Trend line broken on the 1D, look for a close above 1140 today to confirm break.
Excellent opportunity for going long in Gold. Great risk reward.
Wide view at GOLD - from MN3-->MN1-->W1 All important S/D ZONES and levels marked at screen Now w8ting for price behavior at MN & W1 DZ At lower TF still shorts Good luck and.... patience ;)
descending channel on monthly. Middle Line crossed down-side. possible Supports ahead 1. 1040 which is previous pivots, fibo bounce zone (127%). 2. 950 which is the channel bottom line and stronger fibo bounce zone 161% golden percentage.
Gold has retraced to Fib level 76.4 !! RS I - over sold Buy on Weekly Charts Gold is charting ABC correction path of which wave b is in play !! On the other hand Dollar Index has run ahead of itself - it needs to cool down !! Target of 1500 by April 2017 Stop Loss at 1100
Gold Trding around 1130-1131 level Where Strong Weekly bottom Seems around 1118 level. If hold above 1118 we can see a corrective move toward 1150-1155. where if breaks 1115 and hold below next target may b 1050-1065. For not will advice buy with small lot in range of 1130-1122 sl must be below 1115 and tp 1145-1150 where if breaks 1155 and hold on daily...
just tossing the idea out there- looking for a bounce around 1100-1120. bull cypher about to complete
Gold holding Strongly above 1162 as corrective move we can see upward 1188-1194 where Breakage of 1194 may call for 1205-1210 . Where monthly Strong support seems around 1157 level breakage of 1156 may call for 1120-25 Advice to buy in range of 1169-1162 sl 1156 TP 1188
As you may know or not, Gold use to have a seasonal drop Nov-Dec then to bounce up Jan-Feb. Look at the chart and you will see how many times that happened, i am not saying it will happen now again, but there is a big possibility for that. I personally think it may have another drop before we can see a bounce up. In both case i am only looking for buy setups on...
Gold Trading around 1177. Gold Seems strong support around 1156-1158 level. If hold above 1156 we can see toward 1198-1210 Where if daily closing above 1223 may Give Bullish sign overall below 1223 Gold point for 1120-1125. where if breaks 1156 then we can see 1120-1125 soon. Weekly Range 1156-1223
Same time of year, fractal from last year overlaid. 38.2% fib is not great support, but a great RR if you believe it. Oversold as well.
I believe there is currently a strong bullish divergence in the RSI and MACD. My TP is 1250$, and I will re-evaluate gold when/if we get to that level. We are currently making higher lows in both the MACD and RSI (while the price decreases), which leads me to believe we will see a strong up move in the following days. My advice is to avoid listening to the gold...