GOLD .. 1 hr.. H&S formation

GOLD 4 hr Chart ... DOWN TREND.. Clear

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GOLD... Bearish ???

GOLD Daily Chart :

GOLD Bearish Reversal is Active till it Holds 1755 Level on Closing Basis.. 

Intraday Price Can Try to Rebound Back.. but if it Holds Below this Key Level of 1755, Our Views are valid. Our Short Signal is Still Active and We have Already Posted a Positional View here on blog. Can be Seen with this Link http://fxmagician.blogspot.in/2012/02/gold-next-movement.html 

Near-term downside risk which now offers a sharp decline back into the old trend-line and 200-day average, both holding around $1650/54.

If the Trendline and 200 SMA is Breached then Further Weakness Can be Seen and a Weekly Close Below 1540-50 Level Can Trigger a More Sharp Decline in the GOLD Prices and it will Carry upto 1450..1300 levels. The Confirmation is Still away for Such a Big Downside, but still it is an Important Analysis to Protect your Capital and Save Unnecessary Speculative Long Positions. 

Also For a Sustained upmove -  It will be Only Above the Levels of 1800-1810 on Closing Basis..

So the Conclusion is  SELL GOLD NEAR 1725-1730 ZONE / SL 1760-65 / TP 1680...1650...1620

Disclaimer :- These are Views published for information purpose only and are subject to change without notice, trading with this View without the knowledge of trading and money management can cause a damage to your portfolio. You should obtain advice from a qualified expert before making any investment decision. 

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