07 MAY 2021
TIME FRAME: DAY
BUY ABOVE: 48320
STOP LOSS: 47751
TGT 01: 49577
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This metal is in buying pressure currently. Please consider the buying and selling levels and maintain the stop loss while trading.
*Disclaimer : I just shares my view. Please trade with your own and comfortable ideas.
Gold is taking reversal from the strong support (SS) level ( 48635 ). And at present, it's very close to the SS. Can we see a reversal again?
If gold remains above SS, then it can touch the following levels: 49000 - 49200 - 49400
But according to RSI, MA, & DMI, it seems in a downtrend. So, if MCX gold breaks the support level, we may see the following...
In the last two weeks, MCX gold has lost -2003 points. We may see a continued downtrend up to the support line (Range: 49600 - 49200 ). Intraday traders can play between freefall by taking it as a target.
As mentioned in the chart, the double bottom pattern will complete when the price fails to break past the two bottoms and heads back to the...
Gold is performing in the parallel channel from 22 Sep. Recently, the moving average has tried to crossover but failed. And volume spike is a direct sign of an uptrend. It's sharply moving forward.
As I updated on Oct 19, gold is trying to climb upward after hitting the...
Since the last two months, GOLD has seen tremendous movement in both sides.
Few trading sessions back, I had posted to hold LONG positions has the GOLD was hovering around our Bearish Zone.
We have seen a RSI Trend reversal and the GOLD has recovered quite a bit as the market is consoldating (which has been the mood in the last few weeks).
Breakout Range: Approx. 3300
Hurdle: 50600 level
At present, gold is trying to recover the previous loss. The support level has broken (flat lower trendline), and it becomes resistance now. We may see the continuation of the downtrend from there. That could fall to the following levels: 49360 - 48760 and below.
Lionheart traders can hold for 48000 to ...
This chart is all about the assumption of the future moves of the gold, which has created by using the Elliott wave patterns of impulsive & corrective waves.
In the beginning, there are impulsive waves which converted into the corrective waves now. Gold cannot keep drilling downward. Before the downtrend begins, we may see the following levels: 51160 - 51300 -...