strong break up through resistance now retrace 50% fib.
previous resistance now become support
also if you check momentum indicator like MACD you will see bullish divergence
gold has a weekly gap at 1870
and a strong support at 1815
also the macd shows a potential downside of 4-5% based on the above technicals
mentioned
inflation on may rose 0.1% which will strengthen the DXY index , and historically speaking they have an inverse relationship with the gold price.
dollar will be weak gradually and slowly when the inflation records 3% or less
Gold is at an interesting junction again, are we going go to hold the $1900 area and retrace or is this a more substantial bottom?
It's very tough nowadays to anticipate what the outcome will be because the market seems to be adopting not too many traditional norms.
So technically, it seems to have met a short-term objective around the $1900 area (38.2%...
Introduction:
In the world of technical analysis, patterns often provide valuable insights into the future price movements of financial assets. One such pattern that has recently caught the attention of gold traders is the 12-year Cup & Handle formation. This classic pattern, characterized by a rounded cup shape followed by a smaller handle, is pointing towards an...
The analysis of the GC1! chart clearly shows us that the pair is finally about to go up due to the rising pressure from the buyers.
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Hello traders,
GOLD (GC) has a super interesting setup, we broke the last trending line of the Pitchfork, and retested without success. And we can see that sellers got rejected with volume at the support 1913, today s session will decide. Be careful, i think gold will skyrocket whatever its doing right now, be prepared.
GOOD LUCK.
Gold India Price, may face downside Resistance at 61.8% Fib.
As per Daily Ichimoku Price will go in downside. Both Base line and conversion line are below cloud & Chikao span is also free from cloud downside, Suggesting strong downside moment..
Need to wait at 61.8% fib resistance to confirm if price will more downside or it will take fib resistance and move upwards.
I felt I had to do another video because a traitor was taking a short position when I would have been long. I was thinking like a buyer and I didn't look at her entry even though she gave me enough information And in retrospect if she had Shorted at the 382 That's a reasonable trade to go short. It is worth following the thinking.
Shortly after the last video gold and silver moved to the next 4-Hour bar and on both markets the chart gave a two-bar reversal pattern to go long. It doesn't mean you should go long... it's a reversal pattern not a commitment. But I wouldn't short A reversal pattern that triggers a long trade. if I did that type of trading I would have to use much larger stops...
Gold and Silver are getting hit to the downside this morning with jobless claims coming in softer than expected, continuing the downtrend for Gold since the highs from May. The Chinese Yuan weakness has been a major headwind for the Gold market since those May highs, but there is some strong support down near these levels at 1907.9 that the bulls will look to...
In this update we review the recent price action in the Gold futures contract and identify the next high probability trading opportunities and price objectives to target
*Past performance not indicative of future results
Giving yall the sauce on whats boutta go down tmw wdaoijawoijdawjojoiawdjioawdjoiawdjoijadwoijoiasjioawdjoiawdjiowadjoiawojiwajiojoiwadjoiwdajoiawjoidwadjoiwdajiojoiawdjoiwadjoiwadojiawdjoiawdojiwdaoijawdjoiawdojiwadjoiawojwadjoi
The under going C wave of ABC zigzag correction may push the price of GOLD to drastic down
Falling crude price, rising stocks, are the main reason
India is started its sowing process which is also a diminishing factor
The Fibonacci targets are shown
Sell Position in MCX Gold:
Entry Price: Market Price (at the time of execution)
Target 1: Around 57,100
Target 2: Around 55,000
Stop Loss: 58,900
chart Time Frame is : 7 hours
Entry / Exit Time Frame: 2 hours
Reason for the Trade:
This sell position is based on the analysis of the supply and demand zone, as well as the market being in a downtrend. The supply and...
Price is GC is in a demand area inside a descending triangle. I expect price to retest the most most impulse move lower near 1960 before continuing lower to 1920
The strict beauty of the chart is a reflection of the fierce eternal battle between the bulls and bears and right now I can clearly see that the bears are taking over so we will bend to the will of the crowd and sell too.
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