Thread: Gold
It made several attempts already to move near 1600 level but good that the support is still intact and as market has spend 3 days trading in narrow range of 1590 to 1600 it is unlikely that this range can be broken so easily so it is quite safe to use 1590-1600 band as good support while going long.
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forexA (2019-03-16), khizar1 (2019-03-16), lal765 (2019-03-16), Muneer7171 (2019-03-16)
Leo, is the fifth astrological sign of the zodiac, originating from the constellation of Leo. It comes after Cancer and before Virgo. The traditional Western zodiac associates Leo with the period between July 23 and August 22, and the sign spans the 120th to 150th degree of celestial longitude.
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forexA (2019-03-16), kanita (2019-03-16), khizar1 (2019-03-16), lal765 (2019-03-16), Muneer7171 (2019-03-16)
Gold is going down and we can have a sell trade on this pair
Support and resistance levels:-
S3 1302.69
S2 1301.53
S1 1300.45
R1 1303.90
R2 1306.93
R3 1307.12
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kanita (2019-03-16), khizar1 (2019-03-16), lal765 (2019-03-16), Muneer7171 (2019-03-16), Passion (2019-03-16)
As we have pointed out on numerous occasions, gold has flourished when investors� expectations of the post-2008 recovery hit sentiment extremes. For those expecting a brisk rebound (the so-called �V-shaped� recovery), gold was an attractive store of value amid fears that inflation would spiral out of central bankers� control and debauch paper currencies
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
A recovery in risk appetite threatens to undermine gold prices for a second day amid fading safe-haven demand. Indeed, short-term correlation studies continue to show a significant inverse relationship between gold and the S&P 500 and the pickup in futures tracking the index ahead of the opening bell on Wall Street bode ill for the yellow metal.
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On Friday, the precious metal gold rose above a psychological trading level of $1300 recovering from the previous session’s sharp fall as the dollar dipped. Moreover, mounting worries about a slowdown in global economic growth boosted demand for the safe haven assets.
Support Resistance
1291.34 1303.19
1286.2 1309.88
1274.37 1321.61
Key Trading Level: 1298.035 today
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kanita (2019-03-16), Muneer7171 (2019-03-15), Unregistered (1)
The moves 6 and 7 were quick, with move 7 being an obvious blow off. From there prices dropped sharply into March 6th.
So what now? The most likely pattern is a consolidation, before further advance. I think the approximately six month rally from August to February is move 1 of a much larger Chaos Clamshell. This is shown by the green boxed number 1.
One way to estimate the duration of this consolidation is to anticipate that it might look like the August through October 2018 move, outlined as a red triangle. This triangle has been copied to the end of the chart. It suggests GLD could congest until about April 4th.
If prices do this, it could be a golden opportunity to buy gold for further advance near the end of the triangle. Purchases can be protected with a stop at 120. The GLD Exchange Traded Fund is my preferred vehicle, since it can be traded by small accounts. .
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
kanita (2019-03-16), Muneer7171 (2019-03-15), Unregistered (3)
On Friday, the precious metal gold rose above a psychological trading level of $1300 recovering from the previous session’s sharp fall as the dollar dipped. Moreover, mounting worries about a slowdown in global economic growth boosted demand for the safe haven assets.
Support Resistance
1291.34 1303.17
1286.2 1309.86
1274.37 1321.69
Key Trading Level: 1298.03
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Muneer7171 (2019-03-15), Unregistered (1)
Pair is Gold
Todays my technical analysis of gold
Market trend is sell.
1 RESISTANCE LEVEL IS =1305.50
2 RESISTANCE level is =1307.22
3 RESISTANCE level is =1309.55
1 supporting level is =1301.60
2 supporting level is =1297.20
3 supporting level is =1295.10
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Muneer7171 (2019-03-15), PAK786 (2019-03-16), Unregistered (1)
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