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Latest gold analysis☘️Fundamental Analysis
Gold prices witnessed an intraday reversal from an all-time high and fell below the psychological $2,500 level after the release of key US monthly employment data on Friday. The mixed US employment report reduced the chances of the Federal Reserve (Fed) cutting interest rates by 50 basis points, which prompted some cover in the US dollar (USD) prices and weighed on the precious metal.
That said, concerns about a US recession dampened investors’ appetite for riskier assets and acted as a driver for safe-haven Gold prices. Additionally, the lack of progress in ceasefire talks between Israel and Hamas became another factor supporting XAU/USD during the Asian session on Monday. This warrants caution for bearish traders amid the prospect of an impending Fed rate cut cycle.
☘️Technical Analysis
Gold is below the 2500 round port level, in fact this port area is no longer strong enough to push gold prices lower. The area of interest in today's European session is around the 2507 Fibonacci 0.5 retracement zone and the 2512 Fibonacci final extension zone. These are two areas of interest for a SELL plan. When 2512 is broken, the downtrend on Friday is reversed. The main candle h4 is broken and ATH comes early this week, the expected level is 255x. The 2331 area is no longer valuable when gold pushes up. The opposite direction is the 2470-2460 2433 area playing an important support role.
🌸Trading signal
SELL zone 2505 - 2507 Stoploss 2511
BUY zone 2484 - 2482 Stoploss 2479
BUY zone 2473 - 2471. Stoploss 2467
HINDALCO Support and Resistance HINDALCO is currently in negative trend. If you are holding short positions then continue to hold with daily closing stoploss of 685. Fresh long position can be initiated if HINDALCO closes above 685 levels.
HINDALCO Support 663 - 658 - 651
HINDALCO Resistance 674 - 681 - 686
BTCUSD // Levels // 1h"Welcome to SkyTradingZone "
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BTC/USD (Bitcoin to US Dollar) on the 1-hour timeframe:
Support Levels:
First Support: $25,500
Second Support: $25,200
Third Support: $24,900
Resistance Levels:
First Resistance: $26,000
Second Resistance: $26,300
Third Resistance: $26,600
SENSEX // Levels // 1h"Welcome to SkyTradingZone "
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As of today, the BSE SENSEX is at 81,183.93 points, having dropped by 1.24%
Support Levels:
First Support: 80,950
Second Support: 80,700
Third Support: 80,450
Resistance Levels:
First Resistance: 81,200
Second Resistance: 81,450
Third Resistance: 81,700
#BLISSGVS The stock made a rounded bottom from 2020 to 2022#BLISSGVS 💕 The stock made a rounded bottom from 2020 to 2022, and it appears to be in the process of forming the handle, which suggests a bullish continuation if the stock breaks out above the handle resistance level.
The stock has been in a sideways trend for a significant period, especially between late 2021 to mid-2023.
Recently, from early 2023, the stock has shown bullish momentum with higher highs and higher lows.
The current price action is testing previous resistance around 130-135 INR ,indicating a potential breakout.