Gold is approaching a major dual support zone of 49702 and 49245. If these 2 supports are broken we can see a correction in Gold. In case of breaking the supports Gold can go to 48276 or 47362 levels. On the upper side 50352 and 50895 will be major resistances. Everything depends on Pivotal support of 49702. Gold looking really weak here.
The price action of gold has been choppy for the past few weeks, and we are growing increasingly worried about its performance in the face of increasing interest rates later this month. Because of that, we remain bearish on XAUUSD in the short term. Further, we think if the stock market continues to manifest weakness, it will negatively affect gold. Indeed, we...
so buystop on high is good idea and waity 10-15 day pro traders zoom in fibo 61%= 1760 and fibo 161% =1870 Gold love them too much good luck we have 3angel pattern too now can you see it?
Over the past several months, we repeated our concern about gold drifting lower with the stock market. Today, we continue to stick to this narrative and remain bearish on XAUUSD in the short term. However, we are also starting to grow increasingly bearish in the medium-term while staying resonantly bullish in the long-term. Indeed, we think the looming weakness in...
Technical: The near–term support is around $1700 minor resistance around $1720
Gold bearish and near term resistance 1720 and support 1700 RSI momentum strong bearish
Markets eye US CB Consumer confidence and JOLTS job opening for further direction. Gold price showed a minor pullback on US dollar weakness. Technical: The near–term support is around $1720, resistance around $1760,
Like a playful dolphin, gold has jumped above the resistance at $1770, only to dive right back into the blue zone between $1751 and $1709. Now it has to decide whether it wants to do some more tricks in the water or has already completed wave (ii) in blue. As soon as it has finished the counter movement, though, gold should climb out of the blue zone and above the...
COMEX:GC1! Hello everyone! 🛎 Let check the trading idea for Gold Futures 🤗 Not making anything difficult everything is pretty straightforward. 👉 1. Price goes ABOVE the selected range on the picture. Long positions to activate. 🟢 👉 2. Price goes BELOW the selected range. below. Short positions to activate....
Gold futures is at INR 52352. Critical resistance for Gold is at INR 52585. Crossing INR 52585 looks little difficult and Gold will have to struggle a bit. Once the level of INR 52585 is crossed and the futures close above it the target for Gold will be INR 53637. Above INR 53637 the trench between INR 55005 to INR 55806 will be the one of the most difficult...
Gold has risen 5.5% from its July 21 low of $1,680 per troy ounce, as market sentiment suddenly shifted to safe-haven assets in the aftermath of a slew of recession-risk events and rising geopolitical tensions between the United States and China over Taiwan. According to the latest Commodity Futures Trading Commission (CFTC) weekly Commitments of Traders (COT)...
Gold gains after dovish Fed, good to buy on dips Gold price gained more than $15 after Fed monetary policy. Technical: The near–term support is around $1720 resistance around $1740,
Y wave completed at 1695 as 1.62*w any drop below 1695 leads to extension of Y wave ,which in turn GOLD supporters loose more money. my view is wait for confirmation (breach of 1662) before shorting
The plot is thickening! Gold has taken action and has jumped down into the lower green zone between $1737 and $1708. There, it should finish wave 3 in green before hopping into the upper green zone between $1761 and $1796 to complete wave 4 in green. Then, gold should resume the overarching descent until it has reached the orange zone between $1664 and $1529,...
Gold is currently sitting @ support levels on two different trend lines on the daily chart, as well as a down fib extension with a high % of trend reversal to the upside. If it bounces here I'll be looking for an entry on the re-test and confirmation.
On going triple zigzag correction in Gold futures unfolds its third leg of down minimum requirement of wave 'z' is 62% of (w+y) which comes @ 1700. Weekly Price action support is not seen at 1770 which is 38.2% of (w+y) logic; money is tight ,interest is high, Gold will not find any new buyers at this level as all the metal stocks are gliding to earth
Type : Bearish Momentum Resistance : 1834.7 Pivot: 1816.5 Support : 1785.8 Preferred Case: On the H4, with price moving below the ichimoku cloud and within a descending channel, we have a bearish bias that price will drop from the pivot at 1816.5 in line with the overlap support to the intermediate support at 1806.2 in line with the 100% fibonacci projection,...