- Gold 4 hour chart shows the starting of an up swing. This setup will remain effective till price stay above the cloud.
- Immediate resistance at 1239 levels. Above this price can target 1251 and 1262 levels respectively.
- Weakness if price starts to trade below 1226 levels.
- CRUDE OIL INSIDE AN ARC
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- 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.
- CRUDE OIL Chart Update
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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 1 Hour trending below the cloud. Staying below the cloud Gold bears likely to see 1200 and 1190 levels.
- 4 Hour chart shows a bearish channel in place. If the channel stays intact, Price likely to target 1187 levels.
- Warning of a reversal if price moves above 1 Hour cloud.
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- Gold one hour chart shows price trending down.
- But the falling price is moving towards crucial support zone between 1217 and 1222 levels. If this level holds another up swing will start.
- Bigger bearishness if this level is not held. Possibility of visiting 1180 levels if the above mentioned support level is not held on closing basis.
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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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- Larger and smaller time frames looking bullish.
- For the short term bulls will remain strong above 1252 levels. Hope for Gold bears only if price starts to close below this level
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- Gold in a range between 1217 and 1246. Right now price is falling from the resistance zone towards the support zone. Weakness will continue as long as price stay below 50 period SMA as shown in chart two.
- GOLD Weekend update
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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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- Gold testing the 4 hour cloud.
- Crucial support zone between 1195 - 1200. Break below this zone and the 4 hour cloud can give a reversal in favour of gold bears.
- Gold bulls need to stay above 100 Period SMA to avoid bigger correction.
- ES Month, 4 Hour and 30 Minutes chart analysis
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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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