Silver seems to have completed its 5 wave fall and should settle at this level or slightly lower before it moves up from the current levels. We are near the end of wave 4 at a primary degree and should move to new highs if it gets support at these levels
Again Same Markets heading to Congestion ZONE Excercise Caution !!! Gold performing better again than Silver
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.
As per my last week idea, there was a strong rejection zone formed on the upside. In the last trading sesssion we saw GOLD break the drawn Rejection line with a small breakout above into our accumulation zone. Currently, GOLD has taken support along the previous rejection line.
Day candle Close below 50000, Can short goldm for target of 46100
Currently it is incomplete converging triangle (abcde) and completed combined (wxy) correction. . .
Gold trading in the zone forming symmetrical triangle, waiting for the breakout .
Midterm forecast: While the price is above the support 1901.20, resumption of uptrend is expected. We make sure when the resistance at 2075.05 breaks. If the support at 1901.20 is broken, the short-term forecast -resumption of uptrend- will be invalid. Technical analysis: The symmetrical triangle taking shape and as a continuation pattern suggests we will soon...
Dear traders, Gold against US Dollar , price movement of XAUUSD in the month of September So far, is between 1972 and 1928 except once it went low of 1908, but this week , this pair is in the position to break up or down, it seems 3 months old resistance is stronger than a 3 weeks support area, if it breaks above , price may go till 1983,, Else the south boundary...
Hindalco is near the support zone. It has trend line support as well as 50 EMA support. Stochastic RSI is also showing over sold levels. By looking at the price action it seems like a minor pull back from recent high and the uptrend is still intact. Fibonacci is also showing 23.6% retracement from recent highs. I am bullish on metals and Bullish on Hindalco as...
Gold has broken out of the 4th wave triangle and is heading in an impulsive 5 waves to new highs
GOLD MINI FUTURES IF BREAKS THE NECKLINE RESISTANCE OF 52,200 THEN 54,120 AND 55,670 LEVELS MIGHT COME SOON. STOPLOSS IS ALSO GIVEN. IT SHOULD BE BELOW THE RECENT LOW OF GOLDM FUTS.
Xauusd trending within the triangle from the August, and it tries to escape down from triangle in mid of september, strong resistance above the head push the price lower and added to that Dollar index also looking bullish at the same time, Rest of the week could be the sellers domination in this pair.. expected to go down atleast 1890 area.. Note - price action...
GOLD - Looking strong at this point of time on bigger time frame as well, My approach should be a buy here at current price 1969 Potential upside 1990-2004 Maintain Stop loss around 1958 Follow the levels properly as mentioned and use proper risk management. Traders, if you liked this idea hit the like button & write in the comment section. Why you should...
Still there is no good news about any vaccine regarding COVID-19, there is still heavy hedging by investors in Gold to protect their funds. Gold is within the accmulation zone and has been range bound in the last few weeks. Downside breakout was tried but failed and bounce back was seen in the last 2-4 trading session. GOLD is bullish.