after breakout on daily chart gold is ready for breakout.
1H chart is ready for triangular break out .
which will break weekly trendline.
1900$ is next resistance .
gold currently facing resistance at 47300-47500 and trying to breakout this zone and volume higher than 21 DMA
keep this in your radar with SL as support zone
Crypto may be the new gold.
There may be no fear in market because of debt.
But Gold is Gold! and is making a fantastic Cup on Weekly. Guess what there a handle is too. To, top that, Fibonacci also supports this.
Chart says Gold, is going up baby.
When everybody discourages you to buy something, think again, Why???
This is just a chart pattern discussion....
After 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 $1760 price zones, at this time...
this are the probable level in gold for coming weeks.
if it breaks the double or triple bottom than short otherwise take positions according to your risk appetite
Gold US$ spot if manage to close above 1755 go long for 1797-1819-1833
conditional trade to be executed only above 1855 levels,,
spring candle formation on daily time frame,,, symmetrical triangle support above 1755
bullish divergence in RSI and MACD,, good long candidate
Gold has given a positive breakout with good intensity of volume, all key levels are mentioned on chart,
one can go long at current levels or in dips (if any) with stoploss of 1803.75
key levels are mentioned on chart
intensity of volume is good at breakout candle
macd in daily time frame
macd in hourly
macd in 30 minutes
dmi and adx positive ungali in 30...
Trading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (1854.75).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. XAUUSD is in a uptrend, and the beginning of a downtrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
