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 -...
Little target 51,670 Stop Loss 52,000 *Disclaimer : I just shared my view. Please trade with your own and comfortable views.
MCX GOLD CURRENT MONTH CONTRACT SHOWING SIGNS OF BREAKOUT.
Resistance : 52,000 Support : 51,450 Disclaimer : Trade with your own views..
Target 51,700 Main Stop loss at 51,100 Disclaimer : Trade with your personal views..
Here's a short term analysis for MCX-GOLD Fibonacci Levels shown in the image might act as targets. 50% retracement level would need a re-analysis.
Gold is has been tested blue trend line multiple time. before it makes any significance moves it has horizontal levels to broke
Gold Likely to retest the previous zone and then bounce to previous High Trade Plan: Wait for it to retest and break 52405 to go long
Gold Bullish and bearish levels marked on chart. Like.... Follow.... Share.... Staytuned
Please put Stop loss for any trades for safer side. These are the intra day levels.
1.This metal keep on cutting the resistance levels. However the last movements resistance levels seems at 56,000.
Sell for the target of 53,000; stop loss 54,200
Notes 1. 1941 stands in good support level. Breaks below that may catch 1910 and 1900 levels. 2.Gold seems easily won't go down because of global economic pressures. 3. We can wait for the breaking news for further decisions. 4. Indian traders please close your position within a day either profit or loss to avoid...
51,250 and 50820 are the resistance levels.
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 .
Seeing narrow range / consolidation phase with hurdles at 48290 to 48400 levels.... basically drifting down to 48000 levels on ebery rise....
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