As you can see on weekly chart of gold futures GC1! It has bounced off 50% Fib level. Is it going up to 1338-1340 price point before it pauses again?
Note, I used some nice tools on the chart that tradingview provides. I have added fictitious trade to show nice risk to reward if entered at current levels.
This is not a recommendation or advice to trade. It is...
GOLD is expected to RISE now.
The reason why we feel GOLD may Rise.
* To Rise and come near 1234 levels
* Stoch RSI (3,3,14,Close) is SINKING.
* RSI (14,CLOSE) is SINKING.
* CCI (20,CLOSE) is SINKING.
Keeping all the above indicators in view along with the chart pattern we expect it to Rise. Our LONG call shall be from LONG @ :1224, SL: 1221, TGT 01:1238. The...
We expect GOLD to rise
STOCHRSI is rising.
RSI is indecisive.
CCI is indecisive.
Long Gold above: 1270.23 SL:1264.94 TGT 01:1283.62 TGT 02:1289.47 TGT 03:1307.48
Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing.
What's really more important about this chart is XAUUSD broke up the $1,200 level, an important historical level. It's still on bullish trend which might take it to $1,300 before it retraces to test $1,200.
Today's Chart - XAU/USD
Overview :
Gold gave up some of its sharp overnight gains on Friday, but held above $1,200 an ounce as a drop in equities stoked fresh safe-haven demand for the metal.
On Technical charts, Current trend of Gold is bullish, it has given upside breakout from downward sloping trend. Now market is making higher top and higher bottom...
XAUUSD (GOLD) Looking for Long.
because Gold have a Support area with Fibo fan level of 0.5.
and also Gold have Support and Resistance area. and gold have Divergence area,
so it should be up.
Gold is making invested head and shoulder pattern. Wait for H4 closing above 1076 and go long with targets of 1105-1130-1150.Primary target is 1105 but Fomc....splitting trade in 3 positions is a good idea.
Stop is 1044.
