Gold directionless as of now..
Diupdate
2335 to 2290 Is going to be a Crucial Zone.
If Respected,
2 Possible Scenarios
Green - 2466 Zone could be tested
Yellow - Some more consolidation before the Next Lower Low around 2170
If Broken
1 Possible Scenario
Red - 2220 Zone could be tested.
If Respected,
2 Possible Scenarios
Green - 2466 Zone could be tested
Yellow - Some more consolidation before the Next Lower Low around 2170
If Broken
1 Possible Scenario
Red - 2220 Zone could be tested.
Catatan
A retracement of 0.23 might be just enough for the fall that began from 2450 levels.If gold sustains below 2350, may be 2310 2290 zone could be tested in coming sessions
Catatan
Trend Reversal Underway on smaller time frame. Confirmation on sustaining above 2340Catatan
That's some bounce from 2335Zone mentioned in weekly analysis.
Let's see if there is follow up buying
Catatan
Weak price action,Opening doors to 2310 2290
Catatan
On sustaining below 2334Catatan
2317 first Target.Observe price action around 2317 to decide Further direction of Gold
Catatan
2320 zone has been respected and there has been decent buying from this zone. Again another level mentioned in weekly analysis.
If there is follow-up buying.. Which looks like the current scenario, then more Bullishness is Possible.
Catatan
2317 has not been tested. Some error on my side in marking the level.Catatan
Green Scenario could be in playCatatan
This analysis is still valid for coming week.Keep a watch in this zone 2320 to 2290.
It will be make or break.
If respected, then As mentioned last week, Green scenario could be in Play
Catatan
Green/Yellow if respected Red if Broken
Catatan
Respected as of nowThe mentioned zone.
Let's see if there is followup buying
Catatan
Now if Gold sustains above 2325 2320, Then Higher Highs are possible.Bearishness resumes below these levels only
Catatan
Above 2355 More Bullishness is possibleCatatan
2400 2410 area to watch for above 2380Catatan
2350 2340 could be value area to longCatatan
As mentioned 2400 2410 is On
Catatan
Gold remained just shy of 2400 as it reversed from 2387.Taking my Trailing SL.
If gold sustains below 2340, next support is at 2308.
If gold bounces from 2335 zone and sustains above 2340, only then some Bullishness is possible.
Else, 2308 could be tested and if volatility sets in, lower levels at 2290 cities be tested.
Below 2290, Hell Breaks down
Catatan
2308 doneCatatan
Unless gold trades above 2320More bearishness is possible.
Catatan
Above 2320, 2350 could be testedCatatan
2280 could be tested if Gold Sustains below 2305Catatan
Below 2280, 2220 could be tested
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