GOLD, XAU/USD

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ORIGINAL UPDATE TO SUBSCRIBERS   - 26th Jan 2021  

POSTED HERE TO NON-SUBSCRIBERS - 30th Jan 2021

[Gold February Futures, XAU Update] Gold has been whipsawing in a very narrow range over the last few days. The micro-level pattern in Gold has not changed much.  Reiterating the previous update and sharing some smaller degree observations.

While Gold has bounced off the key support at 1797-1810 (XAU=1798-1811), it shall have to work out a meaningful bounce by breaking the key resistance at 1893-1899 (XAU=1894-1900) (slightly calibrated) to pull itself out of the downward pressure.

Zooming into the smallest degree (nano-level) pattern, Gold has formed a local resistance at 1874-1876 (XAU=1875-1877). If Gold can at the very least surpass this local level, it shall improve its chances to challenge the key resistance.

Until the immediate key resistance is taken out, the key supports at 1797-1810 (XAU=1798-1811) followed by 1767-1773 (XAU=1768-1774) remain exposed.

FOMC event tomorrow has the potential to bring volatility in precious metals. Kindly know your parameters and plan accordingly

ORIGINAL UPDATE TO SUBSCRIBERS   - 19th Jan 2021  

POSTED HERE TO NON-SUBSCRIBERS - 26th Jan 2021

[Gold February Futures, XAU Update] In line with the previous update, Gold did yield to downward pressure and reached the key support at 1797-1810 (XAU=1798-1811) yesterday.

While Gold has bounced off this support, it shall have to work out a meaningful bounce by breaking the newly formed key resistance at 1893-1907 (XAU=1894-1908) to pull itself out of this downward pressure.

Until the immediate resistance is taken out, the key supports at 1797-1810 (XAU=1798-1811) followed by 1767-1773 (XAU=1768-1774) remain exposed.

ORIGINAL UPDATE TO SUBSCRIBERS   - 11th Jan 2021  

POSTED HERE TO NON-SUBSCRIBERS - 20th Jan 2021

[Gold February Futures, XAU Update] In line with the last update (tagged), Gold has reached the previously shared key support at 1810-1818 (XAU=1810-1818) and is attempting to bounce off it. 

We have made small adjustments to the micro-pattern and calibrated the immediate key support to 1797-1810 (XAU=1797-1810). Kindly note this change.

If Gold intends to pull itself out of this downward pressure, it shall have to work out a meaningful bounce by breaking the newly formed key resistance at 1893-1907 (XAU=1893-1907). 

Until the immediate resistance is taken out, the key supports at 1797-1810 (XAU=1797-1810) followed by 1767-1773 (XAU=1767-1773) remain exposed.

ORIGINAL UPDATE TO SUBSCRIBERS   - 06th Jan 2021  

POSTED HERE TO NON-SUBSCRIBERS - 16th Jan 2021

[Gold February Futures, XAU Update] In line with the previous update (tagged), Gold did reach the target key resistance at 1962-1980 (XAU=1958-1976) earlier today and has receded exactly from it.

To have another go at this resistance, Gold will need to operate above the key support at 1902-1919 (XAU=1898-1915).

Only a strong break below 1902 (XAU=1898) shall weaken the above micro-scenario and expose the next key support at 1848-1858 (XAU=1844-1854).