Gold Today

yellow line below black is a SELL and the reverse is buy. All time frames show a sell. But the zigzag shows that the prices are near a low zigzag. It is better to enter a sell from a high zigzag.

Hence let us see if the prices reverse from 1625.75, which is the 161.8 level for yesterday's high and low in H1.



if it goes below 100 level, ie 1622.20, then the prices, would be doing a double mountain, taking the prices to a drastic fall. Should get a confirmation by today evening.

Now that the prices have gone below 1622.20 and a double mountain is formed in H4. Expect the prices to continue at least till 1545.0 in this month.



If it goes below 1521, which is most likely, the prices should reach 1100 in this year!

We have to SELL from a HIGH. So it would be worthwhile to wait for HIGH ZIGZAG to from and then enter a SELL. 1626.06 is a strong resistance level for a SELL entry.



BUY LOW|SELL HIGH

That's a no brainer!!
That 1626 looks beautiful Pivot point for offering it

Well when markets collapse ( and they will ) everybody will buy what is up for grabs. Gold will become very expensive ( 2000+) so people will turn to other safe investments like silver, treasury bonds etc. If you look at the silver in comparison to gold, then there is much more upside for silver and since there is more gold in the world than silver, its pretty logic that silver will increase at a higher % than gold. I could be wrong, but wait and see

GOLD Mcx July : -
Existing sellng bias likely to continue to persist for the day, But we cannot guideline out the likelihood of an preliminary force towards 29530 area for a move reduced towards 29320/200 or even more. But crack above 29570 area could raise up costs towards 29670/730, which we least anticipate for the day.

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