Price resisted and rejected at 1790 level. We expected this level to hold and it did. We also have a clean break outside the Goldturn channel. We may see a test on 1778 Goldturn support level, which falls just outside of the channel and in line with MA200. MA50 has also crossed over MA200 confirming some further move up. If both these levels cross and price...
Hourly Chart The market has geared up for a range breaker movement and the leading setup and structure at this point will point towards a clear direction. However we try and minimise our positions during this time of the year, as the market tends to disconnect from a technical sequence. The price is currently challenging the top end of the Goldturn descending...
We have drawn our support and resistance levels using our gold turns. We can see areas of support for retracements, which we will look to add to our longs and close and shorts. We are looking for these levels to be tested with EMA5 for further confirmation. We already have advanced signals confirming these moves from last week. We are now breaking down these...
Hourly Chart Update Price failed to break 1868 and as we expected retraced to look for support at ma63 (red line), which it did. This is the first level of support after 1852 in line with gold turn at 1846. If price fails to support on this level we are expecting 1832 to be HIT. We are then expecting some ranging movement between 1832 and 1852 before another test...
4H RANGE 1830 to 1826 1818 level has been hit. EMA5 challenged 1806 on market close. We are looking for EMA5 to break this 1806 level. Once this level is broken and secured by EMA5, historically price tends to then sit between 1806 and 1816 and range sideways. We are then expecting EMA5 to break and close above 1816 for price to break open 1830. Once we see...
As per our analysis earlier this week, we saw EMA5 break 1818 and 1823 level and secured with candle body close. This confirmed our movement to 1830. We now have a candle body close and EMA5 break to confirm movement up to 1838. We have some retracement due to the strong 1830 level which was expected to see sellers coming in, however 1823 has now supported this...
1825 is being challenged and holding. A break here will give the momentum to break past 1830 and beyond. A rejection here will take us to 1818, 1814, 1807, 1800 and then 1796 and below. A confirmation to look out for is the EMA5 cross below MA21. This will confirm rejection. However a bounce off the EMA5 on the ma21 is a confirmation for further push...
H1 Support 1830 Resistance 1748 Price has been consolidating between support and resistance Our Moving averages are all below price supporting the recent upward move Price is currently challenging resistance at 1822 If resistance at 1822 is broken the next resistance challenge will be 1830 if price is unable to break resistance it will come back down to...
We can clearly see a full extended range of 1830 to 1726 We have hit our 1818 level resistance. This level at 1818 holds well when EMA5 holds below 1806 and is not dragged up and only the price is able to challenge the level without breaking. If EMA5 breaks this level (1806) that will give price enough momentum to break 1818 level and beyond. This will give us...
Price has broken outside the trendline which opens 1806, 1818, 1830 but resisting on a EMA5 strong turn resistance. If we do not get confirmations via our Goldview setups then it is likely to break back into the channel and target 1787, 1777, 1767 and then 1748, as these setups have already had some activation. We will keep you posted on how we manage this...
PROJECTION - 1787 has now been broken with our EMA5 moving average. 1778 has been broken with price but still supported by EMA5, which opens a window for sideway movement. We may see our self in a short term range of 1787 to 1767. After this consolidation we are looking for a breakout. The two range open to us once we break out this range are on the downside...
This is an overall view of our chart clearly marking strong support and resistance levels using the EMA5 gold turns. These levels are drawn using the EMA5 moving average and back testing shows how well this is respected on the gold chart. We have also drawn some overall channels using the EMA5 gold turn. We have found channels to be respected more accurately...
The reason why we feel GOLD may Rise. * On weekly basis it has just started moving DOWN * To SINL and come near 1228 levels * Stoch RSI (3,3,14,Close) is Sinking. * RSI (14,CLOSE) is Sinking. * CCI (20,CLOSE) is Sinking. Keeping all the above indicators in view along with the chart pattern we expect it to Rise. Our SELL call shall be from SELL BELOW :1245.09,...
DJIA is expected to sink now. There are many reason why we feel it may sink. 01. It has CLEARED quarterly TARGET 02 level. and may come down for a bounce back soon. 02. Bearish Engulfing in daily Chart. 03. To sink and come near 1204 to 1197 levels 04. Stoch RSI (3,3,14,Close) clearly states it may sink. 05. RSI(14,CLOSE) Is also of the same view. 06....