As per the analysis of the provided chart, the outlook for Gold suggests potential downside towards the levels of 59260 , 59000 , and 58700 . Traders should pay attention to the level of 59600 , as a crossover and close above this level could signal a resumption of the uptrend. The presence of the 100-day moving average and a parallel channel on the chart...
Gold is taking reversal from the strong support (SS) level ( 48635 ). And at present, it's very close to the SS. Can we see a reversal again? If gold remains above SS, then it can touch the following levels: 49000 - 49200 - 49400 But according to RSI, MA, & DMI, it seems in a downtrend. So, if MCX gold breaks the support level, we may see the following...
In the last two weeks, MCX gold has lost -2003 points. We may see a continued downtrend up to the support line (Range: 49600 - 49200 ). Intraday traders can play between freefall by taking it as a target. As mentioned in the chart, the double bottom pattern will complete when the price fails to break past the two bottoms and heads back to the...
Gold is performing in the parallel channel from 22 Sep. Recently, the moving average has tried to crossover but failed. And volume spike is a direct sign of an uptrend. It's sharply moving forward. As I updated on Oct 19, gold is trying to climb upward after hitting the parallel channel. And if it remains in the parallel channel, we may see 51000 - 51500+ ...
Breakout Range: Approx. 3300 Hurdle: 50600 level At present, gold is trying to recover the previous loss. The support level has broken (flat lower trendline), and it becomes resistance now. We may see the continuation of the downtrend from there. That could fall to the following levels: 49360 - 48760 and below. Lionheart traders can hold for 48000 to ...
This chart is all about the assumption of the future moves of the gold, which has created by using the Elliott wave patterns of impulsive & corrective waves. In the beginning, there are impulsive waves which converted into the corrective waves now. Gold cannot keep drilling downward. Before the downtrend begins, we may see the following levels: 51160 - 51300 -...
As per the chart above, gold is trying to take a U-Turn. It can slip for 47460 – 46760 – 46260 levels. As per the S-RSI, it will start running upside soon for the dynamic resistance level of 53900. Hence, targets: 49560 – 50000 – 52000 – 53000+ Don’t forget to keep your eyes on downtrend level 46260 .
For intraday traders: If that is a right shoulder, C (T1) and C (T2) are the next targets. S RSI is confirming the downtrend by crossover. For the long-term investor (Hurdle Breakout): T1: 47560 T2: 47260 T3: 47000