MCX Gold is collapsing after making the all-time high of 56191 (swing high). It has created a parallel channel in December. Gold prices are rising here. If gold breaks the dynamic resistance without fakeout, it can touch 5 1000 - 52000 - 52384 levels at the beginning of 2021.
And if gold breaks the parallel channel and retracement value of 0.618 , it will...
Gold is bouncing from the hurdle (support). And if we look at the Gold Spot, the RSI is bullish and calls for further upside. Hence, MCX traders can buy for the following targets: 50060 - 50120 - 50200.
According to MA, EMA, and DMI, it's bearish. If it remains below to hurdle, intraday traders must sell it for the targets of 49860 - 49800.
According to this chart, gold has started falling from August month. Doji appearing in the last trading session. It's signaling a possible reversal. If gold follows the dynamic resistance, we may see a continuous downtrend. That can be up to 0.5 ( 47300 ) to 0.618 ( 45200 ) of Fib retracement.
Fib retracement:
Swing High: 56191
Swing Low: 38400
Here's...
According to this chart, gold is further advance. Intraday traders can see 49860 - 50000 levels soon. We may see 50200 - 50400 in extension before the weekend.
If gold breaks the support trendline, gold can collapse up to the trend diversion point (from 49560 to 49400 levels). Speculators can enjoy both rides.
Once it breaks the support trendline, I...
Overall, MCX gold is collapsing. Look at the chart, if it breaks a low of 48924, we may see freefall up to 48500 - 48360 .
According to 50 MA, gold will try to push the upside. If we see the gold closing price above the second top of the trendline, it will start rising for the levels of 49760 - 50000 .
Here ADX is less than 25 and 200 MA throwing a direct sell...
GoldM recovered after a huge drop from 52k.Broken the trendlines and conforming ma 200 cross indicates up trend for 52k.Buy with the sl 50450
Targets are 51550,52200,52600 trade your own risk.
happy trading.
Gold has started rising from U.S. Presidential Election. I have said in the previous newsletters, bullion sector commodities are strongly bullish. How many of you bought Gold and Gold Guinea?
MCX Gold Measured Moves
I had written for the intraday traders that, " ...the day traders can...
Gold has made a Doji in the weekly chart. It's a direct sign of a reversal. And wherein ADX is less than 25 but +DI above the -DI . Additionally, the 20 MA line is trying to stay downside.
In short, DMI & MA is throwing a strong upward signal. Moreover, its volume is increasing. This week, we have chances to see gold prices above the 51860 ...
Here I have compared Gold Spot (CFD) with Indian MCX Gold to identify this week's trend.
In the chart, there are two different support levels. Wherein support level 1860 is for gold spot, and 49260 for the MCX gold.
I have used moving average and volume on Indian gold. At present, 50 MA is turning downside. If it breaks the parallel channel (PC), gold will...
The sideways action in GOLD is not a Wave 4 triangle as assumed earlier. A Wave 4 triangle should have resulted in a swift move up, this has not been the case. This is turning out to be a Wave B triangle , so a Wave C to the downside is the next expected move.
As 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.
...
Bullish Triangle Running – A Classic Scenario for MCX Gold
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Disclaimer
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All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy,...
MCX gold overall trend is upward. The position can be initiate at 52360 . It will keep moving upward after consecutive closing above to the control price. And we may see prices at 53000 - 53660 - 54000 - 54600+ levels.
Don't forget to follow the control price (CP). If gold breakdown CP, it may fall for 51360 - 51000 - 50500 - 50000 levels. Watch out the...
