Showing posts with label Gold. Show all posts
Showing posts with label Gold. Show all posts

Tuesday, August 20, 2013

Gold setting stage for a Possible Large downside correction

Gold prices show a clear 5 down from top of 32780 levels and than bounced back sharply now facing Resistance at 78.2 RT fib .  the RSI is also at imp resistance . Medium term if we see a possible  zig zag 5-3-5 correction we could be headed as low as 23000 again --- please ignore the current week candle which looks like doji as Snap take mid week

MCX Gold Weekly 

Sunday, August 7, 2011

Gold & Silver Charts , Gold Could be near a short term top

Gold Makes a Run away , Exhausation gap at open today and manges to Cross the Longterm weekly Resistance of 1684 which was very Crucial level For bears , Expecting  high Volatility in Intraday Now coz of short Covering Which can take prices up will 1707--1716 , which Co-incides with wave Levels of 5=1 . A Failure to close abv 1716 Could be indiaction of Medium term top in Close and Push Prices DOwn till 1525 which would be 23.6 % retracement of Complete Move of decade , if we C the Prices pushing Higher abt 1716 could be a extended 5th which can go higher till 1781 than

Silver : Explanation on Charts

Thursday, May 12, 2011

Silver update

Silver Looks to have Completed 5 waves down From Recent High of 49.7 & looks like time For Seriously Sharp Pull back , if the 5th wave gets extended Breack of 32 $ would be a confirmation of same , than Can Extend till 28.4 ..but When we Look at other Precious metals Charts Along with it Should See a bottom near these levls and again pull back to 44 Levels in coming days 

Wednesday, March 23, 2011

#copper , #gold , #silver Trading Levels For short term

Copper (MCX) Looks Strong -- till time prices holding the Key Level of 430 --- One Can expect An Further upside till 442--445--449  , Downside Below 430 Support at 426.5 ---410

Gold  & silver Faceing Resistance near Previous week's high on Comex , a Sustained trade Above Same Can Push prices Further up on Gold till 1447$ --1465 $--1489 $ and on Silver 36.5 $---37.2 $--38.4$
On downside Important Support on Gold now at 1415 $ & silver 35.2 $

Monday, February 14, 2011

#gold short term view

Gold prices Re-tested the Neckline Resistance of breakdown From multiple tops made Near 1422 Levels Zone previous Week,Which also Looks like a Complex Head & shoulder pattern. The Neckline as if now is poised near Same levels as of 100 DMA currently at 1368$ . Which is proving to be strong Resistance .

On the downside the 55 DMA at 1332 $ is also Proving a Strong Support below that important Support comes at 1305 Levels which also co-incised with the Short term Bottom and Medium term  channel Trend line .

till time Prices are trading below 100 DMA and Key neckline Resistance . We Look downwards on gold Prices to test previous bottom and Final Reach the Patterns target at 1240 $ . Stops Could be well placed above 1384 $ closing basis . A Close above Same Would Invalid the view .

gold daily

Tuesday, December 14, 2010

Gold Silver Update

Unlike Gold, Silver seems to be completing a final v subminor up. This seems to be a completion of the leg up from Nov 2009. And considering the large exponential blow off that we illustrated prior and Silver topping the Jiseki rankings we continue to look at any leg up on Silver now as the last leg after which the white metal should fall back into 22.40 previous iv wave supports. Gold also seem to be in the final Y minor leg up and should follow silver down.

Done in association with orpheous Asia Intraday Service (Ticks Global)

Tuesday, November 23, 2010


Gold has a clear five wave impulse down. The B wave should end near 1,380 levels after which the C wave down to new lows below 1,320 should begin. Silver looks more like a 3-3-5 structure. We see the B wave complete and prices starting a C leg lower till 25. OIL is also stagnating in a B wave, which should resolve lower. Dollar index remains in B wave till price clearly move above 79.55 previous highs.
(Article written in association with Orpheus CAPITALS -- ticks Global Intraday Service)

Wednesday, October 13, 2010

Gold Near Resistance Zone

Gold Near important Trend line Resistance in zone of of 1380-1387 $ ,
The Rsi is Extremely overbought and Showing Negative Divergence . This Resistance is Almost near physiological Resistance of 1400 $ ,
This even co-incised with wave counts of Major 3 -5th wave Extended , Suggesting we are Near top. Will Look for key Reversal Here Any time soon , Opening Downside targets till 1310--1265 $

Tuesday, September 14, 2010

Gold Short term view

Prices Head For Crucial Resistance Zone of 1288-1295$ levels , Almost Near the physiological Resistance of 1300 $ , We Expect The prices to Reverse From the Current level Looking at the Negative Divergence on RSI and Resistance coming up From upwards End of Rising Wedge ,

Friday, July 2, 2010

Gold MCX & comex medium term View

Gold MCX weekly Charts technical outlook

Gold made a lifetime High of 19198 Rupees in the first week of June 2010 , And Formed a Doji at top of charts on weekly which is Sign of short term reversal

Looking Closely at weekly Charts it almost reversed From top end of the Channel in which it has been trending Since of February 2009

Gold Initially in mid month of Feb made a high of 16036 And corrected to 13931 in Next 10 Weeks giving a correction of approx 13 % . Later on bounced back to Make a New high at 17650 and Corrected to 15950 in next 10 weeks correcting almost 10 % , the correction period both the time Lasted for 10 weeks
Now at current levels it has again reversed From top end of same channel and expecting it to take Support at bottom End of Channel which is near 17200 levels and almost indicating that it could be a approx 10 % correction if it follows same time sequence of correcting approx 10 % in 10 weeks From top which it made First week of June and Than we could expect targets of 17200 lvls around second week of august
RSI on weekly charts has Also Reversed From overbought Zone and point downwards currently placed at 65 zone

Week end Feb 15 2009 12th April 2009
16036- -13931 net Change --- 2105 Rs == ~ 13 %
correction Time Period ~ 10 Weeks

weekend 29 nov 2009 31st January 2010
17650—15950 net Change = 1700 ~ 10 %
correction Time Period ~ 10 Weeks

Week ended 6th June 2010 - 19198 -- ????? Expected target 17200 lvls
19198—17000 net change 2198 ~~~ Approx 11.5 % correction Expected by August Second week

Gold GC Comex

Gold Comex made a life time high of 1265 $ which was end of 5th wave of Complete up move which Started From medium term Low of 1044 $ made in Mid may of 2010 . Now is start of 3 wave corrective pattern Which would Open Downside targets of wave a till 1165 $ and than probably bounce back till 1230 $ lvls Which could be Wave B and than Final wave C ending at 1121 $

Note both the above views would be Negated if Comex Gold Crosses 1265 $ in short term Or MCX gold Closes above 19000 Rupees

Friday, June 18, 2010

Gold Short term view

Gold Comex Yesterday Re-tested The Recent Double top High of 1251 $ which is now a triple top On daily Charts

A Strong Resistance to Cross Over-1251--1253 Zone
Closely looking at daily Charts it has also formed a Cup handle pattern Suggesting that breakout above 1251-1253 zone & sustained trading above Same Can take it to 1281 $--1312 $ In short term
Failure to Cross Over above 1251 and close above it for two days could negate the pattern. On Downside if Manages to Break 1227 $ it can lead to Re-test of Recent Lows Near 1205--1164 $ .
As Far as 1227 $ is held on closing basis Look to Trade on upside for targets of 1281 $--1312

Tuesday, March 2, 2010

Gold Possible Inverted head & shoulders

Gold possible IHS on daily comex charts -- Neckline placed at 1137 $ , Close and Sustained Trading abv Same can open upside trgt till 1160--1174 in short term , Failure to Cross Same could Lead to Retest on downside again till 1110 $

Monday, March 1, 2010

Gold Short term 1125--1132 Strong Resistance to Cross

Gold Strong Resistance near 1125--1132 Zone in Near Term,

Looking at the Daily Charts of Gold in Medium term It has been moving in a Sideways downward biased Channel , the top end of the Channel is now near the 1123--1125 Zone Which will be A Strong Resistance to Cross ( Marked with PINK Lines on the Chart)

and in the Short term it has been Moving in a triangle (marked with orange Lines) So break above 1126 Zone Would Face Resistance at 1132 Where the upward Rising trend line of triangle is based. Which indicates that Fresh longs Should be taken if the Daily Close Manages to Close above 1132 levels for upside target of 1163--1174 targets , On Downside break of 1102 Will again indicate that the trend is Reversing again to Retest the Downward end of channel with Breakdown from the triangle opening Downside target till 1088--1065 $ -1044$ - 1005 $ , which Would possibly Mean the end of Short Term Zigzag Correction

The Leading indicators on Daily & 4 hours Charts have shown a Cross Over on the Downside from overbought Zones, Indicating some Shorts Are Being Created near Current levels

For Subscription Details Add Yahoo id chiragkb5 or Call 9769980696
Email :

Thursday, December 17, 2009

Gold Short term view

( Click On the image For larger view)
Gold after Making new Life time High at 1226.25 $ , Saw Some Sharp correction & profit Booking in past three Weeks Correcting more than 11 % due to strengthing Dollar, manged to Closed today below the psychological level of 1100 $ making a Intraday low of 1095 $

Technical view: Gold has Multiple supports in the Range of 1085 $ --1070 $ . The Current fall should halt anywhere between these levels before it Resumes a pull back or Starts consolidating in Range of 1065 $--1123 $ . The First support is at 1083 $ which is Cuming from the trend line Support From the August 2009 Lows of 925 $ and Rising to above Levels . The Second Important Support Comes at 1078 $ which is 50 % Retracement Level of the Complete up move Which started from 922.5 $ in August 2009 to current high of 1226.25 $ December 2009 & below that is support coming From previous Resistance line - trend line Connecting the March 2008 high to Jan 2009 high Placed at 1070 $ . Sustained Trading below the 55 EMA at 1102 levels would mean that gold Is heading to test the above Mentioned Support levels

The daily charts Slow Stoch is completely in oversold zone and near the cross over suggesting a Small pull back is or consolidation near current levels cant be ruled out . The 14DRSI is at 39 approaching the Oversold zone .

A Close below 1070 $ level would Mean that gold in setting stage for a Longer term bearish market Opening further Possible downside till 1033 $ --1018 $-084 $

Sunday, September 20, 2009

Gold Short term view 200909

(Click on the image to Have Enlarged proper view)
Gold edged higher to 1025.8 last week but lost upside momentum ahead of 1033.9 key resistances. With bearish divergence conditions in 4 hours MACD and RSI, a short term top might be in place. Initial bias is neutral this week and we'd expect some pull back towards 983.2 support. Nevertheless, downside should be contained by 61.8% retracement of 931.3 to 1025.8 at 967.4 and bring rally resumption. On the upside, while another rise might be seen, it now looks like 1033.9 key resistances will hold on first attempt and bring consolidations first.
Looking carefully at last week move which is first caution Sign for Bulls the weekly closing candle is DOJI clearly indicating a Indecisive Move Ahead. On the daily charts it has formed bearish engulfing pattern. The Continuous chart of 4 hours showing a Clear Candlestick bearish reversal pattern with a Shooting Star at the top. Looking at all the above condition and lead indicators which are widely the Next week Could Move in consolidation and Breach of previous week Low would Clearly Signal A Short term top in place. While some pull back might be seen in near term before decisive break of 1033.9, downside should be contained well above 931.3 support and bring rally resumption. However, note that a break of 931.3 dampen the bullish view and suggest that rise from 681 has completed. This will indicate indicate that such rise is merely part of the consolidation pattern that started at 1033.9.

Gold Supports & resistance For Next Week
Support at 996 --984--967
Resistance at 1012--1024-1033-1052-1084-1114--1129

Tuesday, September 8, 2009

Gold Short term technical view -

Gold Short term technical view : comex
Gold Short term view: Gold Closed down sharply below the 1000 $ mark, after making intraday High of 1007$. Profit Booking at current psychological level of 1000 Dollars cannot be ruled out as gold after consolidation for last weeks rallied Sharply and has reached this Crucial level again almost after six Months. Last time it made a High near this level was Exactly on February 20, 2009 making it a Double top on daily charts, Signally a Pause in the up-trend same time first caution Sign for the Bulls. Making 1007 $ now as very important Level Closely looking at the daily charts Can see a Nice inverted hammer - shooting star Formed at top Signally a pause in the current trend and the first caution Sign. The Reversal comes with Signals as Double top on daily charts, near the short term upward Trend line Resistance of Expanding triangle it was shaping up in last few weeks. Looking Closely at the Intraday 4 hour Chart which is widely followed, It made a good harami Reversal Exactly above the triangle breakout Level giving a False signal of buy near the top and reversed Sharply in the day to make New lows intraday .the Above all factors Shows that gold is Clearly loosening strength near the current Levels and Now will Face quite string Resistance at 1007-1012 mark , a breach above Same could upside up to 1033$ . As gold is now in the overbought zone which is indicated by the RSI on daily and Hourly charts any Rally on the upside above 1007 would mean shorts covering and nothing else. On the Downside if gold manages to Close below 984$ in a day or two would mean a confirmation of Short term possible top and could open possible Down side targets of 975$ & 955 $. Though Strong Support is Expected in zone of 928-942 $ , For Medium term . A close Below Same would open downside targets till 875 $

Trend Reversal levels: 984 $

Trend bias : Further Bullish Only above 1007 or else Sideways to down Possible

Next targets :975$-955$

(Reco:Note Those taking Fresh shorts at current level best possible SL is 1007 $ and Those Already long can Either Look to exit on Rise or maintain a trailling Stop Loss of 984 $)

Tuesday, August 4, 2009

Gold Technical Analysis 4th August 2009

Gold breaking out of Inverted head & Shoulder With Height of nearly 44$, Which Opens an upside from 965 $ to 1009$ , With intermediate Resisatnce at 980$--992$--1004 $ , Long traders can maintain SL below 955 $ closing basis