Xau/Usd : 16/12/2015 Technical Analysis Report
16th December 2015
CFX Admin
Our Preference: Sell Below 1066 for the target 1053 levels.
Alternative Scenario: Nill
Technical Commentary:- In Daily Chart :- yesterday Gold was closed on lower side as bearish candle and closed below the key support level of horizontal line and now gold was trading near key resistance level and given conformation for selling side so we can except on selling side with tight stoploss above yesterday high and except upto next key support levels :- which we have shown in attached image.
In 4 Hour Chart :- Yesterday Gold was broken the key support level of horizontal line and we got closing below key support level and already gold was trading in the equidistant channel line and it was trading in the sideways movement between key resistance level and key support levels and now its was trading near resistance level so we sell near resistance level and except upto next key support levels:- which we have shown in attached image.
and In 1 Hour Chart :- Gold was trading in the equidistant channel line & trading in the triangle pattern, If the lower trend line breaks means we can except on selling side and now its trading near intraday resistance level and trading near intraday upper trend line of triangle pattern so we can sell near resistance level and except upto next key support level :- which we have shown in attached image.
Technical Commentary:- In Daily Chart :- yesterday Gold was closed on lower side as bearish candle and closed below the key support level of horizontal line and now gold was trading near key resistance level and given conformation for selling side so we can except on selling side with tight stoploss above yesterday high and except upto next key support levels :- which we have shown in attached image.
In 4 Hour Chart :- Yesterday Gold was broken the key support level of horizontal line and we got closing below key support level and already gold was trading in the equidistant channel line and it was trading in the sideways movement between key resistance level and key support levels and now its was trading near resistance level so we sell near resistance level and except upto next key support levels:- which we have shown in attached image.
and In 1 Hour Chart :- Gold was trading in the equidistant channel line & trading in the triangle pattern, If the lower trend line breaks means we can except on selling side and now its trading near intraday resistance level and trading near intraday upper trend line of triangle pattern so we can sell near resistance level and except upto next key support level :- which we have shown in attached image.