Gold Weekly Analysis for WS 10th March

With the easing of the Ukraine tension, Gold has cooled off a bit. Some level of profit booking is also seen. Bear in mind though, that the Ukraine crisis is far from over. Another strong move by the Russians and we could see Gold trying to breach $1360 levels.

I have maintained in my previous posts as well that Gold needs to have a strong close above $1360 for it to have the traction to go past $1400 levels. Till such time, I think it will keep playing hide and seek. I do not see the Ukraine tension going off in a hurry so Gold traders will always feel they would have a chance of Gold going up in the short term at least.

The daily chart shows a possible Cup and Handle formation could take place which would be Bullish for Gold. On the Downside, $1300 – $1310 levels would provide good support.

Overall, Gold looks to be under some pressure for this week but mind you, with the Ukraine Crisis still looming large, that can change anytime.

Gold Weekly Ws 10th March

As usual, the market will decide it’s course of action. All we need to do is follow what it does.

Gold trading levels for this week are as follows

Buy Above 1335 Tgt 1 – 1341, Tgt 2 – 1348, Tgt 3 – 1355

Sell Below 1335 Tgt 1 – 1328, Tgt 2 – 1321, Tgt 3 – 1314

Very Important – DO NOT TRADE WITHOUT STOP LOSS. Use sound Money Management with your Trading Plan and do not over leverage vis-a-vis your trading equity.

Have a Profitable Trading week ahead!

To your Boring Success!!!

Gold Weekly Analysis for WS 3rd March

As I write this analysis, Gold is up by around $20 on the Ukraine crisis. I have always maintained that Gold is a buy on dips with $1180 – $1190 as bottom end support. If the Ukraine crisis were to extend, you could see Gold rise above $1400 as well.

Always remember, markets hate uncertainty, and war/violent conflicts make the markets nosedive which is when investors clamor for Gold.

Strong break out and close above $1360 and we can see $1420 at least. Given the current turmoil, this looks pretty likely.

Gold looks bullish on Daily, Weekly and Monthly charts. On the downside $1310 looks like a decent support where buying can emerge should it go there.

As usual, the market will decide it’s course of action. All we need to do is follow what it does.

Gold(Daily) WS 3rd March

Gold trading levels for this week are as follows

Buy Above 1342 Tgt 1 – 1352, Tgt 2 – 1361, Tgt 3 – 1371

Sell Below 1342 Tgt 1 – 1333, Tgt 2 – 1323, Tgt 3 – 1314

Very Important – DO NOT TRADE WITHOUT STOP LOSS. Use sound Money Management with your Trading Plan and do not over leverage vis-a-vis your trading equity.

Have a Profitable Trading week ahead!

To your Boring Success!!!

Gold Weekly Analysis for WS 17th Feb

Gold has closed the past week at $1318 which is above the 50% retracement level from the Prior Swing low. I had mentioned on Twitter (@theboringtrader) as well as in last week’s analysis that if Gold were to close above $1310 we can look at $1360 levels.

I also believe that if Gold closes strongly above the $1340 levels on a weekly basis we can look at targets of around $1435. Not to mention, I still feel Gold is a buy on all pull backs. I think $1340 will be a key level to watch out for as it is the 61.8% retracement level from the prior swing low.  This double bottom pullback produces some of the strongest moves. Also on the Daily charts, Gold seems to be breaking out of a nice round bottom which is very Bullish. If you were to see a pull back from this level I am sure it would see some buying which could make it a nice Text book Cup and Handle formation which again is Bullish.

As usual, the market will decide it’s course of action. All we need to do is follow what it does.

Gold(Weekly) WS 17th Feb

Gold trading levels for the next week are as follows

Buy Above 1302 Tgt 1 – 1338, Tgt 2 – 1358, Tgt 3 – 1395

Sell Below 1302 Tgt 1 – 1282, Tgt 2 – 1245, Tgt 3 – 1226

Very Important – DO NOT TRADE WITHOUT STOP LOSS. Use sound Money Management with your Trading Plan and do not over leverage vis-a-vis your trading equity.

Have a Profitable Trading week ahead!

To your Boring Success!!!

Gold Weekly Analysis for WS 10th Feb

I have been advocating to buy Gold on all dips through my Twitter account (@theboringtrader). I am a firm believer that some portion of your investment has to be held in Gold at all times. Why? I won’t give you some flashy Wall Street Analyst reply. The fact is that there is a lot of uncertainty prevailing in the world today from North Korea to Afghanistan to Syria to Turkey to the US, all for different eco -political reasons. There is one thing you ought to know about the markets and that is they absolutely hate uncertainty of all kinds. When markets are faced with uncertainty, they sell off and Investors take safe haven in Gold. This has been happening since a long time and will continue to happen in the future too. Trust me, the worst is yet to come!!!

Now coming back to Gold, I had given a target of $1260 – $1270 on Gold when it was at the $1190 levels. Gold has super strong support around $1180 – $1190 levels. Gold looks bullish on the Daily and Weekly charts. The 38.2% retracement from the prior Minor swing high comes to around $1282 which would be the first target for all the longs. Expect some sort of profit booking at this level though.

Gold looks good to achieve $1340 levels from here on the upside. If it decisively closes above $1340, we cannot rule out a move towards $1435. However at this point in time a $1310 looks fairly achievable. On the downside, I see decent support around $1235 levels. Look for some bullish patterns here and go long.

As usual, the market will decide it’s course of action. All we need to do is follow what it does.

Gold Weekly WS 10th Feb

Gold trading levels for the next week are as follows

Buy Above 1260 Tgt 1 – 1280, Tgt 2 – 1294, Tgt 3 – 1314

Sell Below 1260 Tgt 1 – 1247, Tgt 2 – 1227, Tgt 3 – 1213

Very Important – DO NOT TRADE WITHOUT STOP LOSS. Use sound Money Management with your Trading Plan and do not over leverage vis-a-vis your trading equity.

Have a Profitable Trading week ahead!

To your Boring Success!!!