Reversal or a Retracement?
Atualizado
Gold witnessed some decent profit booking at end of the week.
Keeping it simple
2320 is going to be the Zone.
If respected, We may see retest of 2400 zone
If Not, then 2275 may provide some support.
Although Stronger Support Zone happens to be around 2220 2200 levels.
Rest of the analysis in coming days.
Keeping it simple
2320 is going to be the Zone.
If respected, We may see retest of 2400 zone
If Not, then 2275 may provide some support.
Although Stronger Support Zone happens to be around 2220 2200 levels.
Rest of the analysis in coming days.
Nota
Gold has seen significant Buying from 2320 zone as expected. Having falied to create lower low. Higher high is possibleNota
Gold Coming for 2410.Analysis Hits Bulls Eye
Nota
Daily Candle Closing Is Seriously Bullish..Don't attempt to Short!
Look for Longs Only. Atleast till 2450
Nota
Decent Buying from 2360 Zone.. More Bullishness if sustains above 2360 zoneNota
Gold needs to sustain above 2380 for more Bullishness, or else consolidation to beginNota
Sustaining above 2380! 2410 and above
2450
2480
2530
Open up
Nota
Gold has not shown the anticipated momentum.More Bullishness Only above 2385.
Or else some more consolidation possible
Nota
If Gold sustains below 2380, Retest of 2340 zone possible
Nota
Failure to sustain below 2380.ATH likely
Nota
Choppy Sideways Consolidation has begun.. Wait and watch..2340 expected to be decent buying zone
Nota
In longs from 2384Nota
Trailing SL hitBelow 2380 Shorts opened for 2340 zone
Nota
Half booked at 2360Half Trailing SL taken.
Decent Demand in 2360 area as well..
Possibly preparing for next rally.
Nota
Observe price action around 2340 2345 zone.. it is a very heavy demand zone.If anything wait for long entries
Nota
If Gold sustains below 2340, Then below 2323 next support around 2290 onlyNota
Going by the Strength of the bounce from 2350 zone, Whether or not 2345 will be tested, only time will tell
But for now SC above 2385 looks likely
Nota
Till the time Gold is above 2375, More Bullishness is possible.Some more consolidation testing 2365 2350 possible if 2375 zone is broken
Nota
2410 HitNota
Unless Gold starts trading below 2350, we are ready for the next rally
Nota
Next Weekly Analysis coming Weekend
Aviso legal
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