SunilKumarDixitSKCharting

SunilKumarDixitSKCharting

A sustained break below $73.80 can push prices down to $72 and $71 Consolidation above $73.80 can help Oil rise again towards $74.80 followed by $75.30 and extend to $77.10

SunilKumarDixitSKCharting

As long as Gold prices sustain above $1867, a resumption of uptrend is very likely which requires prices to clear $1878 to reach swing high $1881 Further, price acceptance above $1881 indicates buyers presence for next upleg $1896 A sustained break below $1867 followed by $1862 will prompt a quick break down for $1858 and $1852 which is acceleration point for...

SunilKumarDixitSKCharting

Nasdaq has been in continuation mode with bullish rebound. Sustained break above 11100 opens way for retest of 11270 followed by 11380 Any pull back towards 11900 and 11800 may be seen as value buying for a greater Risk vs Reward while 11700 as Daily closing should work as alert for deeper corrections.

SunilKumarDixitSKCharting

Gold continues with Bullish rally and tests $1881 followed by some consolidation below the high which can ease prices towards $1868 and $1860 and a continuation of bullish uptrend is aiming for psychological handle of $1900 with $1896 as a resistance en-route.

SunilKumarDixitSKCharting

Gold faced correction from $1865 high resulting in drop to $1825 support level followed by close at 1832.80 As long as prices sustain above $1825 support we expect resumption of uptrend that initially targets $1845 and if Gold finds enough buying volume above $1845 , momentum can accelerate towards swing high $1865 Failure to hold above $1825 can lead to lower...

SunilKumarDixitSKCharting

Gold is seen in sideways move and consolidating below $1855 after some retail profit booking pressures pushed prices down to $1843. Price action is showing minor downward bias settled within descending channel which often breaks to upside. We expect uptrend to resume from support areas aiming retest of $1855 followed by swing high $1865 A strong build up above...

SunilKumarDixitSKCharting

Bullish Momentum tested $1865 and consolidates below this level. As long as $1865 is not cleared, we may witness some momentum distribution causing some drop towards support areas of $1852 below which $1846 and $1832 are seen as support. If selling continues, expect retest of previous week close of $1824 followed by 5 week EMA $1813 and 100 week SMA $1798 On the...

SunilKumarDixitSKCharting

Gold found strong acceptance above $1824 and breached $1842 Fibonacci Resistance to test $1850 Short term consolidation may witness minor correction towards support zone $1824 If selling extends below this level, expect drop to $1812 which is critical for continuation of bullish momentum as breaking below $1812 pushes Gold down to $1800 before any new attempt to...

SunilKumarDixitSKCharting

Gold has been trading with a Bullish bias supported by psychological base above $1800 and seems to have formed support base around $1810-$1815 Since this is the last Trading day of calendar year, we may see some added volatility despite absence of institutional traders volume participation. Technically, failure to close above $1827-$1833 will keep Gold vulnerable...

SunilKumarDixitSKCharting

Gold Needs to Break Out of the minor Range $1802-$1815 in order to make next move. Sustained move Below $1802 will increase chances of further drop to $1796 - $1784 which is acceleration point for extended downside towards $1773 Consolidation above $1802 may help Gold retest $1815 and if Gold finds strong buyers above this level, up move can extend to $1824 and $1833

SunilKumarDixitSKCharting

Yesterday's uptrend gained strength from weakened Dollar amidst holiday season thin trading volumes in absence of institutional players. Buoyant Gold climbed all the way to $1833 only to give up most of the gains closing the day at $1812 which some $22 below the Day high. As explained in last report, expected profit booking from resistance zone pushed Gold all the...

SunilKumarDixitSKCharting

Current Stability Above $1800 indicates potential for continuation of uptrend for Resistance Zones of $1812-$1815 If Gold finds enough Buying momentum above this zone, Gold Bulls may attempt for next Resistance zone of $1822-$1824 On the flip side, Resistance from above mentioned levels will indicate weakness resulting in a drop to $1800 below which prices may...

SunilKumarDixitSKCharting

As yesterdays drop to $1784 was a chance for some retail buying in the wake of thin volume, Gold got some support with Day closing above $1792 As long as Gold sustains above $1792, some recovery towards psychological $1800 handle is likely above which up move can extend to supply zone of $1805 followed by $1812 Weakness below $1792 will indicate entry of sellers...

SunilKumarDixitSKCharting

As yesterday's rally paused at $1821 and halted before recent $1824 high, some retail profit booking may cause momentum distribution and prices may correct to support levels at $1812-$1805-$1798 Falling Chanel formation may result in Bullish Flag Breakout if Gold finds enough buyers from Support zone. Resumption of uptrend may begin by retesting yesterday's $1821...

SunilKumarDixitSKCharting

As long as Gold sustains above $1792-$1796 support zone, continuation of uptrend aims to test $1810-$1813 If retail profit booking draws sellers, prices can come down to $1800-$1796 and even $1792 Alternatively, consolidation above $1800 can help Gold resume upside momentum for next leg higher $1824

SunilKumarDixitSKCharting

As long as Gold sustains above 1788, chances of upside movement towards 1800 remain valid. If Gold finds enough buying momentum supported by 1788, Gold consolidation above 1800 psychological 1800 handle can extend gains to 1810 Further strong acceptance above 1800-1810 zone can boost Gold to retest swing high of previous week at 1824 If current bullish rebound of...

SunilKumarDixitSKCharting

Sustained move above 1786-1788 is required for upmove towards 1795 which is a Turning point for further gains to 1804-1810 If Gold finds enough buyers above 1810, expect a retest of 1824 On the other hand, rejection from 1786-1788 or failure to clear 1795 will result in correction to support of 1774 and extend drop to 1765 and 1745

SunilKumarDixitSKCharting

High Probability Gold Trading Set Up Following yesterday's $1824 high and $1810 close, a pull back and consolidation towards $1800 - $1795 is very likely. Since the short term trend is bullish, Buyers are likely to accumulate long positions at the test of support zone. It is a high probability that the Gold rally may resume to retest recent high of $1824 and...