MCX:GOLD1! gold is in parallel channel at the top level support area which was previously a resistance zone, this support zone+ parallel channel breakout can send gold on new all time high or retest the new high level once again.
on Daily TF double top was formed but the red line is not yet broken. now it seems to be forming double bottom. One can hedge here and wait to break on the either side. Safes can enter on the breakout and retest.
We can see the gold the retesting the yesterday high's again , it may be just a bull trap before dropping to test the HKEX:2000 on the daily bear flag or dropping below that can swing the reversal to supports at TSE:1980 and then $1950. It can form the M here or if it broken can test ath of TSE:2070 which is much less likely as it may go to test ...
eys on trend line support 59900 if stya lw or close blw u will see 59780-710 or bwl 59600 game over soon 59120++++++ or if hold abv 59900 thna mkt must fill gap till 60500@ over all 61222 or 2032$ strong hurdel for up side abv may be zoom will start let see in mkt hrsssssssss
#Gold #XAUUSD downward movement potential with risk:reward= 5.2
Analysis of Gold spot/US Dollar i.e XAUUSD
Time frame:15 minutes
What is the analysis?
Break out on the upper side and reach the target. MACD Is crossing below zero, so we can expect a downtrend movement with risk:Reward=5.2.Sell at 2020 with SL 2035 and target 1871.
HOPE our analysis is...
Gold has created double bottom pattern and and bull flag pattern on 4hrs TF. The long position antry, exit and SL is marked on the chart. minor resistance at Previous ATH.
yesss only onlyyy eys on 1990 if sustain abv zoom will start 1996-2005 yes sustain abv no sell side its buy on dipsss in mcx 60180 sustaina abv thna buy on dipss sl tgt 60300-500+++ yes sl 59966-- yes small ot size trade higher lvl
gold spot hold abv 1962 thna buy on dips good way till tgt 1975--82+++++ sl 1948 or hurdel 1996-90$ only abv bull flag will work only or if hold bwl 1990 thna again sell on rise good way---- mcx gold if sustain abv 59577 thna mkt up side expect 59700--850--900++ expect or if hold blw 59700 thna sell only with 59856 sl soon 610--577--429+++ or support 59240-200...
gold mcx or spot stucking in tght range due to upcoming expiry or any news-- where 4 th hrs chart made bull flag along with cme gold if break or cls abv uper range in gold or cme like 59600-700 or 1995 thna mkt full bull zone again or where flag support 59400 or 1948 break this range than mkt bear hand only till than mkt up dwn only try to sell or buy with...
gold mcx analysis 4th hrs chart below----gold made support zone 58300-270 if stya blw or cls blw see 57700-600 soon or if hold support mkt again bounce back ready or resistance 58760-77 if sustain abv mkt bull rally 58909--59000+++++ more in trade hrs will update
support 1960--1966$- stya blw nxt dwn will start -1942-1933$-1910$ . or resistance 1990$ abv may rally till 2000-2004$ or break with volume or cls bav 2 days 2010 soon 2030-53+++++++ or no cross 1990 or hold blw 1990 than again dwn sell on rise good way
mcx gold stya blw 59200 sell on rise must soon 58930-829++ expect
gold spot update---- support eys on 1960 sustain blw or close blw will see 1942--28$ soon or if hold abv support tahn mkt again 2000$ or may be 20230-40$
GOLD Technical Analysis: Gold have been trending higher
for the past few weeks we have seen price moving higher
with some strong bullish momentum, there is a high chance
for some retracement on Gold we can potentially move back into
1942.81 area where we have our 50% fib retracement zone.
Once of fib is being respected we can potentially target gold
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