Gold - US presidential electionAs everyone is expecting gold to break alltime high $2075 before US presidential election, the chart says gold will slide & trade in the range of $1736-1802 (demand zone) before making any further move upside.
Long term demand zone $1560-1682
Fibo extension supply zone @2158-2460-2685
Expecting gold not to break $2075 within 3 months of time frame.
Goldtradingstrategy
GOLDPETAL LONG - HEAVY ACCUMULATIONAs per the FOREX GOLD chart idea I have been posting in the last few weeks, the gold is in accumulation stages and GOLDPETAL Contracts are being traded in the MCX with good volumes.
The following idea shows that GOLD has had very strong RSI with above 40 in the last two months.
Price breakout chart in USD can be seen below for XAUUSD.
Pockets are Full of $$$$. Will Blood Bath in Gold for Bulls Over
As per the previous updates on the blog & other social media that Gold will soon HIT $1285. Today trading at $1285, So further in this week. If closes below $1275 Then the further move will towards $1257 & $1244. So, For Bears Today is a Good day to book there shorts with $60 points & sit relax for a new entry. For Bulls they can put the stop loss of closing below $1275 for their long position.
Utsav Babbar