Get started

Mcxgold

FOMC Minutes: A confirmation for an explosive rally in XAUUSDGold has started collapsing nonstop after Nonfarm Payrolls data. And it stopped at my ' tested many times ' level. XAUUSD has recovered 50% almost in the previous week. The gold spot needs to break the 1793.6 level to start an uptrend. Afterward, it will go for 1806 - 1826 levels. And these levels can push the gold price up to 1900 . But if gold breaks the strong support again, it will start falling. This time, it won't stop! Hence, the short-term traders can start selling from there for the targets of 1744 - 1726 - 1684 . For advance traders, watch significant releases or events that may affect the movement of gold, silver & crude oil. Especially, don't forget to watch this Wednesday's events to find out gold upcoming actions. Tuesday, Aug 17, 2021 18:00 Core Retail Sales (MoM) (Jul) - High Impact 23:00 Fed Chair Powell Speaks - High Impact Wednesday, Aug 18, 2021 02:00 API Weekly Crude Oil Stock - Medium Impact 20:00 Crude Oil Inventories - High Impact 23:30 FOMC Meeting Minutes - High Impact Thursday, Aug 19, 2021 18:00 Initial Jobless Claims - High Impact 20:00 Natural Gas Storage - Low Impact Friday, Aug 20, 2021 Baker Hughes US Oil Rig Count - Low Impact MCX Gold Will Have An Explosive Rally This Wednesday: MCX traders should keep their eyes on the 46720 levels. It's a trend changer. As per XAUUSD, Indian MCX Gold can raise 47500 - 48260 after a breakout of $1793.6 . And if it breaks the strong support of Gold Spot, it will keep falling for targets of 46260 - 45860 .
OANDA:XAUUSD
by forextidings
1
MCX Gold Double Bottom – Potential ReversalIn 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 neckline. Short-term targets: 50900 - 51860 Long-term targets: 53560 - 53400 But if gold fails to complete the double bottom pattern by breaking the support line, we may see continue downward movements. And the gold price will come at/below 48760 - 48000 levels. If it happens, I will update you ASAP. Follow my account for immediate update notifications.
MCX:GOLD1!
by freestocktips
3
MCX Gold Price Trend Analysis & TipsGold 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 parallel channel. And if it remains in the parallel channel, we may see 51000 - 51500+ levels... And for the day traders, 5 0960 - 51130 - 51260+ levels. Please note parallel channel breakdown is not the best place for a short. A better place for shorts is the hurdle line. Here I have used ADX to identify the trend strength. Gold's ADX < 25 means the uptrend is weak. What will happen after a breakout of a parallel channel and hurdles? I will update it in my next update of Gold. If this idea is helpful to you, please leave a comment below and press the like.
MCX:GOLD1!Long
by freestocktips
1
MCX Gold Trading Strategy for Intraday TradersThis 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 - 51460 - 51600+ Kindly note, don't buy it after a breakdown of the last tail. This breakout can pulldown the gold price up to 50660 - 50400 levels.
MCX:GOLD1!Long
by freestocktips