Gold: Downside correction or big Fall? Feb 2020

10-Feb-2020

Break of 1569, we can see 1566, 1562, 1559, 1556... 

 

 

07-Feb-2020

CMP: 1566.31; Res: 1574/1594; Sup: 1547/1535
If Gold resisted by the above resistances, we can see 1522-1505.
Alternatively, if 1547 supports, Upside tgt 1595,1604, 1618.

Best sell entry: 1567-68, SL 1569.5/1574 max.

 03-Feb-2020 9:45 AM IST

CMP: 1579.86; Sup: 1577; Res; 1594
Above 1581, we can see 1582.8, 1584.8, 1586.5, 1588-1589.3...

03-Feb-2020

CMP: 1583.x; Res: 1594; Sup: 1535
If gold resisted by 1595, we can see down move towards 1580, 1572, 1565, 1558, 1552.
Break of 1535, can see 1520-1480.
Sellers best entry: 1587-1590, Max SL 1595.

GOLD: Down trend continues? 31-Jan-2020

CMP: 1572.x; Res: 1586; Sup: 1570
As long as Gold resisted by 1586/89, we can still see 1560-1554, 1545-1541. And 1520-1510 as extension.

Gold: Some more down left? 28-Jan-2020

CMP: 1574.x; Res: 1583
As long as res holds, we can still see 1570-1566.

GOLD: Down move? 27-Jan-2020

4:45 PM IST

CMP: 1585.x
For down move Gold must break the down trend line and 1575.

27-Jan-2020

CMP: 1579.x; Res: 1589/1613; Sup: 1535
If Gold resisted by the above resistances, we can see 1560 first and further 1542-1535.
Below 1535, we will see 1513-1505-1495, 1480-1466 as extension.

Previous Analysis:

https://ewavesjournal.blogspot.com/2020/01/gold-upside-correction-and-fall-26-jan.html
As per this analysis, Gold reached upside normal target.

GOLD: Upside correction and fall? 26-Jan-2020

CMP: 1571.x; Sup: 1557/1546/1534
As long as 1557 supports, we can see more on upside towards 1582-1595 before fall towards 1534/1521/1505.

Break of 1613, we will see 1638/55 positionally.

GOLD: Still bearish 23-Jan-2020

CMP: 1557.x; Res: 1564/1569
As long as above resistances hold, we are in short term Sell.
TGTs: 1512-1535, 1528-1524, 1514, 1506, 1498-1480...
My Strategy: Sell on Rise with 1564/69 max for the above targets.

Gold: Bearish Scenario: 22-Jan-2020

CMP: 1553.x; Res: 1560/1569; Sup: 1546
As long as 1569 resists, we can see 1546-1541 initially and 1538-1532 (min tgt).
Further 1524-1515, extension 1498-1480.

 

 Any Break of 1569, must reanalyse.

Gold: Primary Scenario: Bear? 21-Jan-2020

CMP: 1555.x; Res: 1569/70, Sup: 1547/1535.
As long as 1569 resists, we can see 1548-1541 initially. Break of 1548 needed for more fall/
Further an move down to 1529-25, 1515-1508, 1498-1494...
Break of 1569, bullish and analysis will be revised.

GOLD: Bull OR Bear? 20-Jan-2020

CMP: 1559.9; Res: 1562/63; Sup: 1556/1548
As long as Gold resisted by 1563, we can see 1559.8-1559 (done).
Further Small targets: 1558, 1555, 1553, 1551....
Postional Targets (SL 1563 max): 1535 (min tgt), 1518-1508, 1492-1475 (normal tgt)

Alternate View:
Break of 1563, can lead to 1564, 1569, 1573, 1582-85... Buyers SL 1548

GOLD: Can we make another low before up? 16-Jan-2020

CMP: 1556.x; Res: 1563/65; Sup: 1535.
As long as the upper trend line resists, I expect to see a new high and fall towards 1535-28 before big rise up.

Gold: Many possibilities 15-Jan-2020

CMP: 1551.x; Res: 1563/1612; Sup: 1535
Have given 3 views in the chart.

Scenario 1: Can move up towards 1557-1563 n reverse back to 1535-1530-1522...
Scenario 2: 1535 holds support and up move as wave B towards 1570+ n reverse back to 1535...
Scenario 3: If 1535 is the end of correction, can move to 1636 which is an ultimate upsid target as per my previous analysis.

Thanks.

Gold Analysis 30-Nov-2017

CMP 1271.xx
Sup: 1263.45(55)/1260.38(34)
Res: 1298.99/1305.84

If Gold supported by the above supports, I expect to see 1305.84 first and further 1308, 1337, 1354, 1369, 1382...
View will be revised, if breaks 1260, Until then I will hold with Bullish view.

READ DISCLAIMER BEFORE TAKING ANY TRADING DECISION.