Short gold below 1330 T1: 1320 T2: 1300 T3: 1290 SL: 1340
Gold to remain bearish, long term target 850 - 900.
OANDA:XAUUSD Gold Trading @ small support area. No trade here. Watching price action in daily time frame. any rejection (Hammer candle etc) near $1265 may take gold up to $1300. $1265 & 1260 also marks Fibo+ Pivot point in weekly charts.
see triangle if will break then more up side
Gold has formed a Right-Angled and Descending Broadening Formation on hourly chart. Short at CMP ($1336.5) Target: $1325 SL: $1340.1 WE WILL LOOK FORWARD TO GO LONG ON THE 3rd TOUCH AT THE BOTTOM OF THE PATTERN. Keep watching the space
Gold has been in downtrend since 29-8-2011 to 17-08-2017 approximately, Just to put things into context. Now, Gold closed above the trend line @ $1288.52 on last Friday. If it sustains above $1300 with good volumes then the uptrend in gold can be confirmed. There are also Fundamental reasons for gold to move up as as mounting tensions between the U.S. and North...
The breaking of the level of 1240 suggested a down move till 1205/1210 levels based on retracements. Now a fall below 1204 can open up target of 1185/90 on the downside. Upmoves will be corrective.