Borken out of Pattern ... iF it closes below 1900$ then lower levels near 1800$ likely
Supports are clearly shown
DX1! along with US10Y rising are bad for precious metals which could be the other reason
price is in side ways phase on medium time frame
which mean on lower time frame price will react as buy on low and sell or rise
the range is 59050 resistance and 58280
currently the price is trading at resistance level
on 15m triangle pattern is forming , which is in between of medium time frame pattern , on medium time frame there is bearish flag so im...
GOLD FUTURES (MCX)
continued to decline from the 59900 lvl and has broken the mtf support of 58135
with a gap down
price then retested the support, (as the support breaks it will act as resistance now)
similarly we seen a rejection and price coming back to day low
further if the day low is taken out, we can project the price heading towards its higher time...
gold spot eys on 1895 if hold blw thna mkt test dwn 1895--78$ only abv 1903 looks sharp dedcat bounce till 1907--1913$ more in trade hrs-- whre mcx gold esy on 58350-300 if sustain blw or close blw thna looks dwn 58129-57780+++++ yes last history may be repeat-- more update stay tuned with us after lvl sell on rise sl strict use further update stay with us...
Gold is taking support at Green Thick Horizonal Line, which is high of the previous swing. Let it retrace fully and time correction be over in 5H Chart. Will test the level of 2040 or more.
Please use other indicators like Williams R%, RSI, SMAs and EMA for proper execution and adhere to risk management.
Disclaimer: The Author of this content is not a...
