Gold Seems BullishXAUUSD is currently Resistance Level if it breaks this then we can see new all time high level, if it fails to do so we have to watch its price behaviour in minor support level.
Metals
Gold Conquers New HeightsHello everyone! How is the gold price doing at the moment? Let's analyze it with Alisa!
Global gold prices continue their impressive upward trend, with spot gold recording a gain of $2.3 compared to last weekend, reaching $2,723 per ounce. Last week witnessed one of the strongest and most sustained price increases for gold this year.
Gold is showing an extremely positive technical outlook. With the moving average pointing upward and technical indicators supporting the bullish trend, gold is ready to conquer new heights. The $2,607 support level acts as a solid cushion, allowing gold to easily break through the $2,730 resistance and move toward the $2,800 target.
So, what do you all think about today’s gold price? Will the upward momentum continue?
SILVER Breakout Confirmed........Silver broke weekly resistance and weekly close confirmed it.
Next target is 35$ and 37$. It may pullback from there before reaching 48-50$.
Trade as per risk management.
NOTE : ALreay silver view was given before at 27-28$ with target of 32$. This is an update actually. You can find previous chart idea below in link
gold sellthe b est opportunity to catch the reversal trade of gold ..................dont miss gold at very crucial level
Gold renews all-time high within bullish channel, $2,750 eyedGold prices soared to a record $2,710, marking four days of gains as investors flock to safety. Despite a stronger US dollar, gold has remained within a rising trend channel for the past three months.
Caution Ahead
While the bulls celebrate breaking through a three-week-old resistance level, the momentum indicators suggest a potential pullback. With the RSI nearing overbought territory, we might see a brief dip before another surge in prices.
Key technical levels to watch
Gold’s next challenges lie at the 50% and 61.8% Fibonacci Extension (FE) of the bullion’s September-October moves, respectively near $2,711 and $2,736, especially amid nearly overbought RSI conditions. In a case where the precious metal remains firmer past the $2,736 hurdle, the aforementioned bullish channel’s top line surrounding $2,750 will be a tough nut to crack for the buyers. A breakthrough there could spark a rally towards the psychological $3,000 mark, with potential resistance around $2,800 and $2,900.
On the contrary, Gold’s price has solid support at the $2,700 level and the 38.2% Fibonacci Extension around $2,686. If it falls below these, watch for a key support zone near $2,665, where the late September resistance and the 10-day EMA converge. Should XAUUSD bears keep the reins past $2,665, the channel’s bottom line of near $2,630 will be the last defense of the buyers.
Buyers are likely to stay in control despite a potential pullback
While a short-term pullback in gold prices appears overdue, the overall bullish trend is expected to hold strong due to global economic and geopolitical uncertainties.
Gold above 2700Gold breakout psychological level of 2700 and now trading above this level after Chinese data ;as per my view buying at these elevated levels is risky (Same goes with sell also : sell is also risky but with proper MM sell seems to be more favorable as per volume distribution ) : So my plan is to sell at every Intra day resistance as per Pivots (R1:2702,R2:2711,R3:2725 and weekly R3: 2734).
Gold Price Climbs Near the PeakHello everyone! What movements has gold shown today? Let's analyze together!
Tensions in the Middle East continue to be the main driver pushing gold prices higher. The ongoing attacks between Israel and Hezbollah have raised concerns about a larger-scale conflict, prompting investors to turn to gold as a safe-haven asset. While U.S. economic data has been relatively quiet this week, upcoming key reports could significantly impact market sentiment and gold prices in the next trading sessions.
The XAUUSD chart is currently trading around $2,681, indicating that a short-term uptrend is still being maintained, according to Alisa’s analysis. The strong support zone at $2,645 has stabilized gold prices. If gold can break above and close above the resistance level of $2,680, there is a high likelihood of further gains towards higher levels. On the other hand, if it fails to stay above this resistance, gold may retrace to retest the previous support zone.
These are Alisa’s thoughts on gold price movements today. How does everyone feel about this?
Gold again reached at All time High : What next?As expected and as shared on daily updates ,we have seen a good bullish rally on gold again and gold re-tested the ATH level and now facing resistance on Intraday but there is no big indication of good rejection at ATH level: CPR is very extreme today and gold price still showing strength. Today we have some high impact data in US session that can generate good volatility
For today:
For Buy:
We will wait for breakout above 2685 and on breakout we can look for buy on Intraday towards 2700,
For Sell; Price need to see a good decline first /close on H4 and bears at least need to push the price under 2660 (Daily S1 for today) and then only we can look for sell opportunities on Intraday.
Gold Seems BullishGold is currently in consolidation range which seems to be 2668.00 to 2677.100 if it breaks the level of 2677.100 then we can see the levels of 2685 which was the last high and if it hovers there then it will break the resistance level , if price comes to support zone of 2668 to 2666 then we have to wait for the price action confirmation.
Is VEDL Ready to Soar? Elliott Wave Analysis Suggests YesTechnical Analysis of VEDANTA LTD. (VEDL) Based on Elliott Waves
This analysis is based on Elliott Wave theory and is for educational purposes only. It does not constitute financial advice.
Elliott Wave Analysis:
The provided chart of VEDANTA LTD. (VEDL) suggests a bullish trend based on Elliott Wave principles. The analysis identifies a potential impulse wave structure, which typically consists of five waves.
Elliott Wave Analysis Update
We're currently within Wave (3) in blue intermediate degree, with subdivisions marked as Red 1 to 5 Minor degree, Having completed Red 1 to 3, we're nearing the end of Red 4.
Key Takeaways:
1. Post-Red 4 completion, we expect an upward move to complete Red 5, targeting 1.618 Fibonacci extension (measured from Blue Wave (1).
2. Wave 5 (Red) is the final leg of Wave (3) in Blue which is of intermediate degree.
3. Overall, the outlook remains bullish.
Important Principle:
As per Elliott Wave Theory, Wave 4 cannot overlap Wave 1. This means Red 4 cannot enter the territory of Red Wave 1.
Nearest or current Invalidation Level:
If the price enters 471 (Wave 1 high), our labelled view will be negated, and we'll need to reassess the chart.
Expected Outcome:
If the invalidation level holds, our view remains intact, targeting 537 or nearby.
Actionable Insights:
- Monitor Red 4 completion
- Watch for Wave 5 unfolding
- Keep 471 as the critical invalidation level
Right Direction:
The annotation "Right Direction ↑" suggests that the overall trend is expected to be upward.
Invalidation Level:
The level of 424 is identified as an invalidation level. A break below this level would negate the bullish outlook and suggest a potential reversal.
Target:
While a specific target is not provided in the chart, a potential target for wave 3 could be around the 1.618 extension level (537.55) based on the length of wave 1. However, this is a rough estimate and subject to change based on market conditions.
Overall Outlook:
Based on the Elliott Wave analysis, VEDANTA LTD. (VEDL) appears to be in a bullish uptrend. The market is expected to continue rising, with a potential target around the 537.55 level. However, it's crucial to monitor the price action closely and be prepared to adjust the analysis if the market's behavior deviates from the expected pattern.
Remember: Elliott Wave analysis is a complex tool that requires practice and experience. It's essential to approach it with caution and always consider the potential risks involved in trading.
I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Thanks
RK
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
Graphite India for 100%+ upsideDate: 21 Sep’24
Timeframe: Weekly chart
Graphite India currently seems to be in Wave III of 3 which is heading towards 1400 levels (130% growth from current price) as seen in the chart. Even if it attains its previous all time high of August 2018, that’s almost double its current price. If one can handle the fluctuations that operators inject from time to time and hold tight, this one is a no brainer.
This is not a trade recommendation. Please do your own analysis.
All eyes on GoldAs discussed in yesterday's update gold is still looking good to more higher and gold is following that statement perfectly , as you can see on hourly chart after a small pullback in yesterday trading session gold price took support at weekly pivot (2640) and after that price moving in higher side, for today also the CPR relation is positive and gold price is taking support on CPR area and we can expect continuation in higher side , weekly R1 is at 2677 and at that level we can expect another small pullback and then price can continue in higher side towards 2685 or higher level, there is no sign of good reversal so we have to wait for higher levels for any selling opportunities , the only limiting factor that currently stopping the gold bulls is strong dollar Index chart, but I think DXY is also due for correction which can help gold bulls to make a good move in higher side : overall the scenario is still favourable for buying on Intraday .
BTC & Gold Price Action Analysis | Key Levels and Trade SetupsIn today’s video, I dive into the latest price action analysis for Bitcoin (BTC) and Gold. We’ll be breaking down key support and resistance levels, identifying potential breakout zones, and discussing trade setups you can keep an eye on.
Thank you for watching! If you found this analysis helpful, don’t forget to like the video and subscribe to the channel for more in-depth market analysis and swing trade ideas. Your support helps me continue bringing you high-quality content every week!
Feel free to share your thoughts in the comments below and let me know which asset you’re keeping an eye on this week.
Happy trading!
#BTC #Gold #PriceAction #TradingAnalysis #Forex #SwingTrading
Gold : Still looking goodDespite the strong Dollar Index gold doing good and currently trading near to All time high and still looking good to go higher, on technical basis also, If we watch the daily CPR formation , CPR is ascending for today also + gold price trading above weekly pivot (2640),So technically the price is still favourable for bulls and we can expect continuation in higher side as per this formation, yesterdays decline/ correction was not convincing enough for bears and I think it is normal corrective structure after a bullish structure and this correction can add more fuel for incoming bullish structure at least towards 2685.
In Lower side we have to watch weekly Pivot as major Level for continuation or reversal point .
Gold loses momentum: Will it drop further?Hello everyone. Today, let’s join Alisa in predicting gold prices!
Gold prices have plunged under pressure from several unfavorable factors. The strengthening U.S. dollar has made gold less attractive compared to other assets, prompting investors to exit the gold market. At the same time, the strong recovery of the U.S. stock market, with significant gains in major indices such as the Dow Jones, Nasdaq, and S&P 500, has attracted investment flows, adding further pressure on gold prices.
Gold is facing downward pressure at the $2,650 per ounce level on the 4-hour chart, dropping $15 per ounce compared to the previous session's peak. The strong resistance level at $2,660 per ounce is limiting the rise of this precious metal. If it fails to break through this resistance, gold prices may reverse and retest the support area around $2,607 per ounce.
What about you? Do you think gold will go up or down?
Gold Price: Will It Continue to Soar or Plateau?Hello everyone, it's Alisa here. Today, let's analyze the gold price together! Will it rise or fall?
The gold market has experienced a highly volatile week with unpredictable developments. Pressure from geopolitical tensions and U.S. economic data caused gold prices to fluctuate. However, a wave of hope regarding the Fed adjusting its monetary policy helped gold recover strongly by the end of the week. The upward momentum has continued into the start of this week and is expected to maintain its stability in the new week.
Looking at the technical chart, gold is hovering around the 2,664 level. The price of this metal remains in an uptrend. With support at 2,645, gold is expected to be supported and rise, breaking through the key resistance level of 2,663 and aiming for a new target.
This is my thought, what about you? What do you think?
XAUUSD’s Final Wave Completion – What’s Next?XAUUSD has formed a corrective pattern on the hourly chart, offering a potential breakout setup. The correction has spanned over two weeks, during which the price has frequently crossed the EMAs (50/100/200 ) on the hourly timeframe. Meanwhile, the 20 EMA has consistently acted as solid support on the daily timeframe.
The pair has completed its final wave 5 of wave (C) at 2604 and has since started to rise sharply. Currently, XAUUSD faces a strong resistance level at 2670 , which marks the high of wave (B). If the price breaks above 2670 , traders can target the following levels: 2685 - 2715 - 2735 +. If the breakout fails, the correction may continue, as 2670 is the key hurdle for the bulls to overcome.
Further updates will follow soon.
SILVER - BUY FOR LONG TERMSilver is a lustrous, white metal known for its excellent reflectivity and conductivity. It is used in a variety of applications, including jewelry, coins, electronics, and industrial uses due to its unique properties.
"Gold's Danger Zones: Are You Prepared for the Next Move?"Gold Trading Analysis: Key Levels for Your Strategy
In this analysis, we focus on two critical levels for gold trading: 2665.624 and 2670.240. These levels are your danger zones, and you should only use them on the 15-minute timeframe.
Here’s how to approach it:
1. Breakout and Retest: Whenever you see a breakout at these levels on the 15-minute chart, wait for a retest before entering. This increases your chances of a successful trade.
2. Set Your Targets: After entry, aim for the next level as your profit target and enjoy the gains!
3. Avoid Large Candle Breakouts: If there’s a breakout with a large candle on the 15-minute timeframe, exercise caution. Such breakouts can lead to bigger stop-losses, increasing the risk of getting stopped out.
Your feedback is crucial! If you find my analysis helpful and are making profits by following these levels, please comment and let me know. Your support motivates me to provide more insights, so share how much profit you’ve made using these strategies!
Gold Prices Surge: A Boost from U.S. InflationHello everyone. Today is Saturday. Let’s join me in predicting today’s gold prices!
Gold prices continue to rise and are currently hovering at $2,657. This marks the second consecutive session of gains, pushing the total increase of the precious metal to $50 in just two days. The main driving force behind this rise comes from the latest U.S. inflation data, strengthening expectations that the Federal Reserve (Fed) will lower interest rates in the near future. Additionally, geopolitical tensions in the Middle East have also contributed to the increased demand for gold as a safe haven.
Observing the technical chart, the gold price is drawing a very positive picture. With strong support at $2,638, the precious metal is showing a robust uptrend. If gold successfully breaks through the resistance level of $2,660, we can fully expect a powerful new price rally, opening up attractive opportunities for investors.
This is my analysis. What about you? Do you agree with me?
TATA STEEL - When Waves are Messi don't try to be a GOAT. Tata Steel is in this Upward sloping Channel since June 2022 all the rise looks messy means all pullbacks have over lapped with previous rise so instead of forcing Elliott Wave we will try to study it with simple technical approach.
We have drawn a trendline connecting lows which has held 4 times & which was also 50 Week Moving Average so buyers are happy to go long at 50 WMA & this trend line support.
Supply comes from parallel channel of this trendline so looking at his chart risk reward looks attractive for buyers as of now.
Weekly close below 147 will be sign of bulls losing control as of now longs looks good for short term to medium term view.
I find people marking everything as impulsive or corrective but when you cannot spot a clear wave structure better to avoid the stock if its low volume or KISS (Keep It Simple Stupid) strategy works best.
Gold Price Surges UnexpectedlyHello everyone, this is Alisa. Today, let's join me in updating the latest developments in gold!
The gold price surged significantly, reaching 2,644.18 USD/ounce. The main driving force came from the U.S. inflation data released this morning. Specifically, the U.S. Consumer Price Index (CPI) increased by 0.2% in September, which was lower than expected. This eased inflationary pressure and prompted investors to pour money into gold as a safe-haven asset.
Observing the 1-hour technical chart, Alisa noticed that the price within the channel had gained strong upward momentum. This was truly a rebound after a brief period of decline for the metal. With support at 2,628, gold’s upward trend has resumed. Additionally, technical indicators like RSI and Stochastic are also giving buy signals.
What a volatile day! How about you all? Do you think gold will rise or fall?
Gold: Bulls seek $2,647 breakout and US data validationGold prices continue to recover after the US inflation data, despite staying within a two-week bearish trend. Early Friday, buyers look forward to the first readings of the University of Michigan Consumer Sentiment Index and Consumer Inflation Expectations for October, along with the September Producer Price Index (PPI).
Bulls brace for fresh record high
Whether it's the US Dollar's muted reaction to better-than-forecast Consumer Price Index (CPI), optimism around potential stimulus from China, or expectations of softer US data, gold prices aim for a fresh all-time high. Technically, the recent breakout above the 100-SMA, bullish MACD signals, and a positive RSI (14) reinforce the upward momentum.
Technical levels to watch
Among the key technical levels, $2,647 gains immediate attention as it comprises the top of the bearish channel, a break of which will defy the fortnight-long bearish chart pattern. Following that, the precious metal’s quick jump toward the all-time high surrounding $2,685 can’t be ruled out. Moreover, a clear breakout past $2,685 would signal strong momentum for gold buyers, potentially paving the way for a rise beyond the $2,700 mark.
On the downside, the 100-SMA at $2,636 provides immediate support for gold prices, alongside an upward-sloping trend line from early August near the $2,600 mark. If XAUUSD falls below $2,600, the focus will shift to the bottom of the bearish channel and the 200-SMA, which are near $2,595 and $2,580, respectively. Notably, if prices break below $2,580, gold could enter a short-term bearish trend, potentially targeting the $2,540-$2,530 range.
Upside looks promising
With expectations of lower Fed rates and potential softness in upcoming US data, combined with bullish technical indicators, gold prices seem poised for upward movement. This bullish outlook could change only if the US statistics challenge the likelihood of two more rate cuts from the Federal Reserve, which would negatively impact the US Dollar—an outcome that appears unlikely.
