Metals are hard commodities that are mined or extracted. They can be further divided in precious metals like Gold, Silver and Platinum and high-demand base metals like Copper, Aluminium and Zinc. Precious metals tend to move together in price and their unit of trade is the troy ounce. Gold has a number of industrial applications, functions as a safe-haven for currency speculators in times of uncertainty and can be used as a hedge against inflation.
Base metals are essential to industrial processes and are traded in metric tons. They are a leading indicator signalling economic growth or weakness. The strong demand from China's infrastructure and construction sectors is the main driver of global base metal consumption. Production cuts or increases and fluctuations in global inventories further influence their price. Metals are mostly traded through futures contracts, to speculate on price movements. The most popular custom chat is the Gold room where traders talk in real-time about where Gold is going.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1279.00). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAUUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support....
At the value low, found the tail where price moving toward the control price.
Trader always tries to short at control price but not aggressive.
Short selling aggressively good at the excess, therefore at value high I have mentioned the short point.
Short Sellers have two points to short, control price at 1293.5 and 1297 nearby.
Exit at comfortable...!
Gold posted massive gains of $35 in the week which was having a range of $43 making it the biggest week of 2019 and the highest weekly gain in last 3 years. Gold zoomed towards the highs in the fear fueled rally assisted by a near certainty of a rate cut by the Fed later this month due to appalling data which signaled intensive slowdown. The resistances were taken...
risk reward as far as i think its good in long trade , then to go short ,
i can be wrong but its fine , as the sl is small , while in short trade i might get stuck ! and reward nthere is clearly undefined !
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (14.60). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAGUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
....
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1310.50). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAUUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support....
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1310.50). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAUUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support....
Gold finally made a decisive move as it broke out from the flag on the upside changing the trend to bullish after more than 2 months. The consolidation which it was in from past few weeks ended with a massive move of $21 happening on the upside with gold ending well above the psychological $1300 mark. The week was a huge one with the candle having a range of more...
Gold remained sideways trading in its set range with consolidation spilling into 5 straight weeks. The yellow metal had a weak start to the week but ended with gains of $7 without the support of lower dollar as global tensions weighed again. Point to note : Gold has been unsuccessful to give a weekly closing above $1286 after repeated tries over last few weeks...
I think Gold has entered a consolidation on a higher timer frame and that it is currently in the second leg of the three wave ABC pattern. I believe its going to retest the areas around the most recent top, first followed by a possible down move after. Short term bias is to the up side.
Gold is forming bullish flag pattern on chart. Volume was very high on poll and then dropped substantially in falling channel. Buying is advised only above $ 1286 with stop loss below $ 1282 for target $1295 -1298.
CMP $1284
Gold had a big week ranging over $28 finally ending with cuts of $8 closing near the lows of the week. The metal saw a huge upward rally on day one closing over crucial $1300 which was erased completely by following 4 down days resulting in failed attempt to break through the flag/pattern thus encouraging the bear cartel to persevere with the trend. The rejection...
Gold continued to consolidate in $15 range but this time the expansion was on the upside unlike the previous weeks, finally closing with gains of $7. The uptrend was halted as the price action created a double top formation directly inverse to previous week’s double bottom formation which continue to suggest the trend still remains bearish in-spite of favorable...
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1292.95). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAUUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support. ...
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