Gold in triangle once more
Resistance Levels: 1932.86, 1936.31, 1912.32, 1918.52, 1950
Support Levels: 1862.11, 1886.89, 1849.96, 1832.30
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I haven't done an update on Gold in a while, here is where we stand right now
Since August 6 2020 we have been working a very tricky complex correction WXY where wave W is a Zig-Zag wave X a Triangle and 3 waves down (ABC) for wave Y.
We are still working on wave B (expanding triangle) of Y. I will be looking for short entries once a breakout...
Here, once again analysed in which technically it show some positive signs of bearish structure. As, we know 1,2 opposite candles cannot change the trend same here as still its on correction & last day we see some fake move of gold. The area of selling is mention in this idea whereas the level about @1931 is good for buy trades.
Also the US elections are going to...
currently, we are seeing price respected the uptrend channel, it indicates that we are still on a bullish trend. we have room to go up for +490 pips if the buyer manage to push the price to the supply zone at around the 1946 level
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of...
Looking at the Gold Chart, there isn't much we could add. The chart says it all. We think that wave 3 in green is completed, and at the moment, the corrective wave 4 is underway. After wave 4, we expect the downtrend to continue. The target is the area at around $1800. Our scenario is valid as long as we do not reach prices above $1908. Should the bulls break...
After a huge accumulation in this area 1880-1920 the price has reached a very important area . I expect a rather ranged session today, unless Wall Street opens with positive Stock markets gap which will add Bearish pressure on Gold . I remain Bearish on Short-term with Stock markets chart as my main point of interest. I am sure in Selling outlook but without...
The market broke up the level of 61% successfully, we are still above the VWAP and the 200ma, with all of these indications we can estimate that the market will continue in a bullish trend, if we analyze the volumes in the last 48 hours, we can see that the buyers are still in control,