Gold retraced from 1357$ to 1260$. 4th Wave retraced to near about 1-2 Wave, it is now expected to go up as a 5th Motive Wave upto 1.414 Fib, i.e. 1400.xx
Gold can go down a bit more but at last will complete its motive wave further.
After analysing GOLD, i have found that it is being mirrored (or flipped). So, if it continues to be then we can see downtrend version again to 1200$. But, in my last analysis, it was found that C wave has ended and now it is in uptrend. So, if elliott count is right then there will be slight correction, max 1230$ and then again up. I dont want to sell right...
If C wave has ended. we are in longterm run for buy.
Well, there was a spike upwards before the rate hikes but soon hikes made gold low and now it seems to get relaxed with 3 GREEN candles. In 1Day GOLD chart, Stochastic is in oversold area and is about to crossover, if crossover is successful and it comes in its 20.xx then gold is likely to go 1320 first. But meanwhile in 4H chart Stochastic, RSI are overbought....
NATGAS dropped and now on 1H we can see macd, stoch and rsi to crossovers and come above oversold areas. initially expected to at 2.972 but with a SL of 2.896
Crude has been negative 3 times a row due to inventory data. Now again US rise their drilling and is expected to be little more bearish. But technicals suggest that if crossover of macd and stochs is completed, it may make a new high. Lets wait and see. If crossover happens in a day or two, then 1st target would be 46.11 and 2nd target would be 49.71 (if lucky).
If btcusd will correct itself, should correct in this way. DONT follow, if its not corrective wave.
I think silver has to come up again after retracing upto 61.8 fib. Political issues look bad but good for precious metal, everything's looks good. But somethings holding them.. Lets see if it can go up for 141.1% of previous uptrend. Target = 17.4xxx Stop loss = 16.29 Small traders Stop Loss = 16.43
As we all know about golden ratio 1.68. We can find it everywhere in nature. But what about silver ratio i.e. 1.414? In this year 2017 bull gold has followed 1.414% target in of its previous bull run. If current situation is bull then it is again expected to reach 1.414% i.e. 1333.xx But, ATR is down this time in bull market, so if its in bear market then keep...
Long Silver, coz its sitting on good support, one can also wait for crossing red line for confirmation. Till then sideways.
Crude made a low again after getting high, but is now ready for a big up move again. Points to be considered : 1. In Fib Commodity Strength, if green line becomes positive, then can be a big up move. 2. Blue and Green (short-term) not showing any up movement in last two red candles but Red(mid long) has shown up movement in red candle, and maroon (long term) has...
Gold has once again achieved its high and will now retrace again.. 1st target 1245 2nd target 1232 (if lucky)
Gold may go up for the target of 1274, making a next green weekly candle
Gold completed its wave 1 from 1194.55 to 1235.29. Then it retraced to 23.6% i.e. 2nd wave from 1235.29 to 1126.58. Wave 3 tarted from 1226.58 to 1260.76. And now it is expected to go down for its 4th corrective wave with angle from 40-45 degree, from, 1260.76 to 1252.70 (23.6%) or 1237.71 (38.2%)
Buy Crude Oil either upto 13 April or 10 August.. Long term Buying as per trend based Fibonacci..
If today fed hike rates, then hoping for Gold to reach 1179.51 and then will eventually rise up. but slow rise.. But, fed can also extend their decision for next month, so a stop loss of 1211.68.. Summing up all... CMP 1200.33 Target 1179.51 Stop Loss 1211.68
If fed rate hikes, don't know weather they will hike or not. but, if they will, then there might be testing of upper line.. Finger crossed..