learntrading007

learntrading007

Resistance - 2432 Support -2407 Breaking either sides will trigger a new trend and a wave

learntrading007

Will the channel be broken ?? How long can DXY keep up? Major support zone for Gold , failing the support can trigger a move downwards ??

learntrading007

Can 1773 be resistance or a break can take it towards 1830? Current bullish wave in the bearish trend ? How long can it prolong? We are at interesting levels Break of 1773 can push the bull target to 1829

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While Gold bounced of the Fib level yesterday at 1696 region , it is still is the downward channel and the lower wedge points towards 1676 region and with resistances around 1712, 1717, 1721 and 1727 Though the short term break of the wedge provides an upward movement , it needs to break above 1740 to move out of the channel. Up until it leaves the downward...

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DXY is running hot in major uptrend and is in 12 month rising channel. We can observe a bearish divergence forming slowly as shown above !!! Can the recission news keep it running hot or can we expect a pullback? The coming CPI news going be big and can expect a major move either breakout out or a massive decline. If the bearish divergence holds we can expect...

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Gold prices rebound from a support area at $1835 Even though CPI data has little impact at the start but eventually eased as still the inflation high and coping wit it takes time gold buyers are likely heading towards 100-DMA near $1,885. if their is bearish influence and fail to break the resistance areas will result in the break or retest of $1835 and a...

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Gold reached an area exactly where it was one year before and raising geo-political tensions pushing gold to new highs everyday. can gold sustain this push? Or is the cycle finishing for bull? Bears are waiting for the fed decision rate? this area is dangerous and need to keep an eye as it move upwards .

learntrading007 Updated 

rising wedge short term upside -1838 downside -1812

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Given the current trend and a big bull candle close for the year 21, certainly, raised a lot of eyeballs but how long can this bull last? There can be an extension up to 1845 before any confirmation, but as expected we can have a restest as still bearish divergence is there on all timeframes. Being an overbought region can certainly ensure a retest before a leg...

learntrading007 Updated 

Gold took a bullish course as expected towards the end of the year. The short-term bullish trend can have an upper range of 1845-1860 if it is able to cross the historical resistance at 1833. 1825-1833 zone gonna be hard to crack but once passed, the trend can change and have an upward wick before having further conclusions.

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With NFP numbers, gold found its breakout to upside with low job numbers and it literally exploded in few minutes before the numbers. But it reached to all-time resistance 1833 area and have significant resistance and need to have a clear breakout to confirm moving upside towards 1900. It might come back to the area of `1810 to take support with an extension to...

learntrading007 Updated 

Now gold is waiting for the NFP news to decide its direction to either move up /down. A breakout above 1830 would trigger a bullish run and upwards to 1900. But there seems to be a lot of support in the region 1792-1808 and 1808 is acting strong support with 1820 a resistance to seeing a further upside to 1830. Overall it's not clear and gold is gearing up to...