Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1357.42). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. Gold is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
....
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Trading suggestion:
. There is a possibility of temporary retracement to resistance support line (1280.90). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. XAUUSD is in a range bound and the beginning of downtrend is expected.
. Price is below WEMA21, if price rises more, this line can act as...
W1 cycle,Prices have risen above the horizontal resistance band.
The future price is likely to continue to rise along the upward trend line.
The target bit is in the Fibonacci 100% and 161.8% extension.
Feel free to contact me if you have any questions!!
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TP1 1454
TP2 1568
----------------------------------------- 2019.07.18 in
Gold is now trading under the ascending trend line resistance after a big rejection in weekly chart, as well as in daily chart too. And RSI also on Over bought zone.. Here I think it has chances to come down to touch its support line @ 1365.
Gold Clear cut told current Batch students ...gold thoko @ 1428.....!!
Now cmp @ 1407....isko bolte h power of stockmarket Language !!!
Jo aapko sikhna hi padega !!!
chadte hue market ko bola thoko !!!
party to abhi shuru hui h !!!
#learnwithKING #kingresearch
Gold price is widely followed in financial markets around the world. Gold was the basis of economic capitalism for hundreds of years until the repeal of the Gold standard, which led to the expansion of a flat currency system in which paper money doesn't have an implied backing with any physical form of monetization. AU is the code for Gold on the Periodic table of elements, and the price above is Gold quoted in US Dollars, which is the common yardstick for measuring the value of Gold across the world.
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