GOLD SETTLE $ 1778 (GCZ12)
Last Friday Gold and Silver both reached their resistence $ 1790 and $ 35.20.
I analyzed a daily long-entry in case gold achieved to close above the 1775. That close was the trigger for reaching the +1800 last week:
It is not important that we always know everything. Sometimes the market has to decide releasing some determined trigger marks. Important for us is the fact that with the Forecasting Method we can always assess better than with any other technical analysis method - what is the general health situation of the markets like.
If the markets achieve to trigger ($ 1780) their respective long-entries within the next three days the rally will go on. This solution is supposed to happen because of the consolidation at the highs during the past days. On the other hand the actual multi-resistance would permit a resolution downwards. Some multi week corrections might be due – at least in gold and silver. Probable down-targets in case of day closes below 1758 and 34.32 respectively would be 1720 and 32.90.
Any daily close below the Support at 34.32 during the three coming days would be a harbinger of an altogether 13 day correction to come thoroughly. And then it will be pretty sure that the downwards. In case of a daily close below 33.90 silver should target the strongest weekly support at 32.90. The actually most important weekly support is located there being supposed to be the most likely down target of a 13 day correction.
Trade Instruction:
1. We’ll cover our weekly silver & Gold long-position in case of any daily close below 34.32 and Gold close below $ 1758.
2. Try to re-enter in Gold near $ 1730-35 with a stop loss place at $ 1717.
3. If Gold not close below $ 1758 till Wednesday........ and triger $ 1780 we will keep our longs for target $ 1810 and $ 1835.
Note : All trades are for December contract.
TRADE LEVEL
RESISTENCE #2.................$ 1800
RESISTECNE #1.................$ 1789
PIVOT ................................$ 1779
SUPPORT #1......................$ 1768
SUPPORT #2......................$ 1758
Happy Trading
Rahul Kumar
Gold Specialist
Contact +91 895-8173-410
Last Friday Gold and Silver both reached their resistence $ 1790 and $ 35.20.
I analyzed a daily long-entry in case gold achieved to close above the 1775. That close was the trigger for reaching the +1800 last week:
It is not important that we always know everything. Sometimes the market has to decide releasing some determined trigger marks. Important for us is the fact that with the Forecasting Method we can always assess better than with any other technical analysis method - what is the general health situation of the markets like.
If the markets achieve to trigger ($ 1780) their respective long-entries within the next three days the rally will go on. This solution is supposed to happen because of the consolidation at the highs during the past days. On the other hand the actual multi-resistance would permit a resolution downwards. Some multi week corrections might be due – at least in gold and silver. Probable down-targets in case of day closes below 1758 and 34.32 respectively would be 1720 and 32.90.
Any daily close below the Support at 34.32 during the three coming days would be a harbinger of an altogether 13 day correction to come thoroughly. And then it will be pretty sure that the downwards. In case of a daily close below 33.90 silver should target the strongest weekly support at 32.90. The actually most important weekly support is located there being supposed to be the most likely down target of a 13 day correction.
Trade Instruction:
1. We’ll cover our weekly silver & Gold long-position in case of any daily close below 34.32 and Gold close below $ 1758.
2. Try to re-enter in Gold near $ 1730-35 with a stop loss place at $ 1717.
3. If Gold not close below $ 1758 till Wednesday........ and triger $ 1780 we will keep our longs for target $ 1810 and $ 1835.
Note : All trades are for December contract.
TRADE LEVEL
RESISTENCE #2.................$ 1800
RESISTECNE #1.................$ 1789
PIVOT ................................$ 1779
SUPPORT #1......................$ 1768
SUPPORT #2......................$ 1758
Happy Trading
Rahul Kumar
Gold Specialist
Contact +91 895-8173-410
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