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Gold's Chart Signals Temporary Downtrend but Uptrend Indicators 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 further support the notion of an underlying uptrend, indicating that the current downtrend may be temporary. In terms of key events for today, the following are of significance: 18:00 Core PCE Price Index (MoM) (Apr) and Core Durable Goods Orders (MoM) (Apr) - High impact 19:30 Michigan Consumer Expectations & Sentiment (May) - Low impact 22:30 U.S. Baker Hughes Oil Rig Count - Medium impact Additional information and important event details for the upcoming week will be provided shortly.
MCX:GOLD1!Short
by forextidings
1
Don't Get Yourself Into a Bull Trap With MCX GoldKey levels: 47948 - 49290 Gold is rejecting uptrend and downtrend at the level of 47948 . And we don't see a powerful movement in the 2021 year, wherein it throwout the level of 49280 successfully. Here, you will have a strong support level, wherein we may decide about buying or selling. And it is the level of 47948 . Intraday traders can keep buying the gold for targets of 48360 - 48640 - 48890 - 49280 until it remains above the level of 47948 . But, if you see a breakout of the first 'key' level, then sell it for the targets of 47480 - 47060 below. Buyers must be aware these days. Why? The gold prices may push down with power compared to an uptrend because of Coronavirus (Omicron). For advance traders, watch significant releases or events that may affect the movement of gold, silver, crude oil & natural gas. Tuesday, Dec 28, 2021 20:30 CB Consumer Confidence (Dec) - High Wednesday, Dec 29, 2021 03:00 API Weekly Crude Oil Stock - Medium 21:00 Crude Oil Inventories - High Thursday, Dec 30, 2021 19:00 Initial Jobless Claims - High 21:00 Natural Gas Storage - Low
MCX:GOLD1!
by forextidings
4
What is the Future for the Gold Spot?The Gold spot has started to fall from the 6th of August 2020 and still falling. But it's moving downside with fluctuation in trend. It started to rise for a short period from the 30th of November 2020. And now, the trend will fall up to hurdle by crossing 1876 - 1872 . After the breakout of the hurdle( 1872 ), the trend will hit 1866 - 1860 . But if the trend takes reversal from the hurdle and crosses the resistance, it will hit the following levels 1900 - 1906 .
TVC:GOLDShort
by forextidings
MCX Gold Double Bottom – Potential ReversalIn 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 neckline. Short-term targets: 50900 - 51860 Long-term targets: 53560 - 53400 But if gold fails to complete the double bottom pattern by breaking the support line, we may see continue downward movements. And the gold price will come at/below 48760 - 48000 levels. If it happens, I will update you ASAP. Follow my account for immediate update notifications.
MCX:GOLD1!
by freestocktips
3
MCX Gold Price Trend Analysis & TipsGold 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+ levels... And for the day traders, 5 0960 - 51130 - 51260+ levels. Please note parallel channel breakdown is not the best place for a short. A better place for shorts is the hurdle line. Here I have used ADX to identify the trend strength. Gold's ADX < 25 means the uptrend is weak. What will happen after a breakout of a parallel channel and hurdles? I will update it in my next update of Gold. If this idea is helpful to you, please leave a comment below and press the like.
MCX:GOLD1!Long
by freestocktips
1