chinmaywakode

chinmaywakode

As we can see bullish trend continued for 4 weeks Short sellers are trapped who shorted near 2620 2645 2656 2673 2688 2696 Market will expected to take their stoplosses at 2794 or 2825 Then 80 to 100 dollar fall is expected. Exit all longs below 2762

chinmaywakode

I think bottom red line will not be touched to keep bullish view intact.

chinmaywakode

As shart shows 3 Red- 1 green 2 red - 1 green 1red - 1 green we can expect. If gold want to go down then to make M pattern, it will go up If gold want to go up then also it will go up... Look very childish and simple But keep it simple We can expect 2693 and 2743 coming probably till 13th january. Our view will be absolutely wrong if gold gives day closing...

chinmaywakode

Downtrend will reverse as shown in 2nd channel Be ready for Gold upmove Wave.... Make long positions Current rate 2636 SL only 2630 Target 2693 2743 2789

chinmaywakode

Bearish trend of gold may break if daily close above 2675. Immediate resistance 2648, 2655, 2675,2720

chinmaywakode

As chart suggest Above 2652 target 2674 with SL 2549 Below 2654 target 2636 with SL 2659.5 RANGE for monday 2674 to 2636 Higher possibility of Bears to get control. After reaching 2636/2674 reversal may be expected...

chinmaywakode

1st target 2620 2nd 2589 3rd 2575 Strict SL 2642.4

chinmaywakode

Pattern is negative, with bears controlling gold. SL 2644 target 2620

chinmaywakode

As the trending up channel has been broken with SL of 2686 one can go short on every up Best short at 2661 2653 and risky traders can short at 2643 for the target of $2500 Yes there is support at 2589 but partial profit can be booked there with revised SL of 2619

chinmaywakode

With strict stoploss below cyan colour line Go long with target 1 and 2 ahown by green lines.

chinmaywakode

Gold touched low of 2615 from 2715 by the ceasefire news. As it makes a low and broken resistance of 2625 Now its 1st target 2643, 2nd 2660 3rd 2685.