gold bearish setup price hovering near high time frame resistance zone
let price pullback to 59520 - 59475
stop loss 59700
target 59050 and 58850
*adjust qty size as per risk or stop loss*
GDF1! trade ideas
gold mcx or silver crudial updatesell gold 59070--100 sl use must for spot price1926 tgt 58920--750+ silver stya blw 71800 looks dwn fall 71300-71110+++ expect spot blw 22.90 looks dwn 22.70-50
OLD, an technical insight for the coming week 21.08.2023Gold Analysis for the Upcoming Week on MCX, India
Date: 20th August 2023, 18:03 hours
Technical Overview:
Recent Performance: From 8th May to today's date, gold prices have witnessed a significant decline of approximately 5.49%.
Moving Averages: The gold price has recently breached the 50-day moving average, which stands at 58,980. The 200-day moving average looms at 57,586. The cross below the 50-day indicates a bearish momentum in the short term.
Potential Move: If gold price approaches the 200-day moving average of 57,586, there's potential for further downside towards 56,048.
Oscillators: The asset is currently in an oversold condition, which can sometimes indicate a potential rebound. The optimistic signals stand at D: 6.54 and K: 3.21.
MACD: The Moving Average Convergence Divergence (MACD) is still hinting at a bearish scenario, suggesting continued negative momentum.
Fisher & Percentage R: Both indicators are positioned at the lower end, hinting at a potential bearish continuation.
Fibonacci Levels: Post touching a low at the Fibonacci level of 57,653, gold made an upward move and attempted to break above the 0.5 Fibonacci level at 59,751 twice between July and August. However, it failed to sustain this and reversed its direction, breaking past the 0.382 and 0.236 levels. Current trajectory points towards a retest of the 57,653 level.
Target Price for the Week: Considering the above technical factors and absence of any significant strategic updates from the Federal Reserve regarding interest rates, our projected target price for gold in the near term stands at 57,612.
Disclaimer: This analysis does not provide any specific trading or investment recommendation. It is essential to note that the movements in gold prices can be significantly influenced by various macroeconomic factors and announcements from the Federal Reserve. Always consult with a financial advisor before making any investment decision.
Disclosure: We do not have any vested interest in the gold market We may or may or maynot be having positions in the gold. This analysis is purely based on technical indicators and past market data.
Gold Taking formation of triangle patternSome selling is expected in gold
Major support near 58700 followed by 58400/58000
Resistance near 59100.
GOLD VIEW expect Trend Change trww . Trend change dates mentioned on the chart.
Trend change cld be :
from up to dwn or sideways
or dnw to up or sideways
or sideways to up or dwn
gold mcx crucial update blwsell gold 59420@--470 sl 559 tgt 59120 yes gold spot blw 1932 sustain than nxt dwn fall 1925--20+++++ looking sharp correction here trade with sl
gold more update blw blw 59330 already gvn 59520 blwgold more update blw blw 59330 already gvn 59520 blw-- now if stya blw 59300 soon 59230--150+++ expect alreay sell gvn blw 1938 gold spot dwn side only 1933--30++
sell gold blw 59520 sl 599 tgt 59428---380sell gold blw 59520 sl 599 tgt 59428---380 v blw 1948 expect 1944--42 looking dwn fall for profit booking
gold mcx sustai abv 59577 buy on dipssss soon 59700-800++gold mcx sustai abv 59577 buy on dipssss soon 59680-800++ keep tight sl must abv 1952 spot may be fire till 1957++++ data slight some bullion
buy gold dips on sl 59281 tgt 59470--550++ small sl use buy gold dips on sl 59281 tgt 59470--550++ small sl use must data ahead looks daily chart breakout up side 1945--+++++
gold spot or silver spot mcx gold silver crucial update blwdid u see firboom in gold silver mcx or gold spot gvn gold abv 58950 silver 74000 abv spot also gvn 24.35silver or gold abv 1924 or 1932 also hit 1938 or wet nxt 1945 silver 24.70 hit almost enjoyy will more update soon
GOLD(GC1!)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
buy gold 59050 abv sl 58949 tgt 59180--270buy gold 59050 abv sl 58949 tgt 59180--270 data strongly positive for gold silver also looking abv 74000 looks up side 74700++ buy on dipsss sl 73577
GOLD FUTURES (mcx) update 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 keeping my bias on sell side
and predicting that price we make breakout from triangle pattern and then form a fake out
and price will try to go back at support of 58500-58250
this is my pov dont trade blindly on it use it as a confluence for your own analysis
gold silver update after report or powel speechgold sell gvn or silver sell gvn hit tgt hope u enjpoyeddddd now esy on jackson hole results await
Mcx gold buy above 58845 stop 58700 tgt 58940 next 59080 ..59200Mcxgold risky buy above only 58845 stop 58700 tgt 58940
Next59080 final 58200++
Gold - Execution Levels for today and tomorrow
Stay tuned and check my previous posts on Gold. Link provided.
Please trade with proper discipline.
Thank you
Gold sell mode below 58770 stop 58870 tgt58720 next 58630Intraday wise looking down'side only below 58770 check tgt and and exits
GOLD continue to decline again...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 frame demand zone which is around 57650 and 57800 lvl
if youre interested in creating fresh short side pos make sure you follow the lower high and lower low formation as there will be certain bounce when the bearish sign starts fadading
Nice opportunity in gold futureRecently break resistance
Look for pull back if support not break idol for entry long
gold update blwgold stya abv 58680 looks blasttt 58780--850++++++++ buy on dipsss with sl 58525 yes looks fireyy on daily chart abv 1908 looks zoom till 1913--17
