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1.1300 again provided good support and is still in the broader range as mentioned last week. Either side breakout will happen once it trades below Gann support of 1.1300 or if trades above 1.1625.Any trade and close above 1.1860 will indicate bigger upside.
Major trend remains down and sell on rallies is the strategy for positional traders till it closes above 1.1860 convincingly. The levels given below are only for positional trading and are very important on closing basis.
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MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE:: 1.1300/ 1.1240/1.1120/1.1075
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 1.1625/1.1780/1.1800/1.1860 / 1.2000
Power and accuracy of Gann support levels are perfectly demonstrated by DJIA charts. It rallied more than 1400 points from the support zone I have been mentioning for the last couple of weeks. No problem for bulls till it closes below 24300. Follow the levels given below to create your own trading plan. These levels are very important on closing basis.
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MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE:: 24900-24550-24300-23950-23500-23300
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 25600-25850-26050-26550-27000
11000 support is still holding and next round of weakness will be indicated only below this.Both major and minor trends are down and it will remain so till it closes above 11900. Follow the levels given below and create your own trading plan. These levels are very important on closing basis.
Those who are interested in complete News letter and detailed weekly trading plan with precise Buy/Sell entry levels & minimum SL can subscribe for it. To subscribe visit the following page https://www.artoftrading.co.in/newsletters
MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE 11000-10700-10330-10170
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 11690-11900-12150-12360
Since both major and minor trends are down so sell on rise is the best strategy for now. 59.5 to 60.25 is a major Gann support zone. 67-68 is a major resistance zone.Follow the levels given below and create your own trading plan. These levels are very important on closing basis.
Those who are interested in complete News letter and detailed weekly trading plan with precise Buy/Sell entry levels & minimum SL can subscribe for it. To subscribe visit the following page https://www.artoftrading.co.in/newsletters
MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE:: 62.9-60.25- 59.5-58-55
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 67-68-69.9-71.35-72.9
1215 to 1245 is a broad range for gold .Either side break out will indicate the next directional move..Follow the Gann levels given below and create your own trading plan.
Those who are interested in complete News letter and detailed weekly trading plan with precise Buy/Sell entry levels & minimum SL can subscribe for it. To subscribe visit the following page https://www.artoftrading.co.in/newsletters
MAJOR SUPPORT LEVELS ON CLOSING BASIS ARE:: 1215- 1180-1153-1120-1045
MAJOR RESISTANCE LEVELS ON CLOSING BASIS ARE :: 1245-1266-1280-1298
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