SunilKumarDixitSKCharting

SunilKumarDixitSKCharting

Gold is likely to revisit 2806-2812 and return to 2790 support. There's a growing possibility of drop lower towards 2785-2775 followed by 2765 major support. Since immediate trend has turned bullish with new All Time High set at 2817, new batch of buying is likely to resurface on the test of support base and resumption of uptrend may be witnessed targeting 2828...

SunilKumarDixitSKCharting

Gold faces selling pressure as bears seem to gain control. As long as the metal maintains stability below 2770, selling is likely to extend towards 2745 followed by 2730 Strong consolidation above 2770 will resume upside move towards 2785

SunilKumarDixitSKCharting

Gold is seen facing resistance and selling pressure after witnessing retail traders preferred to book profits as price action lacked strength to surpass $2700 As long as the metal trades below immediate resistance zone $2670-$2675, downward shift in momentum is likely to extend towards $2660-$2650-$2640 On the flip side, strong break above $2675 will push the...

SunilKumarDixitSKCharting

Gold has been trading with a bullish bias and 1 hour 50 EMA 2664 acts as local demand zone. As long as this zone 2665-2660 is active support, our view is that gold will continue to extend bullish advance towards 2685-2690 and further march towards 2700-2710 in near term. If 2660 breaks, expect retracement towards support base 2650-2645 Break lower would...

SunilKumarDixitSKCharting

As Gold drops from record $2790 to $2577, this $213 fall may be considered as Wave A Correctional wave 1-2-3 may follow up from this $2577-$2572 zone and a recovery rally may begin targeting $2630 & $2660 in near term.

SunilKumarDixitSKCharting

Rising dollar keeps hammering gold's safe haven demand despite looming geo political concerns as Trump effect dominates markets. A $73 intraday drop from day high of $2686 pushed the yellow metal to $2613 The low comes in close proximity to swing low $2602 If bulls succeed in reclaiming stability above this low, next resistance comes at $2650 Recovery above...

SunilKumarDixitSKCharting

Gold maintains stability above 2650 and stays afloat above critical support 2646, thus we maintain our bullish bias with required confirmation of break above 2670 for advance towards next leg higher 2690 followed by 2710

SunilKumarDixitSKCharting

Gold maintains stability above $2600 and reached new record high $2640 A temporary retracement is retesting immediate support zone $2623 which is likely to attract buyers. If this support breaks, expect a drift lower to next point of interest $2613 On the higher side, Gold is likely to retest $2640 above which markets may witness bullish extension claiming $2660

SunilKumarDixitSKCharting

After gold faced strong rejection from $2484 triggering a $100 sell off that caused a drop to $2384, some pause in selling pressure is visible as price meets support zone 100 SMA $2387 on 4 hour chart. Immediate resistance is seen dynamically positioned at $2402 which if cleared, can extend relief rally to reach 50 EMA $2416 Further upside depends on strong...

SunilKumarDixitSKCharting

Gold recorded new all time high at $2483 and faced strong headwinds to fell significant $90 from high to test $2393 before settling at $2400 Breaching $2393 calls for extended correction to $2388-$2383 while 4 hour time frame chart shows 8 continuous bearish candles indicating oversold conditions calling for interim rebound towards $2413-$2426-$2440 while $2440...

SunilKumarDixitSKCharting

Gold has gathered traction reaching $2424 though weekly settlement is seen at $2411, below $2416 which may act decisive for further upside. If $2416-$2424 zone is not breached, there's high probability of retracement towards support $2386-$2378 before resumption of bullish wave. Buyers are likely to resurface at the correction for value bargain causing strong...