As per short term view, GOLD is in the last phase of corrective wave-y, which is unfolding as an impulse. Currently the price structure suggests that there is a formation of a triangle & this triangle is being formed as a wave-4. This wave-4 triangle formation often takes place as a preparation of terminal trust and after that the 5th wave of the impulse get...
Long ago a surge in GOLD price rally stopped in the year 2011 & the point has been designated as a primary wave-5 by all the elliottician. From that level we have seen a correction upto the level of 1045 $. A nice corrective move.Right from that level GOLD price raised up & currently trading in a all time new highs range. But this rally from the lows 1045$ is...
Gold prices can rally beyond breaking the rejection zone. It is still in the accumulation zone as per my previous post on the gold chart, We have see two false breakouts happend in the last two weeks beyond and below our accumulation zone. Bear zone is also indicated. If price falls to that zone, bears take control.
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.
Forming strong bottom @ 1900-1950
Here we can long gold , looking xabcd chart patter.
Trading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (1966.0). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . XAUUSD is in a range bound and the beginning of downtrend is expected. .The price is above the 21-Day WEMA which acts as a...
Dollars weakness may push the price higher till 1972 tomorrow and further upto 2024 on friday..
On the 4 Hourly Charts Gold MCX has Strong Support Zone around 49900-50000, As it was previous Channel Resistance now acting as support. We may see the uptrend resuming, On should follow strategy to buy on correction and Hold for investment with Stoploss below 49000 on closing basis.
Gold has corrected well from the recent highs and if it sustains above 54850 levels then take the trade with the following targets T1 - 54997 T2 - 55143 T3 - 55299 with SL - 54690
According to this chart, gold is reversing downward after making an all-time new high of 56191 . Its support level is 53800 . You can take this level as a hurdle too. We may see a correction up to this after the breakdown of DR. This dynamic resistance will initiate buying pressure for a short period. We have chances to see 55600 (T1) to 56000+ (T2)...
Strong buying in GOLD since the last 24 hours. Go Long until target $2050. Sentiment broken at $2000 for GOLD. This brings us to GOLD at a all time high. Global economy looks bleak. Hedge away!
GOLD has broken 2000$ barrier. GOLD IS on BULL RUN. Gold demand is increasing as a safe bet to ride out the pandemic.
Looks like we are in the 5th wave according to the Elliot wave theory and moreover there is a negative RSI divergence as well. Indicating weakness in the momentum!
GOLD IS GOING PARABOLIC , & TRENDLINE RESISTANCE IS AT 1985 . BEWARE IT CAN DIP FROM HERE & BOUNCE BACK TO 2020 CREATING NEGATIVE DIVERGENCE .