anand1988

anand1988

Looks like inverse head & shoulders pattern where gold if breaks the neckline at 2040s then it may go up until 2070s.

anand1988

Last touch occurred on 22.12.2022, medium to long term downtrend shall start.

anand1988 Updated 

Whoever says All time high is going to get broken in upcoming days are wrong, look at the Weekly chart they are BEARS hiding and it is definitely going to fall. There is GAP at 1870 which it did not fill, all those imbalances will be met first. In 2020 ATH was created @ $2075, this was due to a reason which nobody will forget i.e. COVID19, current banking crisis...

anand1988

RSI shows hidden bull divergence plus the price mitigated the imbalance from previous move from 30150 which was done last june

anand1988

Gold is at supply zone for the trendline from highest point at 2070 to 1680

anand1988

Gold faced similar situation 10 years ago, the cycle looks repeating in the same manner. going forward it will test the lower weekly moving averages.

anand1988

on the monthly time frame, 4 waves occurred during previous high in 2011, afterwards the same pattern has repeated over 2020-2022. plus we have double top on monthly chart, for sure this is going down toward 200 weekly moving average!

anand1988

If you see the chart during 2011-2012 fractal, the price action appears to be similar along with the candles with 2020-2022 fractals, double top is a very bearish formation on higher time frames and we expect similar drop this time once the war and inflation situation calms down.

anand1988

April 2020 0 , negative $35 February 2022 $91.5 to $100 This is the revenge of the KING OIL This is the revenge of all big players who lost during April 2020 This is mother of all rallies. Analysis: Support: $90 Resistance: $100 Pattern: Megaphone Pattern Resistance: $92-$94 Long on dips since $66

anand1988

Have a look on 4hr it is printing inverted h&s. What u say?

anand1988

Macd always tells the truth. I am with others in belief that this is a weekly Bearish Head And Shoulders pattern. Stop losses hunted at 77 50DMA is strong Resistance 1.2million Covid cases yesterday Sell off on the way Next targets for now are 72-71

anand1988

Where will it go? It was a bull flag, now it seems megaphone pattern. 📣 is the long term bull trend under threat?

anand1988

Let the downside get over soon, still its not complete and then BOOM! RSI is 100% showing Bullish signs from now. The best price to long is between 1720s-1730s

anand1988

It took 30 days for the price to rise $140, and just 5 days to drop $140. XAUUSD seems to be testing its bull trend commitments at $1720s-$1730s due to the huge order block at that level, seems like many short sellers who are also the big players must have stuck there. So we must wait and watch the price towards that level, short selling is very risky and buying...

anand1988 Updated 

It looks like inverted weekly head and shoulders on the weekly chart which will be extremely bullish pattern in future.

anand1988

You name it we have it, huge sells on WTI OIL. Sell on retest. Huge bearish impulse!

anand1988

On the daily clearly gold has broken parellel channel so post FOMC it will head towards double bottom structure support. Also the MACD is signalling bearish cross on the cards. After testing support for few days, expect 1800.

anand1988

Retest under progress looks on failure it will go down.