While the price is below the resistance 2075.05, beginning of downtrend is expected.
We make sure when the support at 1851.00 breaks.
If the resistance at 2075.05 is broken, the short-term forecast -beginning of downtrend- will be invalid.
While the RSI resistance #1 at 62 is not broken, the probability of price increase...
Here I have compared Gold Spot (CFD) with Indian MCX Gold to identify this week's trend.
In the chart, there are two different support levels. Wherein support level 1860 is for gold spot, and 49260 for the MCX gold.
I have used moving average and volume on Indian gold. At present, 50 MA is turning downside. If it breaks the parallel channel (PC), gold will...
While the price is below the resistance 1920.00, continuation of downtrend is expected.
We make sure when the support at 1747.50 breaks.
If the resistance at 1920.00 is broken, the short-term forecast -continuation of downtrend- will be invalid.
The Falling Wedge taking shape and as a bullish pattern suggests we will soon...
Gold against Dollar, have been seeing the bullish trend right from the 1st of October, reason could be weakening US Dollar , strong fundamentals have contributing the bulls of this pair particularly US Elections also joins, Last week the sudden rise of Gold is expected to go Long for at least next few days in the coming week.. may be till 15-Oct till at the price...
Silver rallied up in three waves - and has now completed and a-b-c structure. The fall in the last 30 mins could accelerate and take the issue to new lows. Watch the indicated risk level for exits if caught on the wrong side.
GOLD BREAKS RESISTANCE AND NOW ITS WORKING AS SUPPORT SO POTENTIALLY GOLD CAN REACH OUR NEXT RESISTANCE POINT and CUP HANDLE PATTER RESISTANCE POINT TOO that IS 1732 level WHICH ALSO HAS OUR SELLING ZONES IF IT FAILS AT POINT AND DROPS AGAIN SO I ALREADY GAVE IDEA OF OUR SHORT ENTRIES AND IF IT KEEPS SHOOTING UP AND BREAKS OUR RESISTANCE WE GOING FOR LONG AFTER A...
Last week bearish scenario in Gold against Dollar pair, may continue this week, price may go up to the price area of 1925 , where the Resistance for this set up, from there it expected to continue its bearish move this week,
Note- Analysis given for education purpose...
Gold prices continued to move sideways on the back of multiple events and updates floating in the market, although if the metal could not keep up pace it will be on the track for its first weekly decline in three weeks for the metal. On the bright side for the metal yesterday, President Trump announced that he is willing to raise his offer of $1.8tln for a Covid...
The daily right side is up against 8/16/2018 low at 1159. The 4 hour is turning down against 2075. While above 1848 where the hourly is turning up Gold can correct the cycle lower from 2075 before another swing lower to correct the cycle up from the March lows.
LONG @ 1900-1897
GOOD LUCK !
". There is still a possibility of temporary retracement to suggested resistance line (1909.00).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
. XAUUSD is in a downtrend and the continuation of downtrend is expected.
. The price is below the 21-Day...