Gold Testing 200-DMAPossibility of a bounce up in Gold from this level if the support does not break
I will wait for another opportunity and I believe during the FOMC meeting, we might get a quick dip below
1800 in Gold.
Golddaily
Gold (XAUUSD) Technical BearishTechnical:
The near–term support is around $1918, violation below targets $1910/$1895/$1877/$1850/$1800. Significant reversal only below $1750.The yellow metal faces strong resistance of $1940, any breach above will take to the next level $1977/$2000/$2020.
It is good to sell on rallies around $1928-30 with SL around $1950 for TP of $1850.
Gold gained above $1950 Gold gained above $1950 on rising crude oil prices.
Technical:
The near–term support is around $1934, violation below targets $1918/$1910/$1895/$1877/$1850/$1800. Significant reversal only below $1750.The yellow metal faces strong resistance of $1950, any violation above will take to the next level $1960/$1977/$2000/$2020.
It is good to buy on dips around $1938-39 with SL around $1920 for TP of $2000.
XAUUSD (GOLD) 4H ForecastFactors to watch for gold price action-
Global stock market- Bearish (Positive for gold)
US dollar index –Bullish (negative for gold)
US10-year bond yield- Bullish (negative for gold)
Technical:
The near–term support is around $1780, violation below targets $1750. Significant reversal only below $1750.The yellow metal facing strong resistance $1820, any violation above will take to the next level $1835/$1860/$1877$1912 is possible
DISCLAIMER: ((trade based on your own decision ))
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XAUUSD (GOLD) 4H ChartTechnical:
The near–term support is around $1810, violation below targets $1800/$1780. Significant reversal only below $1750.The yellow metal facing strong resistance $1835, any violation above will take to the next level $1860/$1877/$1912 is possible.
DISCLAIMER: ((trade based on your own decision ))
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GOLDEN DROP
GOLD has been making a weekly downtrend
All the fundamentals are making bearish pressure
If the market reacts to our analysis, it will be a great oportunity
TIPS: Enter in a Lower time frame
Don't forget stop-loss
Plz make confluence with other sources
"Don't predict the market, let the market react"
"Patience is the success for trading"
If you like this idea plz follow for updates
Happy trading!
Gold pennant chart pattern on Daily 2015, 1906, 18181906 the horizontal support and blue ascending trend line are holding gold further decline. Once both level are broken seller will target for 1862 and 1818
