As per sine wave a analysis, now crude has enter in the down side zone and as per the gann angle it will move towards narrow downside range will see a crucial bottom level of 9-10 doller in april 2021.
Gold or xauusd is moving in a bullish channel on weekly charts.
Friday's top has touched this very line and closed a couple of dollars lower.
Breakouts on weekly channels are not seen very often, a cautious approach is a must at these levels.
I would wait for more SELL signals on other indicators before going short, 4-5 $ above the trendline will be the stop...
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1642 is a good support for Gold too, use it as stop for long positions
and if broken, shorts can be initiated for an immediate target of 1631 followed by 1619.
1650 can be used as stop.
1642's rupee equivalent would be 42300-350 level.
Fresh longs only when (and if) 1650 is exceeded decisively.
The weekly is favored turning up above 26.34 lows from 2/11/16 & the daily is turning down against the 77.01 highs from 10/3/18. Nearer term while above the 49.30 lows where the 4 & 1 hour are turning up it can correct the cycle lower from the 10/3/18 highs.
CRUDE NEED TO BREAK 51.3 DOLLAR AND CLOSE ABOVE IN HOURLY TF.. IF IT HAPPENS, THEN WE CAN SEE A HUGE BULLISH MOVE IN CRUDE IN COMING SESSIONS.
EXPECTING 1ST TARGET TO BE 53 DOLLAR++++
WAIT FOR THE BREAKOUT AND ENTER
SL WILL BE 49 DOLLAR
Buy if it breaks the neckline (If the neckline is not broken it will fall badly.). It may resist at the first line.
Here is an example how cup and handle works -
In case if it doesn't work it will be sell setup -...
18.442 lies on a trendline that has supported XAGUSD multiple times, since Feb 17-18.
A break below this level can initiate selling or correction in overbought markets.
Targets on the downside can be, 18.41 - 18.31 - 18.22 - 18.19.
18.56 can be used as S.Loss for short positions.
Momentum is strong sofar, 18.41 or corresponding level can be used as a stop...