1. take support on 21 EMA.
2. close above 200 EMA
3. long buildup in futures.
4. 190 to 194 multiple support . ( 21 EMA, weekly CPR)
5. 214 weekly chart resistance .
5. RSi above 50 since last few weeks.
one should consider to buy around 195 ,,stop loss 190 ,, target 214 .
1. RSI is in overbought zone.
2. DOJI candles with lower high
3. upside 60400 target,
4. not week but one should enter when cross the all time high, or brent cores 84$ and close.
5. trading above weekly CPR.
high chances of retracement .
1. silver etf is about to launch (+ve for silver)
2.festivel ahead (+ve for silver)
3. weekly trendline(white one) is far and support is at faverable point.
4. rising bond yield and china crisis is still at front.(+ve for silver)
one should look for buying opportunity.
1. Cup and handle pattern on daily chart. ( handle is in under construction.)
2. china energy crisis.
3. rising dollar $$
4. increasing bond yield
5. OPEC countries are unable to increase crude production as per demand
All above are the indication of crude might see new high. one should look opportunities to buy.
A triangular pattern is about get completed on daily chart.
rising dollar putting pressure on gold prices but their is higher chances is may go up before festive season.
instead of entering in any trade one should wait for confirmation.
momentum indicators are in week zone.
IF any profit booking comes . then with resistance ( white line) as a stop loss, one can short.
but if market shows weakness one can take a short call ( RSI divergence pointing towards the weakening momentum)