Start Trading at the supply zone of Gold. The bearish trend may set up but not a big drop yet. Anyway we will wait next week data analysis where will the confirm market trend. Risk Management with the right position sizing is recommended for every traders.
Have a nice day week trade.
Gold is favorite tool for Hedge Fund managers and other big players, They discussing now if Stocks on peak and can get correction so they will join Gold to defend their portfolios.
Gold range 2200 for upcoming weeks and months.
Overall it's a descending trend. According to the Stoch RSI, It will continuously fall. So, intraday traders can sell GOLD now nearby dynamic resistance (DR) trendline for the target of 50000 - 49600 .
If gold will breakout the DR, don't selloff.
At present, we have chances to see the following levels before this weekend: 50560-50700 .
Please keep your...
Gold just broke the range it created in past 40 trading session, though wait for the day's close below 1910 levels for confirmation.
Next support on daily comes around 1800 level.
Major support comes around 1700 levels
Based on Trend Buy and Sell Indicator (TBS), Gold is in uptrend identified by 100 week ma. In the next few weeks TBS is suggesting a pull back into 30 week ma which has proven to be a good support level historically in uptrend.
For this chart I have used parameters suggested i.e Trend Moving Average = 100, Support Moving Average = 30, Motivation Buy = 1,...
Gold historically had a negative correlation to stocks and other financial instrument.
With our reality change we can c gold leading the stock markets?
can we point out the reasons?
1. Most ppl hedge their portfolio with gold for Diversification
2. Weakness of the u.s Dollar
3. Financial uncertainty
4. World tension
5. Increasing Demand
A cup and handle pattern seems like forming on Gold-USD pair on a weekly timeframe. If you watch it closely, its also forming an inverse head and shoulder as I have shared previously. Though the long term outlook is positive, in the short term, a correction looks highly probable.
HERE IN #GOLDANALYSIS WE ARE SEEING THAT GOLD IS RISING AS #USD IS WEAK, SO, I'VE MENTIONED SOME AREAS FROM WHERE WE CAN BUY & WHERE IT TAKES REST.
WE HAVE A VERY #STRONGSELL AREA OVER @1780-@1790 AS IN THE #HISTORY OF 2006-2007 IT HAS MADE A VERY #STRONGRESISTANCE OVER THERE & FROM THIS RESISTANCE 90% SELL SIGNAL IS CONFIRMED BUT WHAT IF IT BREAKS THAT AREA AS...