After a bounce,gold prices taken pause from last two sessions and we are witnessing some sideways moves.
Last session we witness the breaking of both two supporting levels.But gold prices not able to get some more downside movements.
I think we are witnessing newly firmed complex patterns in NEo Wave Theory, Like Dimond Shaped or Bow-tie Diametric.
Check Second last image its 4hourly simple candlestick chart,we can see some contracting bias is there in lower time frame.
Gold prices are above all daily key moving averages so short term strength is there.
Last session gold prices fall below 4hourly SAR level so minor weakness is there,Above Some strength will come.
Gold prices are above Daily and Weekly SAR level so short term strength is there.(For SAR level Check Last Image)
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Initial Watch:-
Possitive:-If XAUUSD able to break 1238.46 then some upside is possible targets may leads 1251.90/1259.62 and more.
Negative:-If XAUUSD is unable to hold 1209.50/1200.64 as well as Daily and Weekly SAR level then minor weakness will come.
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Thank You.
Happy Disciplined Trading.
Last session we witness the breaking of both two supporting levels.But gold prices not able to get some more downside movements.
I think we are witnessing newly firmed complex patterns in NEo Wave Theory, Like Dimond Shaped or Bow-tie Diametric.
Check Second last image its 4hourly simple candlestick chart,we can see some contracting bias is there in lower time frame.
Gold prices are above all daily key moving averages so short term strength is there.
Last session gold prices fall below 4hourly SAR level so minor weakness is there,Above Some strength will come.
Gold prices are above Daily and Weekly SAR level so short term strength is there.(For SAR level Check Last Image)
------------------------------------------------------------------------------------------------------------------
Initial Watch:-
Possitive:-If XAUUSD able to break 1238.46 then some upside is possible targets may leads 1251.90/1259.62 and more.
Negative:-If XAUUSD is unable to hold 1209.50/1200.64 as well as Daily and Weekly SAR level then minor weakness will come.
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Thank You.
Happy Disciplined Trading.
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