- Gold 4 Hour and Weekly charts shows the current down swing. This could last till 1200 levels.
- Weekly chart also shows a possible Triangle contraction. If 1200 is not held on closing basis price may slide further towards the rising support line.
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- Gold one hour chart shows 100 Hour SMA as immediate support.
- 4 Hour chart shows crucial support resistance zone around 1243. Gold bears need to keep price below 1243 levels for bigger falls to follow.
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- Three charts all showing Gold testing crucial resistance zone. Gold bulls must close price above these levels to keep the current upward momentum intact. Weakness here may favour gold bears for a correction.
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- Gold 4 hour chart shows price testing 100 Period SMA. Bullish candle at the current levels can lead to a reversal.
- As the second chart shows price is staying below crucial support lines. Gold bulls need to get back above these lines to avoid bigger correction.
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- Crucial support for Gold at the 100 Period SMA. Closing below this line may extend the weakness seen in this time frame.
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- First chart shows previous resistance acting as support for gold. So this are will act as crucial support for Gold going forward.
- Price is turning down from 1245 levels which is the recent swing high will act as next resistance zone.
- As price is turning down a bearish trade is possible below 50 period SMA. Staying below this level the targets are 1218 and 1227
- Gold bulls trying to hold on to crucial support zone. Price staying below 50 period SMA is negative for bulls But Gold bears need to do more and stay below 1220 levels for bigger falls to follow.
- Staying above 1220 Gold bulls can make a comeback to extend the up move.
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- Gold 4 hour chart shows previous resistance line acting as support.
- This line is around 1224 levels for the coming week.
- Rising 50 Period SMA can also act as support in this time frame. 4 Hour candle closing below this moving average can lead to bigger fall. Similar set up is shown on the left and side. For now though staying above 50 Period SMA price is likely to move towards 1245 levels first.
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- Gold Hour chart shows strong support from the cloud.
- Price movement likely to be negative for bulls in hourly chart because of the resistance line.
- Bigger correction will not be possible as long as price stays above hourly cloud.
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- Gold 4 hour chart shows price bouncing back to the broken cloud and 100 Period SMA.
- Immediate strength and weakness levels are shown in one hour chart. Trading above 200 Period on closing basis may tilt the balance in favour of Gold bulls. Trading below 1190 will resume correction.
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- Gold bears are at an Advantage for Now as price is staying below 4 hour cloud and 100 Period SMA.
- So the crucial resistance level for the current bounce is between 1197 - 1200. Selling at higher levels is safe if the bounce is up to that level. Anything above 1200 may tilt the Advantage in favour of Gold bulls.
- GOOGLE Weekend update
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- Gold fell below the 4 Hour cloud and 1200 levels has changed the price structure in favour of bears.
- Now bounces from here towards the cloud or 1200 levels will still be considered bearish.
- Short term will favour bearish trades till price stay below 15 Minutes cloud
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- Gold has fallen below 4 Hour cloud and 100 Period SMA.
- Gold bears need the current candle to close at the lows or at the current levels to confirm bearish structure.
- Staying below the cloud and 100 SMA possible targets on the downside are 1185 and 1164. Only if price moves back above the cloud this scenario will change.
- TESLA Monthly Tops and Weekly resistance line
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- The trend lines and Moving averages are getting tested again. This time the price action also suggests that bulls are getting exhausted after a good run, But the directional change is yet to be confirmed. Bears can gain strength only if price starts to trade below 1200 levels again. Usually after such bullish moves price starts a consolidation sideways move to keep both bulls and bears guessing before taking a directional move again.
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- Gold weekly chart shows price moving into the 1200 zone. This area acted as a support zone previously so it may act as resistance.
- One hour is showing strong trend above 100 Period SMA. Gold bears need price to sustain below this moving average for a bigger correction to happen.
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- Gold 4 hour shows major levels on chart. sustaining above 1180 should push the price towards 1196. Weakness could take price back towards 1167 levels.
- Weekly chart shows price moving towards the Broken support zone at 1200. Being a round number this area will be crucial for gold bulls to break and stay above.
- One hour chart shows the bullish structure intact in smaller time frame. Weakness starts if this structure is violated.
- CRUDE Oil chart analysis
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- If the support levels shown holds Gold likely to resume the bounce.
- Weakness only if price stays below 1144 and 1136 levels.
- Staying above 1144 price likely to move towards 1160 levels again.
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- 4 Hour chart shows immediate support levels. Weakness if price starts to trade below these levels.
- Weekly chart shows crucial resistance line. Gold bulls must sustain above this line for bigger up moves to happen.
- Weekly chart look strong as price sustains above cloud.
- First chart shows strong support line of gold. current trend would become weak only if this line is broken.
- Immediate resistance level at 1300 levels.
