of Good Friday and we have US non farm payroll data So Monday gap up / gap down is possible
As anticipated previously Spot gold failed to break is major resistance around 1750 -1760 and fallen sharply from there. Gold prices are now likely to test 9th March 2021 Lowes which is $1676 On the daily chart currently gold prices are trading in a downward sloping channel. If 1676 dollar is breached a test of the test of channel lower level is possible...