Gold looks rejected by the support level at 1607.85, then gold will likely rise to the level of 1621.73, with possible further to the level of 1628.09. I don't think short position will be an opportunity now.
Thread: Gold
Gold looks rejected by the support level at 1607.85, then gold will likely rise to the level of 1621.73, with possible further to the level of 1628.09. I don't think short position will be an opportunity now.
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The short term trend of the Gold is to the upside. Intraday trading range of the Gold is expected among key support at 1670.00 and key resistance at 1640.00. Based upon my chart analysis, I prefer to buying the Gold above 1600.00 with targets 1630.00 then 1670.00 and stoploss is below 1670.00.
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Hamzagoroo (2019-05-25)
The short term trend of the pair is to the upside. Intraweek trading range of the pair is expected among key support at 1545.00 and key resistance at 1670.00. Based upon my chart analysis, I prefer to buying the gold above 1590.00 with target 1630.00 then 1670.00 and stoploss is below 1560.00.
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Hamzagoroo (2019-05-25)
August month is the month waiting for Gold. Gold wants to test the level of 1550 one in this month to fear the bears.
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Hamzagoroo (2019-05-25)
If gold pair broke 1595 level, then their may chances of further downfall or what will happen in that case. Kya aap mujhe bata sakte hain ki isske baad kaunse sa support level hai agar Gold 1595 ke level ko broker kar deta hai toh, par mere hisaab gold will move upside as all major currency pairs shows good upside movement in European session.Originally Posted by yogesh
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Hamzagoroo (2019-05-25)
Gold has made good recovery and managed to cross and close above 1600 sentimental level currently the price is 1602.70, bias is looking up and hopefully we are again moving towards 1630 level. 1595 shall be important level on monday if gold managed to remain above this level it shall be good.
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Hamzagoroo (2019-05-25)
Technical Outlook and Chart Setup:
Taking into account the chart above, lets examine how the ideal breakout scenarios materialize. And gold has shown a better example for the same.
Step1: Out of the cone resistance line, shown as the breakout candle above.
Step 2: Backside test of the Cone Resistance line turned support now.
Step 3: Ready to rally again.
If one needs to enter into the rally and take maximum advantage, this is the time to do so. We recommend buying at current levels.
Trading Recommendations:
Hold on to long positions, build more now. Target 1650 and 1700 at least.
Published: 2012-08-01 07:49:01 UTC+00 4 hours, 6 min. ago
Ik heb een droom
Hamzagoroo (2019-05-25)
Do not want to drop the gold price .. reverted back to 1630 ... resistance on the daily chart we see a narrowing triangle ... I think the breakdown in the verh.tseny to 1670 should reach at least ...
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Well, now that gold is holding support at 1610, ahead of a very strong resistance of 1630, so it is not complicated to say clearly where to go forward to the breakdown of one of the levels ...
Last edited by Gutsalo; 2012-08-01 at 12:08 PM.
It seems that gold is still preparing to retreat south, the price still is not able to overcome the long-term resistance level of 1628.00, as MASD showed a sell signal, which was confirmed by 4-hour candles.
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Hamzagoroo (2019-05-25)
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