Yesterday gold closed with red in daily chart. This is happening everytime when there is a life time high volume in one day. However gold just tested the 50% Fib level and is healthy retracement for further bullish trend. The war is still going and hence we may expect the trend to change only when war stops. For the trend to reverse gold has to fall below 1880....
Yesterday gold has highest volume in history which is nearly double the previous high. But even this high volume was not able to help gold to break the LTH 2076. If there is enough volume we may break this today. The important levels volume suggests is 2040 and 2064. There is lot of selling pressure above 2056. So we may expect reversal from levels above 2064. The...
Yesterday gold has the highest volume in its one day entire history. The strongest reversal is at 1968 and was able to bring upto 1992. So these two levels are important today. Now gold made a high of 2020.5 and is rejected to test its support near 2000. As we have seen the 2000 level was very strong resistance yesterday. So it will act as support today. Today...
Gold opened with a gap and made high of 2001 in morning. However this level showed some rejection and made gold to test its support upto 1982 and also filled the gap. Now gold is showing reversal and can test the 2000 level during London session. I can see gold has shifted its value zone and present value zone has its limits between 1960 - 2020 So for today we can...
Yesterday also news were negative for gold. But this only made gold to test its support near 1925. Yesterday gold tried to fill the liquidity gap above 1935 and is currently at 1940. Now the next liquidity gap is between 1945-1950. We can also see the control price today is 1945 which is the upper limit of lower value zone. So gold will need good volume to break...
Yesterday gold tested its support and the lower limit of Value zone helped gold to maintain the 1915 levels. The news were also positive for USD. So there was lot of selling pressure. But gold is able to sustain and rise to its previous support near 1926. For today the important levels are 1935 and 1918. I can see there is a good supply area near 1935-1940. So we...
Gold is able to breakout the strong resistance near 1926. So this is the support now. Gold also tested the 78 % retracement level near 1950 and pulled back near 1935 which is 61 % level. As of now gold is ranging between 1930-1950. Gold is still bullish so go only for buy. The best level to buy is 1926. However on daily chart the volume is falling from 4 days and...
After the failed break out at 1926 on the day it made high of 1974 now gold is range bound between its longterm resistance 1926 and present good support at 1880. Since two days it is not making higher high or lower low. This shows gold is accumulating. We can see an ascending wedge forming. So once this accumulation completes gold has to break this wedge. The war...
Gold opened with a very good bullish gap today. This shows market is in fear and uncertain. However gold is not able to breakout the resistance at 1926. So for now gold may test the support near 1900 before it makes any bullish move. The strong support for now is 1880 and strong resistance is 1926. I suggest to go for short trades near 1920-1926 level and long...
Yesterday gold has the highest volume in history. War news made gold rise to 1980 level during Asia and London sessions. However during US session it started dumping to the strong support level at 1880. But still gold is able to recover and come back to level near yesterday's open So we need to breakout the trendline at 1920 to continue bullish momentum. If gold...
Gold made a breakout from trendline and is able to make a high of 1948. For now the support is at 1920. As news is telling about war we will see only bulls.\ Next target is 1960. So be ready and go only for long trades. We cant predict in this situation. The volume in last four hours is highest in this decade. So go for long when price pulls back. Dont...
For the first time after so many days Gold made a Lower High. This can be a signal for bearish momentum. However there is still good support above 1886. So lets hope bearsish trend today. As we can see gold moved to lower value zone with control price near 1900. So this level can be good resistance for today. Support at 1886. The volume is also decreasing since...
Volume is suggesting Gold has good support above 1890-1900 zone. Past trend is suggesting Gold has strong resistance at 1960 level. However the 1910-1920 level is very important level for bulls to go ahead. Today Gold shall test its support near 1900 and try to break the 1920 level. If the support fails at 1886 then we can expect reversal upto 1860 before bulls...
Today Gold made a higher high of 1908 at opening as the news about war was still not certain. The next three days no big news on USD As of now Gold is bullish and is making Higher highs and higher lows. Gold made pull back to test its support near 1888 and is showing strength for reversal. Technical Analysis is suggesting a pull back above 1880. Trend is...
Yesterday was a very high volume day. From Oanda chart I see such high volume only in 2013 in a single day. So all this says gold is still bullish. I tried to draw trendlines from one day chart to find some resistance level. As we can see 1916-1920 level can be a strong reversal area. By studying volume the strong support level for today is 1875. The next good...
Yesterday the news were negative for gold. But still gold is able to increase in level because of bullish momentum. Today gold will try to test the high of 1880 and will find support at 1865 and 1858 levels. As the value zone suggests the limits are between 1850 to 1880. So we can trade short and long trades when price reaches these levels. with small...
Yesterday gold has very high volume and was not able to sustain the levels near 1880 because of high selling pressure. However yesterdays daily candle gave a confirmation for the breakout of long term trendline since price rose to 2000 in March 2020. So I expect gold to be bullish in coming days too with base price near 1840 if price is able to sustain above...
Yesterday Gold has very high volume in last five years. This may be because of news and weakness in other markets. Even with this his volume gold was not able to make big movements because of oversold level. But we can study the support levels based on the volume level. I tried to create a value zone and break it for studying the price movement. Based on current...