Gold , Before last week, I just named a structure as Umbrella pattern, and it went really bearish with super sell signal, again i marked out today in a 1HR chart with a Small umbrella, which provides a foundation for a bearish move.. XAUUSD may look to go around 1770 - 60 area this week.. let see.. Analysis only for education purpose..
Long-term Investors: Copper has broken March 2020 resistance trendline, and true resistance breakout is a clear signal to buy. Target prices for long-term traders: 760 - 800+ Intraday Traders: But at present, MCX copper can pullback to the previous resistance line to continue an uptrend. So, intraday traders can sell for the following targets: 690 -...
Description: The counter XAUUSD is moving in the parallel channel. The movement of the price is between the price range of 1769.13 and 1960.41. Specifying a particular trend is very difficult when the counter is in the parallel channel. Today the counter has tested the support baseline of the channel and there is no indication for a breakout. The market’s...
Gold failed to continue the uptrend so we're in a large WXY structure. Minimum target is the .618 extension of W at $1533 USD but even a price of $1200 USD is possible again. Time will tell.
Midterm forecast: While the price is above the support 1762.05, resumption of uptrend is expected. We make sure when the resistance at 1875.15 breaks. If the support at 1762.05 is broken, the short-term forecast -resumption of uptrend- will be invalid. Technical analysis: While the RSI downtrend #1 is not broken, bearish wave in price would continue. A peak is...
As expected, gold has started collapsing after a breakout of the test level. Will it keep falling? First, click here and read the previous article on gold: When Will MCX Gold explode? I have written in clear words, " If gold remains below 47296 levels, it will come down to 0.618 value of Fib retracement. Targets: 46600 – 46000 – 45660 – 45200 ". Gold has...
In technical viewpoint since Aug 2020 Gold continued traded lower low and lower highs and it does create a descending channel on daily chart. Staring of this month Gold start traded below 200SMA on daily chart after a long period, which is very bearish signal for Gold. If we see chart properly we may see a another descending channel within short range which may...
Currently at a do or die level.., monthly closure below 1750 can cause neck line breakdown and further fall upto 1680.., any break below 1680 can take it upto 1500.., till then.., till 1750 is broken buy the dips a good bounce anytime possible..,
Following its failure to break the November 2020 bottom, gold prices finally slipped to the lowest since July during early Friday. However, the metal bounced off quickly from the $1,760.55 low and remains sluggish off-late. This suggests the bulls’ inability to cheer the oversold RSI conditions while bears also await confirmation. As a result, a clear break below...
GOLD MCX, 60 min chart can go short with stoploss of 46856 for targets of 46244, 45870, 45676, 45400, and 44900 Disclaimer I am not sebi registered analyst My studies are for educational purpose only Consult your Financial advisor before trading or investing
Another day (week) , same story
What does SILVER's recent history tell us ? No surprises I guess !!
HELLO FRIENDS, HERE IS GOLD TRADE SET UP AS PER HARMONIC PATTERN GOLD BUY NEAR 46500 TO 47000 LEVEL WITH SL OF 46985 FOR THE TGT OF 50,000/- HAPPY TRADING FRIENDS
NEED TO WAIT FOR THE CLOSURE OF 4HR CANDLE OR DAILY CANDLE BELOW 1812. IF IT DO SO WE CAN EXPECT IT TO GO TILL THE LEVEL OF 1775 THEN TILL THE LEVEL OF 1730. WE WILL SEE A GOOD RESISTANCE FROM A LEVEL OF 1825-1835
Although oversold RSI conditions placate gold bears around $1,790, a sustained trading below the $1,800 threshold joins expected further recovery in the US dollar to challenge the upside momentum. However, the quote’s further declines will have to break a descending trend line from mid-January, at $1,772 now, to revisit the November 2020 low near $1,765. On a...