Pivot: 1595.50
Our preference:
long positions above 1595.50 with targets at 1610.00 & 1614.00 in extension.
Alternative scenario:
below 1595.50 looks for further downside with 1588.00 & 1584.00 as targets.
Comment:
the RSI is mixed to bullish.
Gold has been in uptrend for some time, It has broken a major trendline some time back.
Its recent high or 1610 USD or 41300 Rs. is likely to be exceeded soon.
Pivot: 1582.00
Our preference:
long positions above 1582.00 with targets at 1590.00 & 1594.00 in extension.
Alternative scenario:
below 1582.00 look for further downside with 1578.50 & 1573.50 as targets.
Comment:
the RSI is bullish and calls for further advance
Pivot: 1578.00
Our preference:
long positions above 1578.00 with targets at 1585.00 & 1590.00 in extension.
Alternative scenario:
below 1578.00 look for further downside with 1573.00 & 1569.00 as targets.
Comment:
the RSI is mixed to bullish.
I analyzed the market to capture the upcoming movements based on my technical knowledge . This idea is completely my view for knowledge purpose i'm sharing this .
#Gold 1H chart given #bullishbreakout now Gold can move towards 1585-1590 levels in next few days with the help of 1574 support level.
#1578-1580 level will be good for entry (CMP 1580)
#Technicalanalysis
Pivot: 1505.00
Our preference:
long positions above 1505.00 with targets at 1610.00 & 1695.00 in extension.
Alternative scenario:
below 1505.00 looks for further downside with 1445.00 & 1400.00 as targets.
Comment:
the RSI lacks downward momentum.
Pivot: 1568.00
Our preference:
long positions above 1568.00 with targets at 1577.00 & 1581.50 in extension.
Alternative scenario:
below 1568.00 looks for further downside with 1565.00 & 1561.50 as targets.
Comment:
the RSI is bullish and calls for further upside.
Pivot: 1573.00
Most Likely Scenario: short positions below 1573.00 with targets at 1564.00 & 1560.00 in extension.
Alternative scenario: above 1573.00 look for further upside with 1577.00 & 1580.00 as targets.
Comment: the RSI advocates for further decline.
One candle stick remaining to complete the flag that is march. After hitting the April high we can expect decline in a same pace. And the April target is $1700 .
