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Gold will come back to the $1800 level?

August 1, 2021, 2:04 pmMay 31, 2022 0 17923

On 16 July, gold has crashed over $60 during the FOMC event. At that time, Commodity Futures Trading Commission (CFTC) data was highlighting selling pressure.

And on 27 July, CFTC data was said OI (Open Interest) of a gold future contract is 500,187 and total shorts 481,533 & buys 452,107. But, gold prices increased.

We have to notice that the bullish rally wasn’t powerful compare to the 16 July data. And selling pressure has higher compare to buyers. Hence, gold has moved bearish side in the last trading session.

If gold wants to move upside, then it has to crossover my strong resistance. That will lead the gold’s prices above 1840 – 1860 – 1882 – 1900.

But if you focus fundamentally & CFTC data, XAUUSD will keep falling and touch the following targets: 1800 – 1793.6 – 1783.6 – 1763.6. Gold is making double top formation also.

Part 2: What Drives Gold (XAUUSD) Prices?

July 25, 2021, 6:33 pmMay 31, 2022 0 20063

Previous Article:
XAUUSD (Gold Spot) & MCX Gold Will Skyrocket?

What’s Next:
Key levels: 1793.6 and 1783.6
According to my previous newsletter, my gold key levels will remain the same. It’s not sellable until breakout the 1766 (strong support).

In XAUUSD, buying pressures are increasing. We may see 1812 – 1824 – 1836+ levels.

Alternatively, gold is taking a reversal from the first key level, so its upside rally may be weak. But, day traders can play between my range. And stop buying when it breaks the first key level. That could drag down the gold price directly at the second key level (1783.6).

And gold’s closing price below 1783.6 means blast. It may hit the strong support level directly.

Please note, don’t forget to watch significant releases or events mentioned above in the chart that may affect the movement of gold, silver, and crude oil.

USD/JPY May Continue Decline

July 18, 2021, 4:53 pmMay 31, 2022 0 18092

USD/JPY has made a high of 111.66 and took a U-turn. Its impulsive wave breaks at support trendline breakout. It can keep falling from the dynamic resistance trendline (DRT). We may see 109.54 – 109.15 – 107.48 soon.

Don’t sell after a breakout of DRT or 110.7 level. And do not forget to watch significant releases or events mentioned on the above chart that may affect the movement of USD/JPY.Continue reading

Techanical Analysis of USD/JPY

June 27, 2021, 2:44 pmMay 31, 2022 0 12001

According to the 4H chart of USD/JPY, its uptrend can extend and touch the following target prices: 111.11 – 111.50

Invalidation: prices below ii or 50 MA.Continue reading

Will Gold Spot Decline More? (TP 1682.6)

June 21, 2021, 8:25 amMay 31, 2022 0 18882

In-depth analysis: Is it the right time to buy gold?

Gold (XAUUSD) and silver (XAGUSD) has crashed in the previous week. Gold has lost -113.585 points (-6.05%), and silver lost -2.14315 (-7.68%). Millions of CFD’s traders have lost money in that week.

Where’s gold’s bottom?

According to technical analysis and fundamentals research, gold can decline more. Gold has broken the strong support trendline (01) and marching for 02. If it doesn’t close above to trendline of 01 in the first two trading sessions, it will be unstoppable through high selling pressure by speculators. And we will see the target price 2.

Technically, the most popular indicators are indicating a complete downtrend. And Stoch RSI is signaling for a reversal. So, it can pull back up to a retracement level of 38.2% or 01 trendlines. If that not happen, gold can lose 81.635 points more.

In the previous week, gold and silver were falls due to economic events and high selling pressures by speculators. For advance traders, watch significant releases or events that may affect the movement of gold, silver & crude oil.

Tuesday, Jun 22, 2021
00:30 – FOMC Member Williams Speaks
01:00 – All CFTC Speculative net positions
11:00 – Gold Index
20:30 – FOMC Member Daily Speaks
23:30 – Fed Chair Powell Testifies

Wednesday, Jun 23, 2021
02:00 – API Weekly Crude Oil Stock
18:30 – FOMC Member Bowman Speaks
19:15 – Flash Manufacturing PMI | Flash Services PMI
20:00 – Crude Oil Inventories
20:30 – FOMC Member Basic Speaks

Thursday, Jun 24, 2021
18:00 – Final GDP q/q | Initial Jobless Claims

MCX Gold & Gold Spot Price Ready For Another Rally Attempt

April 5, 2021, 8:05 amMay 31, 2022 5 19447

COMEX Gold Price Trapped at Control Price

Gold futures preparing to come at $1740 – $1750 – $1760. Day traders must wait for a breakout of the control price line before entering.

The uptrend will end whenever the gold spot price breaks strong support.

Is Gold Going To 45700 Or Higher?

The chart above indicating a clear uptrend continuation. We may see sideways movement before it hits the top of the rectangle.

According to the Darvas box (rectangular formation), MCX gold will move upward gently this week. Hence, intraday traders can jump between the range of 45200 – 45300.

Targets: 45560 – 45680

If gold breaks the bottom of the rectangle, don’t buy. And wait for my next update on the gold.

NEWLY PUBLISHED COMMENTS: READ WHAT THEY’RE TALKING ABOUT...

Rinky Gautam said on Mar 24 2023
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Yash Sarwagi said on Mar 24 2023
Great catch!
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Sanjana D Reddy said on Mar 24 2023
good pick.
Aashvi Laghari said on Mar 24 2023
Your analysis was excellent. Thank you!