In last session we witness some fall in gold price.Weekly trend is till having upside potential.
In weekly chart we are witnessing an expanding traingle.
For today i will suggest to wait till break any side level for entry,If price break 1250.34 then initiate the sell position and if price broken 1286.20 then initiate the long position.
We can see the trendline resistance on 4hourly chart.(Check third chart)
Demand-Supply Zone::
In last session we witness price never respect one intraday demand zone.
Demand::1257.97-1251.99
Supply::1280.49-1269.69
Gold is below two important moving averages and one pivot level so minor weakness is there.
Gold is below Daily and 4Hourly SAR level so short term weakness is there,Above this level major strength will come.
(For SAR level Check last image)
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Thank You.
Happy Disciplined Trading.
In weekly chart we are witnessing an expanding traingle.
For today i will suggest to wait till break any side level for entry,If price break 1250.34 then initiate the sell position and if price broken 1286.20 then initiate the long position.
We can see the trendline resistance on 4hourly chart.(Check third chart)
Demand-Supply Zone::
In last session we witness price never respect one intraday demand zone.
Demand::1257.97-1251.99
Supply::1280.49-1269.69
Gold is below two important moving averages and one pivot level so minor weakness is there.
Gold is below Daily and 4Hourly SAR level so short term weakness is there,Above this level major strength will come.
(For SAR level Check last image)
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Thank You.
Happy Disciplined Trading.
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