Gold is Moving in an upward channel with indicators all saying Bullish. All my bullish targets are met by the grace of Almighty (1950-1980-2000 approx). (See my previous Posts) Gold has reached a important point the Psychological level of 2000 where price was rejected on Friday.
After the rejection i am seeing a Head and shoulder pattern. I think price will come down to test the 50s now. Now the H&S neckline is 1975-1974 and TL which depicts the buyer’s sequence, i see this sequence will be broken with breaking of 1970 level. And in such a case, I think price will test the Trend line , the 2nd buyers sequence at 1950.
So i think price will test 1950 next week which will be my target for selling at 1982-1985 level.
On Fundamentals end, i think Position in Gaza will calm down a bit as RAFA corridor has opened for aid. I pray for the world peace.
Good Luck and have fun trading along with profits!!
Do comment on the Analysis and the idea!
After the rejection i am seeing a Head and shoulder pattern. I think price will come down to test the 50s now. Now the H&S neckline is 1975-1974 and TL which depicts the buyer’s sequence, i see this sequence will be broken with breaking of 1970 level. And in such a case, I think price will test the Trend line , the 2nd buyers sequence at 1950.
So i think price will test 1950 next week which will be my target for selling at 1982-1985 level.
On Fundamentals end, i think Position in Gaza will calm down a bit as RAFA corridor has opened for aid. I pray for the world peace.
Good Luck and have fun trading along with profits!!
Do comment on the Analysis and the idea!