Gold moved down for the 2nd week in a row. Bear managed to bring it down below 1700 and closed at 1680 after making a new low for November at 1666. 1666 is the current support level as price is ranging or consolidating around this region and
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Read more →Overview 400pips up previously, 300pips down the next instance. Week 27 essentially abided by the structured way of how market should progress within a symmetrical triangle. Expectation for Week 28 The consolidation is obviously tightening. As evaluated last week, a breakout is on the horizon. We should
Read more →Overview of Aussie: Audusd seemed to be trapped in a consolidation phase this whole week of 27 (marked in green) Anticipation for week 28: In D1, price has stopped at a suspected resistance level of Fib Retracement 61.8. Zooming into H4,we can see a potential double top
Read more →Gold closed the week of 17th June at 1538, which is higher than previous week close. At the beginning part of the week, gold attempted to break the uptrend line (drawn from 15 Mar’11) but it was supported and rebounded from it. Overall, gold trend remains on
Read more →Last week, I mentioned that AUDJPY still remains in consolidation. Coming to week 22, nothing much has changed. The market seems to be preparing itself for a huge movement which could be confirmed once price breaks out of either boundary of a very big triangle chart pattern.
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