boyinjungle

boyinjungle

Yesterday signal was Long when the price was around 1770. As expected the prices raised to 1774 and started to pull back. During the news by Fed the price fell initially to 1754 level and then pulled back to 1784 level. Lets discuss the levels for today. Since the price rose 30 pts it has to pull back. Fib suggests the next levels are 1778 - 1772 - 1768. So we...

boyinjungle

Yesterday the price pulled back to the support level 1768 and started ranging sideways between the levels 1770 to 1774. As we can see the Volume is indicating there is a lot of buying pressure at 1768 as the size of candle is small compared to previous candle though volume is more. So we can look for buying opportunity today near 1768 to 1770 level with a small SL...

boyinjungle Updated 

As I gave in my analysis yesterday today we can see the price touched the 1790 level and is still moving uptrend. However, as marked in the circle whenever the price tries to go beyond 1790 level the rejection gets higher and you can see this from the length of candle/spikes. As I suggested the price has to pull back to levels below 1780 to take a decision for...

boyinjungle

Let us study the price action for 4 hour chart. Since the prices slipped to the level of 1784 on November, 23 the price continued to range between 1784 to 1800 level. It tried to breakout once at 3rd wave but again settled at previous level. This continued until 5 waves and then there was a very high selling pressue when it tried to test the 1808 level for second...

boyinjungle

Today there is a important news on inflation numbers. Market can break all the resistances and touch new levels. Since the day it broke the trend line it is trying to cross 1800 and failed to settle above it for nearly three times. Today if news is positive for gold it can test the 1808 level. But before reaching that 1796 is a big order block. Here we will have...

boyinjungle

The Volume suggests that the support at 1775 is still intact. However the price action is giving a support of 1782. As we have one candle which closed above 1782 I think it will come back to test these levels of 1782 and 1775 before moving ahead. If the test gets successful then it can rise upto the levels of 1794 in next week. The present candle which closed at...

boyinjungle

Here is today's Gold analysis. Yesterday because of a negative US news Gold shot up to 1808. Later in an interview the Govt. gave a very positive news for Dollar and so Gold crashed from 1808 to 1772 with a high volume in 4 hrs which is highest volume recorded around 2 months back. So from now this candle will be controlling the prices. For today the momentum is...