GOLD

7 Jun 2022

While correction gold's recent bounce rejected from RK's stop line along with upper bollinger band on daily time frame, as per wave structure we had marked it as wave X, Overall wave structure is still suggesting corrective phase only, along with trend indicator's support as a same bias by macd on multi time frame, stochastic on daily time frame, RK's momentum and also Dollar index resumes its rally, so Gold can see its slide to south direction near $1710, where wave Z can be equal to wave W. Once price closes below 20DMA which is pegged at $1842, then bear strength can show more power.

Gold has possibly started its wave Z


On daily chart histogram is decreasing


Weekly macd is already in negative way


Monthly macd is also in negative


Daily stochastic negative crossover


RK's momentum also not sustaining positive on daily chart


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Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.

19 Jul 2022

Catatan

Gold update as per wave structure seen in hourly chart