XAUUSD : Review on Various Bull Possiblities.
Updated
Its been very evident that even the strongest bears went positive since BREXIT on Precious Metals for intermittent rally or pullback from the supercycles as we call.
Everybody would agree that 1300-1310 would serve as strong demand area and resistance from previous tops especially March 2015 highs. The breach woud open the gate to 12XX and bear would take thier chance to push down as much as possible it can. Probably 1250-1211 would be bears targeting for.
On current Daily Chart I see huge range play from 1300-1330 for next whole week and I believe this the last bear week and will make perfect Bull Flag on weekly. We have bottomed the STOCH and RSI hover around 48-50 on daily.
So Huge Sideways possible within range till 27 July, Yellen still might not give green signal to rate hikes in august as statisticians or Economists would treat previous two NFP data as Anomaolies and would wait for more evidence on job reports.
Dovish stand likely to induce rally in all PM and would again try to target previous tops and 1375-1390 Region. I have charted all bull possiblites, if not anyone of those being played, God help the bulls !! because it will dive down so hard that even bear has not imagine.
Good Luck for Next Week
Happy Trading.
Everybody would agree that 1300-1310 would serve as strong demand area and resistance from previous tops especially March 2015 highs. The breach woud open the gate to 12XX and bear would take thier chance to push down as much as possible it can. Probably 1250-1211 would be bears targeting for.
On current Daily Chart I see huge range play from 1300-1330 for next whole week and I believe this the last bear week and will make perfect Bull Flag on weekly. We have bottomed the STOCH and RSI hover around 48-50 on daily.
So Huge Sideways possible within range till 27 July, Yellen still might not give green signal to rate hikes in august as statisticians or Economists would treat previous two NFP data as Anomaolies and would wait for more evidence on job reports.
Dovish stand likely to induce rally in all PM and would again try to target previous tops and 1375-1390 Region. I have charted all bull possiblites, if not anyone of those being played, God help the bulls !! because it will dive down so hard that even bear has not imagine.
Good Luck for Next Week
Happy Trading.
Note
Its HappeningNote
No IR hike confirmed. Plan set on right direction.Note
Followed the quick Impulse as suggested Idea on low GDP data.Note
So far so good !Note
Expected NFP data. lets see if we can grow higher from here.
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