2024 Iranian strikes in Israel : MCX GOLD Weekly Analysis 15 April- 19 April 2024

By | April 14, 2024 6:06 pm

For the first time Iran has possibly directly attacked Israel. State of War. Iran have launched drones and ballistic missiles towards Israel to attack military targets per U.S. and Israeli officials to Axios. When all are short volatlity, a significant volatility shock can be brutal. Gold surged to a fresh record as simmering Middle East tensions intensified buying momentum. Bullion broke the $2,400-an-ounce mark for the first time on Friday morning, climbing as much as 2.4% to $2,429.82. GOLD has advanced 18% so far this year, exceeding the 13% advance registered for all of last year. The precious metal’s rally and its often-outsized moves have left some onlookers puzzled because of the lack of any obvious triggers, particularly as the outlook for interest-rate cuts by the Federal Reserve has become muddier in recent weeks. Still, elevated tensions in the Middle East and Ukraine and ongoing problems in China’s economy are adding to bullion’s allure as a haven asset. Meanwhile, some investors have been seeking safety on bets that inflation may stick higher in the long run, underpinning gold’s run.

MCX GOLD Gann Angle Chart

Gold has closed above its 4×3 gann angle and and also near its gann time cycle suggesting we can see explosive move in coming week. Monday High and Low will be crucial for the coming week.

MCX GOLD Supply Demand Zone

MCX GOLD  Supply Demand Chart : Demand in range of  71755-71950 , Supply in range of 72500-72571

MCX GOLD Harmonic Analysis

ABCD pattern D Leg can extend ride towards 74541

GOLD Astro/Gann Trend Change Date

15 April Important Gann/Astro Date for Trend Change

Weekly Trend Change Level:72000

Weekly Resistance:722556,72524,72792,73060,73327

Weekly Support: 71755,71323,71108,70864,70555

Levels Mentioned are for June Future

Wishing you good health and trading success as always.As always, prioritize your health and trade with caution.

As always, it’s essential to closely monitor market movements and make informed decisions based on a well-thought-out trading plan and risk management strategy. Market conditions can change rapidly, and it’s crucial to be adaptable and cautious in your approach.

Trade smartly and safely.

Category: Gold Gann Analysis

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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